TRINITY EPISCOPAL CHURCH NOTES: AUGUST 2013 YTD FINANCIAL NOTES AUGUST 2013 YTD Bottom Line is positive $27,358 Primary reasons: Total income is $21K over YTD budget Total expense is $6K under YTD budget YTD 2013 pledges are $16K under YTD budget Includes $30K of 2013 pledges paid in 2012 Plate contributions are $5.2K over YTD budget One time contribution in January - $4,919 Grants & Fundraising are $2.5K under budget Endowment draw is $37K over budget Prior year mission share Outreach expenses are $6.5K under budget Staff expenses are $2.3K under YTD budget Parish office expenses are $1.7 under YTD budget Building & Grounds expenses are $4.3K over YTD budget Fifth Third Bank Note balance $255,000 Monthly principal payments of $2,500 plus monthly interest started 3/16/2012 2013 Allocation from Endowment for operating expenses = $121,523 $117,995 used YTD ½ 2013 Mission Share = $30,200 - No payments made ½ 2012 Mission Share = $31,974 Paid in full
11:49 AM 09/10/13 Cash Basis Trinity Episcopal Church Balance Sheet As of August 31, 2013 Aug 31, 13 ASSETS Current Assets Checking/Savings 0103 5th 3rd Checking Account 3,511 1005 Petty Cash 200 0105 Fifth Third Securities, Inc. 10,927 Total Checking/Savings 14,638 Total Current Assets 14,638 Other Assets 0142 Bldg Projects Fund - Endowment (8,947) 0140 Endowment Funds at Market 1,330,121 0145 Helen Sanbo Education Fund 50,000 0190 Endowment Fund Receivable 161,503 Total Other Assets 1,532,677 TOTAL ASSETS 1,547,315 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2001 Accounts Payable 4,867 Total Accounts Payable 4,867 Other Current Liabilities 0227 Accrued Pension 12,013 0210 Payroll Tax Withholdings 0222 403B 1,195 Total 0210 Payroll Tax Withholdings 1,195 0300 Deferred Income 0323 Misc Clearing Account 57,865 Total 0300 Deferred Income 57,865 Total Other Current Liabilities 71,073 Total Current Liabilities 75,940 Long Term Liabilities 52003 5TH 3RD BANK LOAN 2012 255,000 Total Long Term Liabilities 255,000 Total Liabilities 330,940 Page 1 of 2
11:49 AM 09/10/13 Cash Basis Trinity Episcopal Church Balance Sheet As of August 31, 2013 Aug 31, 13 Equity 0400 Board designated Endowment Fund 0430 Columbarium Loan-Endowment Fund 4,225 0440 RAB Loan-Endowment Fund 216,781 0460 Vanguard Index Funds 1,354,879 0550 Capital Campaign Donations (16,866) Total 0400 Board designated Endowment Fund 1,559,019 0500 Unrestricted Net Assets 0510 Operating Net Assets 0514 Memorial Fund 13,328 Total 0510 Operating Net Assets 13,328 0500 Unrestricted Net Assets - Other 1,000 Total 0500 Unrestricted Net Assets 14,328 0600 Temporarily Restricted 0617 ECW Trinity - Activities Funds 1,780 0602 Gifts/Special Projects (1,451) 0603 Capital Reserves 11,126 0610 Audit 940 0612 Memorial 11,768 0615 History Book (10,171) 0616 Josh Morrow Memorial 9,566 Total 0600 Temporarily Restricted 23,558 2997 Retained Earnings (382,997) 2997A Prior Period Earnings 24,736 2999 Opening Bal Equity (49,627) Net Income 27,358 Total Equity 1,216,375 TOTAL LIABILITIES & EQUITY 1,547,315 Page 2 of 2
