ROSEVILLE LUTHERAN CHURCH ANNUAL FINANCIAL REPORT 2014-2015 The 2014-2015 fiscal year at Roseville Lutheran Church was a time of financial transparency and rebuilding. Although the year began on July 1st with a cumulative operating deficit of $122,000, it ended with a surplus of $6,000 on June 30th. Quite plainly, receipts were $128,000 more than expenses. Thanks be to our abundant God! There are three primary reasons for this great news. The green space land sale brought in net proceeds over $95,000. A generous unrestricted estate gift was entrusted to RLC in the amount of $71,000. And, thanks to the hard and diligent work of staff, council and ministry teams, total expenses for the year came in 5% below budget. RLC is poised to welcome a new senior pastor in the coming year. With a positive financial position, a vibrant stewardship committee focused on gratitude and generosity, and plans in place to engage those already here and welcome those looking for a church homeā¦it is indeed an exciting time to look ahead to the future God is setting before us. If you have questions about this report, please feel free to contact me at
[email protected] or 651-487-7752. Oh give thanks to the Lord, for he is good; for his steadfast love endures forever! -Psalm 118:1 Peace, hope and joy in Christ,
Laurel J. Hofeldt Director of Finance & Data Roseville Lutheran Church
Roseville Lutheran Church Statement of Financial Position June 30, 2015 Consolidated Current Total Operating All Funds Fund Cash Northstar Checking Franklin US Gov Samaritan Checking Petty Cash RLNS Money Market/Savings Kitchen Fund Investment RLC Money Market/Savings Total Cash Fixed Assets Church Buildings House Land/Parking Lots Furnishings/Organ Youth Bus Total Fixed Assets
2,882 227,331 490 1,500 897 183,134 56,958 473,191
19,254 490 500
20,244
Child Care Center
Preschool
2,286
500
2,786
-19,753
Restricted Dedicated Accounts
Building Fund
1,096 140,071
87,260
183,134 56,958 381,258
87,260
500 897
-18,356
7,880,000 125,000 1,000,000 800,000 14,000 9,819,000
0
125,000
0
14,000 14,000 9,680,000
10,292,191
20,244
127,786
-18,356
395,258 9,767,260
-7,933 14,443 7,540 0 377,030 0 391,079
-7,933 14,443 7,540 0
14,050
0
0
Net Assets - Beginning Increase (decrease) for year
9,701,274 199,839
-122,013 128,207
133,591 -5,804
-7,686 -10,670
391,656 9,305,726 3,602 84,504
Net Assets - Ending Unrestricted Temporarily Restricted Permanently Restricted Total Net Assets
6,194 379,688 9,515,230 9,901,112
6,194 -18,356
395,258
6,194
2,786 125,000 127,786
-18,356
9,390,230 395,258 9,390,230
10,292,191
20,244
127,786
-18,356
395,258 9,767,260
Total Assets Liabilities Payroll Withholding Pension Payable Payroll Taxes Payable Credit Card Payment Acct Mortgage Payable-Thrivent Due to/from other Funds Total Liabilities
Total Liabilities and Net Assets
7,880,000 125,000 1,000,000 800,000
377,030 0
377,030
Roseville Lutheran Church Statement of Operations FY 2014-2015
Actual YTD RECEIPTS General Offerings Special Gifts to Ministry Other Inc./Transfer From Dedicated Accounts TOTAL RECEIPTS
1,389,228 28,905 193,954 1,612,086
BUSINESS EXPENSE & COMPENSATION Staff Salaries Staff Benefits Business Expense TOTAL BUSINESS EXPENSES & COMPENSATION
Var. Actual to Annual Budget %
103.43%
1,440,000 43,600 75,000 1,558,600
746,958 255,955 10,122 1,013,035
