2017 Finance Report

Overview

This is the 2017 financial report for Quartz Hill Community Church. It starts with this overview of the year. Following the overview there is detailed information about fund balances and the budget.

Overall 2017 was another good year financially. Ongoing expenses continue to be low which helps maintain our financial stability. Giving to the General Fund dropped to $67,105 which is about $1,100 less than 2016. Despite the drop giving was about $9,000 above our published budget of $58,060. We spent a total of $69,158 which exceeded budget by about $11,000. The net result is we ended the year with $27,800 in the General Fund which is a loss of about $2,000 compared to the end of 2016.

The renovation project began in 2014 and work continued throughout 2017 There is no longer money in the renovation fund but we decided to spend General Fund money. First we increased the annual maintenance budget to $12,000. Second throughout the year we voted to undertake some high cost renovation efforts. The net result is we spent $21,666 on build maintenance and renovation. This is the primary reason our spending exceeded our budget.

We sent $352 to the California Southern Baptist cooperative program and the same as association giving to our local High Desert Baptist Association. Community outreach increased with outreaches to children, participation in community fairs, and project hydrate. The congregation continued to generously participate in the Angel Tree program. Overall spending on outreach was $2,622 which exceeded the budgeted $1,500. However, our overall ministry expense of $4,915 was below its budget of $6,000.

Other significant budget items were utilities and property tax. Spending on utilities rose to $10,262 which was over the budget of $9,000. This increase is probably due to special trash removal, expanded building use, and general utility price increases. Property tax spending was $3,312 which significantly exceeded the budget of $600. This was due to an oversight that saw us lose our church exempt status for 2017. That loss means our Fall 2017 tax payment was very high. Similarly our Spring 2018 payment will be high. The oversight has been corrected so we will again be exempt in 2018.

One other item of note is our Temporary Fund balance of $288. As mentioned below it is usually zero. However, we were late sending in our Lottie Moon offering of $230. It also has $58 for project hydrate which has not been spent.

Balances

The table below shows the balances of the various QHCC funds at the end of each month in 2017. The chart below the table shows the General Fund history. The chart includes unpaid bills in the General Fund balance to show when we are behind. All funds are contained in the QHCC Account, which means that the QHCC Account column is a total of the rest. Most income and spending occurs through the General Fund.

The Parsonage Fund has funds from the parsonage sale. It is being held in reserve to support future pastor housing needs. A formal offering for the Deacon Fund is taken in every communion service but can be donated to at any time. It is used to help people in need at the discretion of the deacons. The Holding Fund is designed to hold funds needed to pay irregular large bills such as the property tax. Periodically youth at the church raise money and this money is stored in the Youth Fund.

The Temporary Fund should normally show zero balance. The Temporary Fund covers money taken in for things not budgeted, such as a sudden need, a special offering, or a short-term project.

Here is the chart showing the General Fund balances, income and expenses throughout the year.

Budget

This table shows the how income and spending compare with the budget throughout the year. The left-hand column shows the budget categories and sub-categories. Next to it the Budget Column shows the monlthy budgeted amounts for each category. The next columns show the income and spending for each month. The Total YTD Column shows the total income and spending for the year to date. The Budget YTD Column shows the amount budgeted for the year to date. The Difference Column shows the difference between actual income and spending and the budget for the year to date. The Annual Budget Column shows the yearly budget amounts.

This chart shows spending compared to the budget for the major budget categories.