Money Matters 10/1/2025
August 2025 Results
The actual results for July through August show an operating loss. There are a few reasons for this. Pledges are lower in the summer, as is typical (thanks to everyone making their pledges!). Rental income is still slower as we are limited by the construction work. Expenses are higher primarily as we have sabbatical minister expense in August and I have aligned payroll costs to the proper periods. Other than the expected sabbatical minister cost, payroll payments haven’t changed, just the timing of the expense. I expect the results to improve throughout the church year.
The results do not include the generous $70,000 gift from Dr. Martin Steindler. This wonderful donation is income to the church and was used to pay off our mortgage. Thank you, Dr. Steindler, for this wonderful and impactful gift!
Actual
Total Revenue $57,400
Total Expenses $82,847
Net Operating Loss $(25,447)
Capital Campaign Update
We have approximately $100,000 remaining in work to be done. Capital cash in our Devon Bank capital account is $73,135, plus some additional amounts for the capital campaign in our Fleishman account. We are funding any gap with outstanding pledges, a credit line from the bank and funds from the Horcher bequest.
In August, we paid $17,500 towards the windows in the Loft and $4,650 towards painting. Remaining work includes approximately $59,400 from our general contractor, Mirek,
$9,800 for windows in the Loft, $4,650 for painting, $12,300 for completion of the fire detection and alarm system, $6,000 to $12,000 for garden restoration, and $5,400 to the architect.
Thanks to all for your continuing donations to the capital campaign!
Accounting Assistance
Until about a year ago, we had used an accounting firm to maintain our books. Once I began doing our books over a year ago, the accounting firm provided very limited services to review my work. The limited services are something that bookkeeping firms do not typically provide because of the few billable hours involved. Recently, the firm has decided to no longer provide this service.
One reason to have someone review the books is to have internal controls to ensure one person isn’t doing too many financial functions. For example, it is a best practice to our bank statements reviewed against our books by someone that doesn’t have signature authority at the bank. We are in the process of having someone fill this internal control role, whether it is someone on the outside or within our congregation.
Treasurer Role
A big thanks to Tom Denio for having stepped in as treasurer a year and a half ago. He has been a valuable asset to the church in navigating our finances. Thank you, Tom!
I know I have a lot to learn about our congregation as I take on this role. I appreciate the church leadership and all in this community as we work together in making this a meaningful spiritual home. Please do not hesitate to reach out to me if you have any questions about our finances.
Respectfully submitted,
