Roseville Lutheran Church Annual Financial Report
2012-2013 Roseville Lutheran Church has seen significant change between July 2012 and June 2013. We have said goodbye to many staff members, and welcomed new ones. We have seen members join the church, move away from RLC, or move on to eternity with our Lord. While many faces at RLC have changed, our commitment as faithful followers of Jesus Christ has not changed. We have also seen change to our financial position. In past years we have looked to the month of June and a year end run to help us Finish Strong. This June our giving to general budget was soft and although our Finish Strong campaign raised over $38,000, we ended the year at a net loss. It is common in times of change to want to wait and see before we respond. The timing of some of these transitions at Roseville Lutheran Church has had an adverse impact on our finances. We were digesting a tremendous amount of change at the same point in time that we typically ask for additional financial support. We ended the fiscal year on June 30, 2013 with a net loss of $117,747. Put plainly we spent $117,747 more on general operations of the church then we received in gifts. While these are very disappointing results they are not reflective of who we are as a church, or what our future holds. The council and staff have worked together to design a budget plan for next year with significant reductions to spending. We have begun to implement steps to redesign our stewardship approach. We have welcomed an interim pastor who is committed to helping us through this time of transition. Most importantly we have a Lord and Savior who loves us. The words of Jeremiah 29:11 are true for us as individuals and as a congregation. Jeremiah 29:11 For I know the plans I have for you,” declares the Lord, “plans to prosper you and not to harm you, plans to give you hope and a future. “For I know the plan” can help us to put these changes in perspective and help us to find hope and comfort in Christ and the plans he has for his church at Roseville Lutheran. If you have any questions regarding this report, or desire further information please contact me at
[email protected], or by phone at 651-487-7752. Peace, hope, and joy in Christ,
Paddy Emerson Finance Manager, Roseville Lutheran Church
Roseville Lutheran Church Statement of Financial Position June 30, 2013
Cash Northstar Checking General Savings Franklin US Gov Samaritan Checking Food Coordinator Checking Petty Cash RLNS Money Market/Savings Kitchen Fund Investment RLC Money Market/Savings Total Cash Accounts Receivable Child care House Fixed Assets Church Buildings House Land/Parking Lots Furnishings/Organ Youth Bus Total Fixed Assets
Consolidated Total All Funds
Current Operating Fund
-3,928 17,048 70,576 200 100 1,500 897 175,473 109,447 371,314
-24,869 0
0 7,196
-333 0
200 100 1,000
0
500 897
-48,706 -72,275
2,400
Child Care Center
7,196
Preschool
1,065
Restricted Dedicated Accounts
Building Fund
21,275 9,852 70,576 0
175,473 114,045 391,220
44,108 44,108
2,400
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
10,192,714
-72,275
134,596
1,065
405,220
9,724,108
3,456 634 481,471 0 485,561
3,456 634
4,090
0
0
0
481,471
Net Assets - Beginning Increase (decrease) for year
9,840,439 -133,286
41,381 -117,747
135,268 -672
8,021 -6,957
461,034 -55,814
9,194,735 47,903