12:00 PM 09/10/13 Cash Basis Trinity Episcopal Church Profit & Loss January through August 2013 Calendar Year August August YTD August Jan - Aug 13 2013 Budget 2013 YTD Budget Budget Variance 2012 YTD Income Total Pledges for 2013 134,569 226,000 150,667 16,097 158,009 Total 1020 Plate & Contributions 21,487 24,420 16,280 5,207 13,353 Total 1100 Rent 12,785 20,825 13,883 (1,098) 13,700 Total 1200 Investments 117,995 121,523 81,015 36,980 98,187 Total 1300 Special 28,023 41,900 27,933 89 22,553 Future Trinity Fund Davidson - Marketing - 1,000 667 (667) - Bread - J Morrow Fund - 1,000 667 (667) - 1450 Fund Raising 1,301 7,000 4,667 (3,366) 1,098 1400 Grants 3,500 4,000 2,667 833 1,750 Total Income 319,659 447,668 298,445 21,214 308,649 Expense Total 8000 Outreach 42,600 73,686 49,124 (6,524) 47,567 Total Congregational Development 506 1,000 667 (161) - Total Pastoral Care 2,601 2,000 1,333 1,268 1,788 Total 2100 Rector 75,107 114,080 76,053 (946) 73,716 2300 Supply Priest 895 3,000 2,000 (1,105) 1,775 Total 2000 Clergy 76,002 117,080 78,053 (2,051) 75,491 Total 3001 Rector's Admin. Assistant 23,962 35,315 23,543 418 25,610 Total 3100 Sextons 25,778 37,000 24,667 1,111 25,075 Total 3200 Administrators 14,884 23,675 15,783 (899) 16,668 Total 3000 Administration 64,624 95,990 63,993 631 67,353 Total 3300 Parish Office 14,102 23,652 15,768 (1,666) 20,802 Total 3800 Ministry Support & Meetings 224 1,600 1,067 (843) 1,199 Total 5000 Music Staff 28,316 43,860 29,240 (924) 28,915 Total 6000 Christian Education 408 500 333 75 166 Total 7300 Worship 9,081 14,000 9,333 (252) 5,559 Page 1 of 2
12:00 PM 09/10/13 Cash Basis Trinity Episcopal Church Profit & Loss January through August 2013 Jan - Aug 13 2013 Budget 2013 YTD Budget Budget Variance 2012 YTD Total 4000 Building and Grounds 53,837 74,300 49,533 4,304 49,332 Total Expense 292,301 447,668 298,445 (6,144) 298,168 Net Income 27,358 - - 27,358 10,481 Page 2 of 2
12:00 PM 09/10/13 Cash Basis Trinity Episcopal Church Profit & Loss January through August 2013 Calendar Year August August YTD August Jan - Aug 13 2013 Budget 2013 YTD Budget Budget Variance 2012 YTD Income 1010 Pledges 1011 Current Year Pledges 97,949 187,000 124,667 (26,717) 101,169 1015 Prior Year Unpaid Pledges 6,620 9,000 6,000 620 8,200 Total 1010 Pledges 104,569 196,000 130,667 (26,097) 109,369 2013 Pledges Received in 2012 30,000 30,000 20,000 10,000 48,640 Total Pledges for 2013 134,569 226,000 150,667 (16,097) 158,009 1020 Plate & Contributions 1021 Plate Offering 8,804 13,000 8,667 137 8,428 1025 Non Pledge Contributions 12,683 11,420 7,613 5,070 4,925 Total 1020 Plate & Contributions 21,487 24,420 16,280 5,207 13,353 1100 Rent 1102 2nd Floor Al-Anon 2,485 2,700 1,800 685 1,800 1103-3rd Floor - - - - - 1104-4th Floor - - - - - 1106 1st Floor AA 1,300 2,625 