roseville lutheran church annual financial report 2014


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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)