2019 Finance Report

Overview

This is the 2019 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 2019 was another year where we successfully paid bills and continued to renovate our church property. Aside from renovation and maintenance other expenses continue to be low which helps maintain our financial stability. Giving to the General Fund dropped to $43,465 which is about $8,000 less than 2018. This was also well below our our published budget of $62,860. General Fund spending, however, was also low at $47,259. Business and Pastor expense were close to budget, while Building and Ministry were well under budget. The net result is we ended the year with $25,317 in the General Fund which is an decrease of about $3,000 compared to the end of 2018.

A major area of spending in 2019 was on our building. In April, with the consent of the congregation, the Parsonage Fund was emptied. Its balance of $100,715 was transferred to the Renovation Fund. Also in April we tried to start a major renovation and spent $69,900 to begin work. The result was an April Renovation Fund balance of $41,774. Very little was spent the rest of the year and the Renovation Fund ended the year with a balance of $40,814.

We spent $2,506 on ministry which is slightly less than 2018 and well below our budgeted $6,000. Community outreach included participation in community fairs, project hydrate, and Angel Tree.

Balances

The table below shows the balances of the various QHCC funds at the end of each month in 2019. 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 used to help fund our renovation with some being held in reserve to support future pastor housing needs. The Renovation Fund shows funds currently available for renovation. 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 income and expenses throughout the year.

Here is the chart showing the General Fund balances throughout the year.

Here is the chart showing the balances of the parsonage and renovation accounts.

Here is the chart showing other selected balances.

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.