1,750 (450) 1,600 1108 Fresh Box Catering 9,000 15,000 10,000 (1,000) 10,000 1109 - Miscellaneous Rent - 500 333 (333) 300 Total 1100 Rent 12,785 20,825 13,883 (1,098) 13,700 1200 Investments 1210 Endowment Current Year 117,995 121,523 81,015 36,980 98,187 Total 1200 Investments 117,995 121,523 81,015 36,980 98,187 1300 Special 1310 Wedding Surplus 17,400 18,000 12,000 5,400 12,200 1320 Flowers 1,567 4,000 2,667 (1,099) 989 1330. Easter 6,805 6,800 4,533 2,272 5,439 1340 Christmas - 9,100 6,067 (6,067) 422 1390 - General Convention - - - - - 1370 In The Garden Contributions 2,250 4,000 2,667 (416.67) 3,503 Total 1300 Special 28,023 41,900 27,933 89 22,553 Future Trinity Fund Davidson - Marketing - 1,000 667 (667) - Bread - J Morrow Fund - 1,000 667 (667) - 1450 Fund Raising 1,301 7,000 4,667 (3,366) 1,098 1400 Grants 3,500 4,000 2,667 833 1,750 Total Income 319,659 447,668 298,445 21,214 308,649 Expense 8000 Outreach 8032 In The Garden Expenses 3,303 4,000 2,667 636 3,450 8001 - Diocesan Mission Share 1/2-30,000 20,000 (20,000) - 8002 Prior Year Mission Share 31,974 32,186 21,457 10,517 37,712 Page 1 of 4
12:00 PM 09/10/13 Cash Basis Trinity Episcopal Church Profit & Loss January through August 2013 Jan - Aug 13 2013 Budget 2013 YTD Budget Budget Variance 2012 YTD 8020 Seminary Support 1,000 1,000 667 333 1,000 8030 Outreach Programs 2,407 4,500 3,000 (593) 1,584 8040 Consortium Endowment 2,916 1,000 667 2,250 2,821 8045 - Bread 1,000 1,000 667 333 1,000 Total 8000 Outreach 42,600 73,686 49,124 (6,524) 47,567 Congregational Development 7120 Marketing 506 1,000 667 (161) - Total Congregational Development 506 1,000 667 (161) - Pastoral Care 7210 Rector's Discretionary 2,601 2,000 1,333 1,267 1,788 Total Pastoral Care 2,601 2,000 1,333 1,267 1,788 2000 Clergy 2100 Rector 2105 Salary 27,789 42,500 28,333 (545) 27,789 2110 Housing & Utilities 22,885 35,000 23,333 (449) 22,885 2115 Payroll Taxes & Fringe Benefits 8,069 16,200 10,800 (2,731) 9,545 2117 Pension 9,960 14,940 9,960 0 9,960 2120 Continuing Education 2,252 1,000 667 1,585 334 2130 Expense Allowance 3,304 3,000 2,000 1,304 2,329 2135 Parking 849 1,440 960 (111) 874 Total 2100 Rector 75,107 114,080 76,053 (946) 73,716 2300 Supply Priest 895 3,000 2,000 (1,105) 1,775 Total 2000 Clergy 76,002 117,080 78,053 (2,051) 75,491 3000 Administration 3001 Rector's Admin. Assistant 3005 Salary 15,283 23,375 15,583 (300) 15,283 3015 Payroll Taxes & Fringe Benefits 7,839 10,500 7,000 839 9,487 3035 Parking 840 1,440 960 (120) 840 Total 3001 Rector's Admin. Assistant 23,962 35,315 23,543 418 25,610 3100 Sextons 3105 Salary 16,659 23,500 15,667 992 15,900 3115 Payroll Taxes & Fringe Benefits 9,119 13,500 9,000 119 9,175 Total 3100 Sextons 25,778 37,000 24,667 1,112 25,075 3200 Administrators 3205 Salary Financial Secretary 7,884 13,000 8,667 (783) 9,012 3207 Other Liturgist 5,313 8,125 5,417 (104) 5,313 3215 Payroll Taxes & Fringe Benefits 1,097 1,800 1,200 (103) 1,338 3235 Parking 591 750 500 91 1,005 Total 3200 Administrators 14,884 23,675 15,783 (899) 16,668 Total 3000 Administration 64,624 95,990 63,993 631.03 67,353 3300 Parish Office 3305 Telephone 2,076 3,000 2,000 76 1,826 3307 ACS Computer Sevice 779 1,050 700 79 692 Page 2 of 4