96.90%
799,138 237,480 8,850 1,045,468
19,072
88.50%
21,550
133,734
90.36%
148,000
17,774
83.24%
21,353
9,500
90.48%
10,500
TOTAL CHRISTIAN LIFE
57,045
94.44%
60,400
TOTAL PROGRAM MINISTRIES
237,125
90.57%
261,803
87.23%
5,717 45,411 26,400 46,425 123,953
TOTAL WORSHIP & PRAYER TOTAL MISSION & OUTREACH TOTAL EDUCATION & CHILDREN TOTAL YOUTH & FAMILY MINISTRIES
96.47%
Annual Budget
SUSTAINING/BUSINESS MANAGEMENT Stewardship Bank Fees, Insurance, Payroll Processing Office Support, Computer/Network Communications, Printing, Publishing, Mailings TOTAL BUSINESS MANAGEMENT
5,159 42,726 21,662 38,583 108,129
PROPERTIES & BUILDINGS Utilities/Assessments Cleaning & Maintenance Grounds & Parking Lots HVAC, Lighting & Security, Vehicles TOTAL PROPERTIES & BUILDINGS
75,950 17,965 15,586 16,089 125,590
98.60%
66,326 28,200 22,700 10,150 127,376
233,720
92.99%
251,329
1,483,879
95.21%
1,558,600
TOTAL SUSTAINING MINISTRIES TOTAL EXPENSES RECEIPTS OVER/UNDER EXPENSES
128,207
0
Roseville Lutheran Endowment Fund Net Assets - June 30, 2015 Mutual Funds
408,653
Cash
11,994 Total Assets
420,647
Operating Activity - Year Ended June 30, 2015 Investment Income: Dividends Unrealized Appreciation of Investments Total Investment Income
$
Gifts Received
8,833 8,344 17,177 16,480
Total Income
33,657
Total Grants and Expenses
15,860 313 16,173
Net Increase in Net Assets
17,484
Net Assets - Beginning of Year Net Assets - End of Year
403,163 $ 420,647
Grants and Expenses: Grants Approved Expenses
Grants Approved During the Year: Prayer Shawl Ministry Piano Renovation Childrens Ministry Staff Education Youth Ministry Certification Slovakia Retreat (RLC) Slovakia Youth Participation (RLC Youth and Family) Run, Walk, Roll (RLC Stewardship) RLC Veteran's Day Worship Bridging - Dresser Build $
500 1,500 1,400 2,000 2,520 1,840 2,000 1,600 2,500 15,860
Dedicated Fund Summary July 1, 2014 - June 30, 2015 Opening Balance
YTD YTD Receipts Disbursements
YTD Transfers
Ending Balance
RESTRICTED BY DONOR Building Fund Building Special Projects 1948 Building TOTAL BUILDING FUND
32,878 13,352 0 46,231
84,506 0 600 85,106
84,839 44,948 0 129,787
1,460 -80,595 -6,575 -85,710
31,085 49,000 7,175 87,260
619 0 1,457 2,036 4,112
2,874 1,600 50 1,410 5,934
1,132 0 0 2,016 3,148
799 -100 0 1,282 1,980
1,563 1,700 1,507 148 4,918
Chancel Fund/ Christmas and Easter Garden Music Ministry Piano/Organ Fund Marys & Marthas Veterans Worship Service Other Worship & Music Funds TOTAL WORSHIP, MUSIC & ART
15,124 86 1,828 2,148 2,768 227 22,181
4,676 593 22,170 300 4,214 1,000 32,953
3,558 0 21,260 652 875 150 26,495
15,000 -99 -337 0 1,332 -144 15,752
1,242 778 3,075 1,796 4,775 1,221 12,887
Memorials Stewardship TOTAL STEWARDSHIP
39,921 2,000 41,921
20,653 2,000 22,653
9,050 220 9,270
9,348 790 10,138
42,176 2,990 45,166
100 100
0 0
100 100
0 0
0 0
Quilters Prayer Team Care Team Ministry Design Color Other Fellowship & Church Life Funds TOTAL FELLOWSHIP & CHURCH LIFE
4,815 2,205 3,164 4,674 10,076 24,932
1,200 0 25 0 13,075 14,300
2,092 0 511 0 7,248 9,852
-100 0 61 0 5,294 5,255
4,022 2,205 2,616 4,674 10,608 24,125
M &O Discretionary Fund Slovakia School Seminary Scholarship Iringa Student Sponsorship Feed My Starving Children Other Mission & Outreach Funds TOTAL MISSION & OUTREACH
17,082 4,968 2,510 5,221 0 13,757 43,538
