St. Paul’s Episcopal Church Treasurer’s report July 2021
Total endowments are listed at a total of $2,602,269, with the operating endowment showing $690,127.
Market value of investments held at Huntington Bank started the month at $2,564,777 and ended at $2,602,269. An increase of $37,492, including $37,186 in unrealized gain, $3,159 in interest and dividends earned, and $1,100 paid to beneficiary.
Pledge payments and gifts were $14,626 against budget of $31,728. Current month operating total (after endowment transfers, before investment activity) shows a current loss of $35,023. Year to date net gain is $85,972 against budgeted loss of $31,978. Current period loss is primarily due to EWP tuition income being under budget, due to being “straight lined” in the budget, pledge payments being under budget, again, straight lined in the budget, and salary expense, also straight lined in the budget.
Note at the bottom of the income statement we now show “transfer from endowments” and “investment activity”. Previously transfers from endowments would have been shown at the top of the statement as income, and the investment activity would have appeared only in the balance sheet and endowment summary sheet.
Elizabeth Wayne Preschool is showing a year to date loss of $25,307 against budget of -0-. YTD loss is due to tuition income and expense being budgeted straight line.
Under one Roof has an ending balance of $38,081 with an additional $12,323 in gift cards balance. See financial summary for details.
Mark Christophono, Treasurer – 08/16/21