12:00 PM 09/10/13 Cash Basis Trinity Episcopal Church Profit & Loss January through August 2013 Jan - Aug 13 2013 Budget 2013 YTD Budget Budget Variance 2012 YTD 3310 Postage 1,415 3,500 2,333 (918) 2,825 3320 Printing 1,830 2,000 1,333 497 1,121 3325 Office Supplies 2,039 2,500 1,667 372 2,025 3330 Equipment 3331 Equipment Lease 2,368 3,550 2,367 1 2,282 3332 - Equipment Purchase - - - - 1,737 3335 Maintenance & Repair 725 1,800 1,200 (475) 4,285 Total 3330 Equipment 3,092 5,350 3,567 (474) 8,305 3500 Stewardship & Envelopes 134 134 89 45 130 3600 Bank/Payroll/Misc Fees 2,818 4,818 3,212 (394) 3,769 3700 Publications (82) 300 200 (282) 109 6700 - Fund Raising - 1,000 667 (667) - Total 3300 Parish Office 14,102 23,652 15,768 (1,666) 20,802 3800 Ministry Support & Meetings 3830 Meetings 112 800 533 (421) 774 3800 Ministry Support & Meetings - Other 111 800 533 (422) 425 Total 3800 Ministry Support & Meetings 224 1,600 1,067 (843) 1,199 5000 Music Staff 5001 Director 10,004 15,300 10,200 (196) 10,004 5010 Organist 4,200 5,500 3,667 533 5,050 5015 Payroll Taxes & Fringe Benefits 1,008 1,560 1,040 (32) 1,109 5100 Choir 10,355 16,000 10,667 (312) 10,655 5200 - Instrumentalist - 5,000 3,333 (3,333.33) 650 5400 Organ & Piano 2,750 400 267 2,483 1,380 5500 Music Supplies - 100 67 (67) 67 Total 5000 Music Staff 28,316 43,860 29,240 (924) 28,915 6000 Christian Education 6500 Adult Education 408 250 167 242 166 6501 - Childrens Education - 250 167 (167) - Total 6000 Christian Education 408 500 333 75 166 7300 Worship 7310 Altar Flowers 1,623 4,000 2,667 (1,044) 362 7320 Worship Supplies 2,079 2,000 1,333 746 1,299 7330 Altar & Chancel 308 500 333 (26) 360 7360 Wedding 5,071 7,500 5,000 71 3,538 Total 7300 Worship 9,081 14,000 9,333 (252) 5,559 4000 Building and Grounds 4150 Security Monitoring 288 500 333 (45) 420 4110 Gas 4,517 6,000 4,000 517 3,621 4120 Electricity 19,033 25,500 17,000 2,033 19,022 4130 Water 2,895 5,000 3,333 (438) 1,481 4140 Trash 1,014 1,500 1,000 14 1,122 4210 - Cleaning Service - - - - - 4220 Inspection Fees 7,228 7,000 4,667 2,561 4,941 4230 Bruner & HVAC Repairs 2,402 8,000 64,000 (61,598) 3,829 4300 Insurance-Bldg 13,687 18,000 12,000 1,687 12,424 4700 Church Repairs 244 - - 244 937 4800 Building Supplies 2,529 2,800 1,867 662 1,535 Page 3 of 4
12:00 PM 09/10/13 Cash Basis Trinity Episcopal Church Profit & Loss January through August 2013 Jan - Aug 13 2013 Budget 2013 YTD Budget Budget Variance 2012 YTD Total 4000 Building and Grounds 53,837 74,300 49,533 4,304 49,332 Total Expense 292,302 447,668 298,445 (6,144) 298,168 Net Income 27,358 - - 27,358 10,481 Page 4 of 4