9,427 1,190 0 13,182 22,525 11,625 57,949
26,613 2,000 500 14,000 22,525 21,530 87,168
-19,045 1,933 -215 0 0 -2,787 -20,113
18,941 2,225 2,225 4,403 0 6,638 34,432
8,920 8,920
15,227 15,227
2,667 2,667
4,010 4,010
17,470 17,470
0 0 600 600
88,498 490 0 88,988
1,335 0 0 1,335
87,163 490 600 88,253
0 0 0 0
192,534
323,111
269,822
19,566
226,257
Cornerstone Mission Bible Fund Library Fund Other Education Funds TOTAL EDUCATION
Capital Replacement Fund TOTAL PROPERTIES MANAGEMENT
Youth Ministry Funds TOTAL YOUTH MINISTRIES Special Designation Endowment Fund Other Restricted by Donor Funds TOTAL OTHER RESTRICTED BY DONOR TOTAL RESTRICTED BY DONOR
Dedicated Fund Summary July 1, 2014 - June 30, 2015 Opening Balance
YTD YTD Receipts Disbursements
YTD Transfers
Ending Balance
DESIGNATED BY COUNCIL Investing Earnings Fund Bank Reconciliation TOTAL DESIGNATED BY COUNCIL
0 0 0
0 0 0
0 36 36
0 -36 -36
0 0 0
0 0 351 -10,634 0 7,001 0 -3,282
0 253 1,175 0 1,648 15,416 58 18,550
0 54 1,382 115 0 5,267 86 6,904
-53 53 144 -9,220 931 17,150 -28 8,977
53 147 0 -1,528 717 0 0 -612
9,655 7,480 150 2,725 0 20,010
16,033 0 0 130 105,107 121,270
4,234 1,268 350 0 9,227 15,079
2,791 217 -200 0 95,880 98,688
18,663 5,995 0 2,855 0 27,514
205,978 1,611 676 -6,114 202,151
502 4,445 11,840 3,577 20,364
7,229 2,255 7,725 5,209 22,419
-2,028 2,000 3,487 -4,436 -977
201,279 1,801 1,304 -3,310 201,074
BWCA Camp Hiawatha HS Summer Mission Trip MS Mission Other Youth Ministries TOTAL YOUTH MINISTRIES
-5,030 6,377 5,309 -523 6,341 12,474
10,679 21,413 4,726 1,496 22,343 60,656
8,082 30,287 7,036 100 18,136 63,641
-7,918 4,043 2,910 1,062 -4,893 -4,796
5,485 -6,541 90 -189 15,441 14,286
TOTAL SPECIAL ACTIVITIES
231,353
220,841
108,042
101,891
242,261
TOTAL FUND BALANCES
423,887
543,952
377,900
121,421
468,518
SPECIAL ACTIVITIES Children's Ministry Garage Sale Cornerstone Advent Activity VLM Day Camp Sonsations Summer Programming PMO/Mom's Club Family Ministry Activities TOTAL EDUCATION Building Fees Site Beautification Prayer Chapel Table & Chair User Fees Green Space TOTAL PROPERIES MANAGEMENT Kitchen/Food Coordinator Fund Wedding Fees Funeral Worship Other Fellowship & Church Life TOTAL FELLOWSHIP & CHURCH LIFE
RLC Child Care Statement of Operations FY 2014-2015
Actual YTD
RECEIPTS Fees Donations Misc. Inc. Rental Income TOTAL RECEIPTS
105,195 0 0 3,425 108,620
EXPENSES Program Materials & Supplies Payroll & Benefits Home Expenses & Miscellaneous Exp Interest on Loans from RLC and RLEF Principal on Loans from RLC and RLEF TOTAL EXPENSES
6,995 104,323 3,106 0 0 114,424
RECEIPTS OVER/UNDER EXPENSES
Actual YTD
INCOME Tuition and Registration RLC Subsidy RLC M & O Scholarships Crisis Fund Other Grants & Gifts Savings Interest Fundraiser TOTAL INCOME
65,680 2,000 4,450 0 2,700 0 2,665 77,495
EXPENSES Payroll & Benefits Total Teaching Materials/Supply Total Office/Building Expense Mom's & Dad's Nights Poinsettias Fundraiser TOTAL EXPENSES
83,600 2,305 770 182 1,307 88,164
INCOME OVER/UNDER EXPENSES
(10,670)
Annual Budget
87%
120,000 0 0 4,200 124,200
92%
9,120 99,000 4,800 3,380 8,246 124,546
(5,804)
RLC Preschool Statement of Operations FY 2014-2015
Var. Actual to Annual Budget %
(346)
Var. Actual to Annual Budget %
Annual Budget
93%
72,095 2,625 3,000 400 500 12 5,000 83,632
95%
85,000 3,450 1,100 200 3,500 93,250 (9,618)