2010 Finance Report

Overview

This is the 2010 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.

2010 was a hard year again. Unemployment and under-employment struck our congregation. Giving dropped and we struggled.

Our biggest concern is that we fell up to four months behind on our building mortgage. The North American Mission Board has worked with us to relieve some financial stress. Nonetheless, we are struggling to keep up. We did manage to not fall further behind the last few months of the year and even gained a little ground.

Another issue has been our payments to our pastor. We are three to four months behind in his business expenses. Several weeks we had to delay his paycheck because of lack of funds.

We are also behind on our cooperative giving. After reinstating it a couple of years ago, we have been very good at keeping it up. Now we are several months behind.

The are some positive signs. We have had some new people in church. In addition, the financial situation of several members has improved. Our parsonage air conditioning was fixed for much less money than expected. Child-monitoring payments from LA County have now begun. Finally, we have paid most of our bills -- utilities, property tax and insurance are all up-to-date.

We greatly appreciate everyone's prayers and giving. It's not easy to stick with us through the tough times. Thank you for your support and let's look forward to what God will do in 2011.

Balances

The table below shows the balances of the various QHCC funds at the end of each month in 2010. 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 primarily from parsonage refinancing and is used to care for and maintain the parsonage. The Deacon Fund is usually donated to every communion service and is used to help people in need. At the 2008 budget meeting we voted to set up the Holding Fund. It is designed to hold funds needed to pay irregular large bills such as the property tax. Currently we are behind in our bills so the Holding Fund has no money. Periodically youth at the church raise money and this money is stored in the Youth Fund.

The DSL and Temporary Funds should normally show zero balances. The DSL Fund has a negative balance because Quartz Hill School of Theology is responsible for our DSL fees and is behind in reimbursing QHCC. The Temporary Fund covers money taken in for things not budgeted, such as Souper Bowl or the Lottie Moon offering.

DateQHCC AccountGeneralGen - HoldParsonageDeaconHoldingYouthDSLTemporary
12/31/20097,550 5,480 1,180 936 835 4,300 320 (0)10
1/31/20106,157 3,828 228 936 894 3,600 320 (0)210
2/28/20105,532 3,177 277 936 940 2,900 320 (0)190
3/31/20104,348 1,915 15 936 1,003 1,900 260 (0)220
4/30/20103,031 952 52 936 868 900 260 (0)0
5/31/20102,739 690 690 936 838 0 260 (0)0
6/30/20102,803 687 687 936 904 0 260 (0)0
7/31/20102,094 478 478 936 404 0 260 (0)0
8/31/20102,251 622 622 936 477 0 260 (60)0
9/30/20101,673 (15)(15)936 477 0 260 (0)0
10/31/20103,919 2,230 2,230 936 477 0 260 (0)0
11/30/20101,695 (57)(57)936 541 0 260 (0)0
12/31/20101,760 (82)(82)936 581 0 260 (0)50

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

General Fund History

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.

Category DescriptionBudgetJan 10Feb 10Mar 10Apr 10May 10Jun 10Jul 10Aug 10Sep 10Oct 10Nov 10Dec 10Total YTDBudget YTDDifferenceActual Budget
                  
General income7,299 6,163 6,021 5,120 5,293 5,316 4,031 6,341 6,231 5,684 7,842 5,109 5,973 69,123 87,584 (18,461)87,584
                  
Building                 
Hazard Insurance171 501   501   568    568  2,137 2,048 89 2,048
Maintenance80 200       300     500 960 (460)960
Mortgage1,138 1,124 1,1241,124 1,124   1,124  1,124  600 1,124 8,468 13,656 (5,188)13,656
Property Tax50           516  516 600 (84)600
Supplies8        50     50 100 (50)100
Utilities650 850 544410 379 474 270 448 358 1,059 952 597 430 6,772 7,800 (1,028)7,800
TOTAL Building2,097 2,675 1,668 1,534 2,005 474 270 2,140 708 2,183 952 2,281 1,554 18,443 25,164 (6,721)25,164
                  
Business Expenses                 
Worker's Comp50  578  (61)        517 600 (83)600
Office   1   4  4 38 41   88 200 (112)200
Telephone100 103 103 109 105 109 107 106 113 110 110 111 113 1,298 1,200 98 1,200
TOTAL Business Expenses150 103 681 110 43 109 111 106 117 148 150 111 113 1,902 2,000 (98)2,000
                  
Ministry                 
Adult10             0 120 (120)120
Children10             0 120 (120)120
Fellowship30             0 360 (360)360
Missions80 52 62 60 52 54 54 40 64     438 960 (522)960
Outreach50 17 17 115 17 17 17 17 15 15 15 15 115 391 600 (209)600
Christian Education25             0 300 (300)300
Worship30   109          109 360 (251)360
Youth10             0 120 (120)120
TOTAL Ministry245 69 79 284 69 71 71 57 79 15 15 15 115 938 2,940 (2,002)2,940
                  
Parsonage                 
Maintenance100   250          250 1,200 (950)1,200
Mortgage565 565 565 565 565 565 565 565 565 565 565 565 565 6,780 6,780 0 6,780
Property Tax183           1,286  1,286 2,200 (914)2,200
Utilities408 403 380 322 273 360 216 383 619 610 414 363 351 4,694 4,900 (206)4,900
TOTAL Parsonage1,257 968 945 1,137 838 925 781 948 1,184 1,175 979 2,213 916 13,010 15,080 (2,070)15,080
                  
Pastor                 
Business Expenses500 500 500 500 500 500  1,000 500    500  6,000 (6,000)6,000
Honorarium3,033 3,500 2,800 2,800 2,800 3,500 2,800 2,800 3,500 2,800 3,500 2,800 2,800  36,400 (36,400)36,400
Other0              0 0 0
TOTAL Pastor3,533 4,000 3,300 3,300 3,300 4,000 2,800 3,800 4,000 2,800 3,500 2,800 3,300 40,900 42,400 (1,500)42,400
                  
TOTAL EXPENSES7,282 7,815 6,673 6,365 6,255 5,578 4,034 7,050 6,087 6,321 5,597 7,420 5,998 75,193 87,584 (12,391)87,584
                  
OVERALL TOTAL14,581 (1,652)(652)(1,245)(962)(262)(3)(709)144 (637)2,245 (2,311)(25)(6,069)0 (6,069)0

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

Actual vs Budget