Net Assets - Ending Unrestricted Temporarily Restricted Permanently Restricted Total Net Assets
-76,366 415,881 9,367,638 9,707,153
-76,366 9,596 125,000 134,596
1,065
405,220
1,065
405,220
Total Assets Liabilities Payroll Withholding Pension Payable Mortgage Payable-Thrivent Due to/from other Funds Total Liabilities
7,880,000 125,000 1,000,000 800,000
481,471
-76,366
9,242,638 9,242,638
Total Liabilities and Net Assets
10,192,714
-72,275
134,596
1,065
405,220
9,724,108
Roseville Lutheran Church Statement of Operations FY 2012-2013
Actual YTD RECEIPTS General Offerings Special Gifts to Ministry Other Inc./Transfer From Dedicated Accounts TOTAL RECEIPTS
1,268,636 59,549 217,826 1,546,011
BUSINESS EXPENSE & COMPENSATION Staff Salaries Staff Benefits Business Expense TOTAL BUSINESS EXPENSES & COMPENSATION TOTAL WORSHIP & PRAYER TOTAL MISSION & OUTREACH TOTAL EDUCATION & CHILDREN TOTAL YOUTH & FAMILY MINISTRIES TOTAL CHRISTIAN LIFE TOTAL PROGRAM MINISTRIES
Var. Actual to Annual Budget %
80.56%
Annual Budget
88.14%
1,574,788 33,200 146,146 1,754,134
906,456 268,783 13,120 1,188,359
98.07%
907,105 290,240 14,375 1,211,720
24,134
73.22%
32,960
146,003
88.02%
165,878
18,198
82.91%
21,950
6,720
50.91%
13,200
25,951
233.80%
11,100
221,007
90.17%
245,088
81.84%
11,686 49,951 27,810 51,968 141,415
SUSTAINING/BUSINESS MANAGEMENT Stewardship Bank Fees, Insurance, Payroll Processing Office Support, Computer/Network Communications, Printing, Publishing, Mailings TOTAL BUSINESS MANAGEMENT
5,133 36,118 26,550 47,935 115,735
PROPERTIES & BUILDINGS Utilities/Assessments Cleaning & Maintenance Building Improvements Grounds & Parking Lots & Security TOTAL PROPERTIES & BUILDINGS
78,975 23,203 14,204 22,275 138,657
88.93%
77,048 28,813 25,000 25,050 155,911
254,392
85.56%
297,326
TOTAL SUSTAINING MINISTRIES
TOTAL EXPENSES
1,663,759
RECEIPTS OVER/UNDER EXPENSES
94.85%
-117,747
0
Roseville Lutheran Endowment Fund Net Assets - June 30, 2013 Investments in Mutual Funds: Bonds
$ 111,688
Stocks
212,718
Money Market Fund
4,926 Total Mutual Funds
Cash
329,331
6,222
Total Assets
335,554
Net Assets - June 30, 2013
$ 335,554
Liabilities
-
Operating Activity - Year Ended June 30, 2013 Investment Income: Dividends
$ 8,143
Unrealized Appreciation of Investments
36,672
Total Investment Income
Gifts Received (Including $4,215 for Love Lights)
Total Income
44,815
4,520
49,335
Grants and Expenses: Grants Approved
10,550
Expenses
131
1,754,134
Total Grants and Expenses
10,681
Net Increase in Net Assets
38,654
Net Assets - Beginning of Year
296,900 $ 335,554
Net Assets - End of Year
Grants Approved During the Year:
MN Faith Chinese Lutheran Church
$ 2,000
RLC Spring Run, Walk and Roll
2,000
RLC Facilities and Hospitality Ministry
2,000
RLC Senior High Leadership Team - Camperships
2,000
RLC Design Team - Podium for Lounge
2,000
RLC Parish Nurse "Graceful Journey" Program
550 $ 10,550
Dedicated Fund Summary July 1, 2012 - June 30, 2013 Opening Balance
YTD Receipts
YTD Disbursements
YTD Transfers
Ending Balance
TOTAL BUILDING FUND
34,721
78,902
69,514
Children's Ministry Garage Sale Cornerstone Mission Library Fund Other Education Funds TOTAL EDUCATION
8,672 24 1,137 2,286 12,118
166 0 0 2,636 2,803
4,162 0 0 1,056 5,218
1,342 0
Bell Choir Chancel Fund/ Christmas and Easter Garden
529 11,701
2,000 6,017
2,580 4,987
0
RESTRICTED BY DONOR
44,108
728 2,070
3,334 24 1,137 3,138 7,632 -51 12,730
