2011 Finance Report

Overview

This is the 2011 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.

In 2011 our financial status greatly improved. We caught up on all our bills thanks to a strong Spring and Summer. However most of the year was tight and giving dropped again in the last couple of months.

Our biggest on-going concern the last few years has been that we struggle to make our building mortgage payment. We began 2011 almost four months behind on the mortgage. Strong giving through the middle of the year allowed us to catch up. Also, the North American Mission Board agreed to extend our maturation date to October 2016. This reduces our payment and will allow us to keep up more easily.

The good giving pattern allowed us to pay our pastor regularly and pay all his business expenses. We caught up on our cooperative giving and maintained it thoughout the year. Utilities and the parsonage mortgage were kept up to date.

Toward the end of the year giving dropped again. We stuggled to pay some bills on time and especially had trouble with property tax. It was finally paid at the end of the year, but only after being late enough to require a 10% penalty. Overall 2011 was much better than 2010, but the end of year trend is cause for concern.

Balances

The table below shows the balances of the various QHCC funds at the end of each month in 2011. 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 Internet and Temporary Funds should normally show zero balances. The Internet Fund tracks Quartz Hill School of Theology's support for our internet fees. The Temporary Fund covers money taken in for things not budgeted, such as Souper Bowl or the Lottie Moon offering.

DateQHCC AccountGeneralGen - HoldParsonageDeaconHoldingYouthInternetTemporary
12/31/20101,704 (122)935 581 0 260 0 50 1,704
1/31/20112,093 206 206 935 642 0 260 0 50
2/28/20113,009 1,081 1,081 935 683 0 260 0 50
3/31/20112,221 343 343 935 683 0 260 0 0
4/30/20113,038 1,108 1,108 935 735 0 260 0 0
5/31/20113,683 1,753 1,753 935 735 0 260 0 0
6/30/20113,789 1,812 1,812 935 782 0 260 0 0
7/31/20113,671 1,346 1,346 935 782 0 260 0 348
8/31/20112,285 265 265 935 825 0 260 0 0
9/30/20111,645 (428)(428)935 878 0 260 0 0
10/31/20112,880 807 807 935 878 0 260 0 0
11/30/20112,248 174 174 935 878 0 260 0 0
12/31/20111,782 (250)(250)935 837 0 260 0 0

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 11Feb 11Mar 11Apr 11May 11Jun 11Jul 11Aug 11Sep 11Oct 11Nov 11Dec 11Total YTDBudget YTDDifferenceActual Budget
                  
General income7,299 5,397 7,279 6,654 7,045 8,063 6,033 6,863 5,419 5,334 8,940 5,355 6,624 79,006 87,584 (8,578)87,584
                  
Building                 
Hazard Insurance171  603   603   632  667   2,503 2,048 455 2,048
Maintenance80       380      380 960 (580)960
Mortgage1,138  1,724600 1,800 600 600 600 600 600 1,000 727 743 9,594 13,656 (4,062)13,656
Property Tax50   516   43     344  903 600 303 600
Supplies8             0 100 (100)100
Utilities650 510 334.85381 529 523 468 770 887 896 776 601 625 7,302 7,800 (498)7,800
TOTAL Building2,097 510 2,661 1,497 2,329 1,726 1,111 1,750 2,119 1,496 2,442 1,672 1,368 20,681 25,164 (4,483)25,164
                  
Business Expenses                 
Worker's Comp50   617  (220)       397 600 (203)600
Office 4 4  7     4 60 (10) 69 200 (131)200
Telephone100 115 112 114 111 119 118 102 18 21 52  31 913 1,200 (287)1,200
TOTAL Business Expenses150 119 116 731 118 (101)118 102 18 25 112 (10)31 1,380 2,000 (620)2,000
                  
Ministry                 
Adult10             0 120 (120)120
Children10             0 120 (120)120
Fellowship30             0 360 (360)360
Missions80     510 80 60 70 54 54 90 62 980 960 20 960
Outreach50 15 15 15 15 15 15 15 15 15 15 15 15 182 600 (418)600
Christian Education25             0 300 (300)300
Worship30   109     100     209 360 (151)360
Youth10             0 120 (120)120
TOTAL Ministry245 15 15 124 15 525 95 75 185 69 69 105 77 1,371 2,940 (1,569)2,940
                  
Parsonage                 
Maintenance100    151         151 1,200 (1,049)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         1,421 2,707 2,200 507 2,200
Utilities408 360 247 389 202 202 284 337 313 572 516 356 308 4,085 4,900 (815)4,900
TOTAL Parsonage1,257 925 812 2,240 918 767 849 902 878 1,137 1,081 921 2,294 13,723 15,080 (1,357)15,080
                  
Pastor                 
Business Expenses500     1,000 1,000 1,000 500 500 500 500 500  6,000 (6,000)6,000
Honorarium3,033 3,500 2,800 2,800 2,900 3,500 2,800 3,500 2,800 2,800 3,500 2,800 2,800  36,400 (36,400)36,400
Other0              0 0 0
TOTAL Pastor3,533 3,500 2,800 2,800 2,900 4,500 3,800 4,500 3,300 3,300 4,000 3,300 3,300 42,000 42,400 (400)42,400
                  
TOTAL EXPENSES7,282 5,069 6,405 7,391 6,280 7,417 5,974 7,329 6,500 6,028 7,704 5,988 7,070 79,155 87,584 (8,429)87,584
                  
OVERALL TOTAL14,581 328 874 (737)765 646 59 (466)(1,081)(694)1,236 (633)(446)(149)0 (149)0

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

Actual vs Budget