As of June 30, St. Margaret’s has a net surplus of approximately $58K; however, this is under budget by $26K. Revenues are $734K, less than budget by $12K. Program Expenses are $354K, over budget $6K, and Fixed Expenses are $334K, over budget $6K. While the bottom line looks good through June, the summer months will, as usual, show a monthly deficit. We continue to project a year-end shortfall of $37K.
Expenses continue to be closely managed, but we are over budget in Family Ministries almost $2K because we have additional nursery costs due to more children, always a good thing. Unforeseen building maintenance has also caused a $3K overage to budget and utilities are over budget $2K. However, with our new solar panels, we expect to see savings.
The shortfall is mainly in our pledge income, $17K year to date, so please consider a mid-year gift of gratitude. Click here to contribute.
Guin Kerstetter DeJarnett, Treasurer