May 2021 Finance Snapshot: General Fund (GF) Total GF Income Received as of 5/31/2021: $204,630.73* Total GF Income Budgeted through 5/31/2021: $183,125.00 Total GF Expenses Paid through 5/31/2021: $169,000.84 Total GF Expenses Budgeted through 5/31/2021: $191,670.69 * Includes $10,260.00 designated for Heart of Nashua Continued and CARES Act PPP Draw 2 Funds of $41,352.00 received and used for GF expenses. Notes on General Fund -
We did not pay World and New England Mission Shares leaving us two months behind ($3902.52). We MUST make this up later in the year. -
The last of the Cares Act PPP funds were used in May for the May 15 payroll. The PPP money was an immense help in meeting our financial obligations. We will apply for forgiveness later this summer. -
We are current on other expenses. Heart of Nashua 1 & 2 (GiF) & HON Cont. (Capital Campaign/Elevator, Connector, Renovations) - Balance Due on HON Loan as of 5/31/2021: $141,793.76 (Loan was $358,343.45) - In May the $1,769.53 monthly payment was paid. HON Cont. funds on hand 5/31/2021 ($8696.72) will cover payments for five months. - Total Paid (including interest) Using HON 1, 2 & Continued as of 5/31/2021: $1,893,427.65 Funding for the Future, 100 for $150 (Endowment) – Received this year as of 5/31/2021: $1895. Anyone can be one of 100 people or families giving $150 each year (or donate any amount) to grow our endowment for our future. Parsonage Mortgage – As of 4/30/2021 we owed $67,395.07 on the parsonage. We are paying $896.22 per month. At the present rate, the parsonage will be paid off on 1/23/29. We have been using income from the Scrip's gift card fundraiser program run near Christmas to paydown the principal. If you wish to donate directly to reduce this balance, please mark donations for parsonage paydown. Extra Mile Giving Opportunities - At this time, we have two opportunities and one anticipated opportunity for extra mile giving. -The church will replace the bark mulch along the plantings with river rock. This will be longer lasting than mulch and will help prevent cigarette fires and damage to our sprinkler system which have been an issue. The total expense is $2750 and the work will likely occur in July. Donations may be made for this and should be marked "landscaping." -We received notice of a partial approval of $882 on a matching grant from the New England Conference Together for Tomorrow grant program. It will help provide incremental upgrades to the existing A/V systems of the church to enhance our ability to reach our community. The application was for a matching grant of $1181 to match $1181 from the church (totaling $2362). Areas of our outreach to be enhanced: · Improved production quality of our online video stream, and enhanced video capability. · Simplified production for volunteer technical team · Support for audio amplification for inperson outdoor worship · Preparation for future hybrid online/in-person worship Please mark donations A/V. -We plan on replacing flooring in Kristy's office with the same as in the vestry. We have not yet received a quote for this. For additional information on the landscape stones and flooring, contact Donna Swanson. Contact Jerry Harrow for information on the A/V production updates. Thank You Thank you to all who support this congregation. Your financial gifts, service and prayers are all appreciated and needed to meet our budget goals. It is a lean budget and barely covers needs. |
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