2nd Quarter Treasurer’s Report

Our finances have performed well in the first half of the year. We’re operating very close to the budget overall, with no major surprises. All information below is as of June 31.

Budget, Income, and Spending
Our income is $284.708, almost exactly what we budgeted for this point in the year. Expenses are $273,887, about 3% above budget for this point in the year. Overall, this means we have a net income of $10,821.

Assets and Liabilities
Asset balances add up to $311,655, an increase of about $71,000 since last quarter. This does not include the money in our endowments and trusts. Total liabilities are $286,673, up about $80,000 since last quarter. Overall, we have $24,982 in net assets, which includes our $10,821 in net income and $14,161 in net income from previous years.

Investment Committee
The Committee met for its regular re-balancing of our investments every half year. We also continued to transfer some of our existing funds into more socially and environmentally-focused investments. Finally, the church was fortunate to receive a bequest of $50,000 from Phyllis Genszler’s estate. We are extremely grateful to Phyllis for thinking of the church in her will. The Committee is working to invest her gift and has renamed the Donaldson Fund the Donaldson-Genszler Fund in her honor.