2nd Quarter Treasurer’s Report

Our finances are in a reasonable position after the first half of 2021. Although we continue to suffer losses due to the pandemic, we are generally operating as budgeted for the year. All information below is as of June 30.

Assets and Liabilities
Asset balances add up to $295,928, a notable decrease from the last quarter. This does not include the money in our endowments and trusts. Total liabilities are $265,774, a slight increase from last quarter. Overall, we have $30,153 in net assets, less than last quarter but enough to cover normal cash flow.

Our income is slightly less than budgeted at the moment, at $231,748. Due to the church’s closure, we continue to suffer an absence of several sources of income, such as rental fees. Fortunately, expenses are also slightly under what was budgeted so far, at $254,952. This leaves us with a net loss for the moment of $23,204, roughly on track for the net loss that we budgeted for the year.

The Investment Committee met to review and rebalance our investments. These are performing well. The Committee identified several options to increase our investments held in funds with strong environmental, social, and governance criteria. Final decisions on moving to one or more of these socially responsible funds will be made later in the year.