2017 Financial Report

To say 2017 was full of surprises, challenges, frustration, despair, anger, hope, generosity, abundance and satisfaction, would be an understatement.

I believe our year qualifies for the term “calamity”:

“Disaster, catastrophe, tragedy, cataclysm, adversity, tribulation, affliction, misfortune, misadventure” (www.dictionary.com)

What do you think?

Our first bit of good news for the year was that our heat exchangers had serious cracks and needed to be replaced.

This spawned a Benefit Concert and a three year Capital Fund initiative.

Looked like we had the heat exchanger situation under control and where working towards roof repair in 2018

But wouldn’t you just know it: Inspection of the roof found that repairs were urgently needed.

The repair was completed in the fall and has been fully paid.

Through all this adversity, we kept plugging ahead and at the end of the year, things looked pretty good.

One significant change in 2017 was our reporting format. It was changed to mirror the report we submit to the diocese annually. The report went from four pages to one.

Not to worry, all the detail shown in the old report is still readily available, is constantly being used to keep us on track.

If you want to see more specifics on an item, please just ask me.

Now, one way to determine how well an enterprise, GM or Church of the Ascension, is performing is to use the following adage as a measuring stick.

SAY WHAT YOU DO AND DO WHAT YOU SAY

Not a difficult concept to grasp.

But it is a challenge to live up to.

Let’s see how we did.

Only Use of Facilities was less than the budgeted amount.

Take a moment and have a gander.

Yes the size of the pies are different, they are to scale.

Note just how much of the pie envelopes & loose offerings are in the budget pie. Our success or failure is very dependent on this category performing to budget.

Now on to expenses.

We kept our expenses on track and under budget all through the year.

We want the maroon bars to be lower than the blue bars and personnel and mortgage did just that. Housing Building and Ministry was minimally higher than budget and Apportionment was a little less than 50%.

Once again these pies are to scale.

This slide illustrates how much of our income is spent on personnel and running the facility.

There is essentially no money spent from our offerings on providing programs or going out into the community to minister.

Although the apportionment was slightly less than 50% of our assessment, we did fulfill a commitment to the Diocese.

In each section, income exceeded expenses.

The second set of cones has income and expenses for Capital, Apportionment and PWRDF removed.

The third set is capital campaign funds raised and spent in 2017

 

It was my pleasure to act as your treasurer this year and I look forward to many more years.

There is only one thing left to say.