August 2024
I am happy to report that the financial picture for the first six months of this fiscal year is very good, actually better than I expected. Mission support from congregations in the amount of $1,102,403 was better than the prior two years. I pray that this trend will continue and the Synod will end this fiscal year on a positive note.
The comparison of the first six months (February – July) of 2024 to the first six months of 2023 is in two sections below – the first being for the budgeted revenue and expenditures, and the second for non-budgeted revenue and expenditures.
| Six Months | Six Months | |||||
| July 31, 2024 | July 31, 2023 | |||||
| Budgeted Revenue and Expenditures | ||||||
| Mission Support | 1,102,403.67 | 1,061,532.92 | ||||
| Rental & Miscellaneous Income | 36,868.06 | 62,715.33 | ||||
| Investment Income | 113,105.19 | 63,406.39 | ||||
| Total Revenue | 1,252,376.92 | 1,187,654.64 | ||||
| Expenditures | 1,137,233.06 | 1,278,115.70 | ||||
| Revenue over (under) Expenditures | 115,143.86 | (90,461.06) | ||||
| Non-Budgeted Revenue and Expenditures | ||||||
| Property Acquired from Holy Closure | 481,185.00 | |||||
| Cristo Rey’s Building Cost over Donations | (21,314.49) | |||||
| Total Revenue over (under) Expenditures | 596,328.86 | (111,775.55) | ||||
The excess revenue over expenditures in the amount of $115,144 was also helped by investment income of $113,105.
The only item in the non-budgeted section was the acquisition of property in Laurens, SC due to Holy Closure.
Please refer to the following report which shows each congregation’s Mission Support for the first six months of the fiscal year (February – July) for 2024 as compared to the same time period in 2023.
The Synod officers and I are here to accompany you with your prayerful discernment over your ministry and mission support.
Raymond