Music Ministry Marys & Marthas Children's Choir Other Worship & Music Funds TOTAL WORSHIP, MUSIC & ART
2,317 2,128 645 4,250 21,569
537 150 6 10,025 18,734
1,443 235 0 12,721 21,966
1,125
323 1,448
285 2,043 651 1,230 16,889
Memorials Stewardship/Community Education TOTAL STEWARDSHIP
21,748 -699 21,049
13,062 0 13,062
6,826 2,035 8,861
0 -2,734 -2,734
27,984 0 27,984
Quilters Life Ministry Prayer Team Parish Nurse Ministry Faith Partners Yoga Care Team Ministry Design Color Other Fellowship & Church Life Funds TOTAL FELLOWSHIP & CHURCH LIFE
1,855 1,472 2,205 3,909 857 1,007 4,017 9,038 54,528 78,887
4,322 860 0 0 140 3,215 240 2,000 2,916 13,693
885 1,811 0 30 0 2,053 900 1,032 1,951 8,663
1,000 379
0 -500 39,542 40,421
4,292 142 2,205 3,879 997 2,168 3,357 10,506 15,950 43,495
M &O Discretionary Fund Slovakia School Seminary Scholarship Iringa Student Sponsorship Other Mission & Outreach Funds TOTAL MISSION & OUTREACH
17,698 5,435 360 3,404 11,799 38,697
1,583 1,780 0 13,470 37,243 54,076
2,500 0 0 12,120 39,063 53,683
6,725 0 0 0 -5,021 1,704
10,056 7,215 360 4,754 15,000 37,385
Youth Summerfest Auction Young Adult Ministry Other Youth Ministry Funds TOTAL YOUTH MINISTRIES
132 676 3,378 4,185
17,101 0 4,494 21,595
2,461 0 2,154 4,615
9,620 116 -1,158 8,578
5,151 560 6,876 12,587
Prime Time Special Designation Other Restricted by Donor Funds TOTAL OTHER RESTRICTED BY DONOR
812 7,531 1,426 9,769
3,352 41,311 1,736 46,399
1,118 26,179 3,493 30,790
3,046 16,077 -2,070 17,053
0 6,587 1,738 8,325
220,996
249,263
203,311
68,540
198,407
6,389 0 6,389
0 0 0
6,389 0 6,389
-633
633 0 633
TOTAL RESTRICTED BY DONOR
0
DESIGNATED BY COUNCIL Investing Earnings Fund Audit Fund TOTAL DESIGNATED BY COUNCIL
SPECIAL ACTIVITIES CornerstoneAdvent Activity Sonsations Family Ministry Activities PMO/Mom's Club TOTAL EDUCATION
-70 -7,455 0 3,240 -4,285
0 310 0 11,165 11,475
33 14,810 157 7,201 22,202
85 2,159 73 1,044 3,360
-187 -24,114 -230 6,160 -18,372
Building Fees Site Beautification Building Repair/Maintenance Prayer Chapel Table & Chair User Fees Other Properties TOTAL PROPERIES MANAGEMENT
-767 4,207 -1,172 150 1,985 400 4,803
12,030 0 0 0 503 2,500 15,033
1,857 35 0 0 0 602 2,494
2,500 0 -1,000 0 0 1,167 2,667
6,906 4,172 -172 150 2,487 1,131 14,675
4,356 251,300 5,241 -5,636 255,260
3,600 358 5,681 30,817 40,455
403 13,837 5,032 22,146 41,418
4,810 4,781 235 11,975 21,801
2,743 233,040 5,654 -8,940 232,497
6,355 -1,815 -3,130 -2,818 -1,408
1,264 19,013 413 11,656 32,346
8,643 6,404 403 10,712 26,162
88 -8,301 290 5,211 -2,713
-1,112 19,095 -3,409 -7,085 7,489
TOTAL SPECIAL ACTIVITIES
254,371
99,309
92,275
25,116
236,289
TOTAL FUND BALANCES
481,755
348,571
301,975
93,655
435,329
Advent & Christmas Outreach Project Kitchen/Food Coordinator Fund Wedding Fees Other Fellowship & Church Life TOTAL FELLOWSHIP & CHURCH LIFE BWCA Camp Hiawatha MS Mission Other Youth Ministries TOTAL YOUTH MINISTRIES
RLC Child Care Statement of Operations FY 20122013
Actual YTD
RECEIPTS Fees Donations Misc. Inc. Rental Income TOTAL RECEIPTS EXPENSES Program Materials & Supplies
107,765 0 5,029 4,200 116,994
8,233
Var. Actual to Annual Budget %
102%
Annual Budget 110,000 0 0 4,200 114,200
9,120
Payroll & Benefits Home Expenses & Miscellaneous Exp Interest on Loans from RLC and RLEF Principal on Loans from RLC and RLEF TOTAL EXPENSES
106,135 3,298 0 0 117,666
RECEIPTS OVER/UNDER EXPENSES
(672)
RLC Nursery School Statement of Operations FY 20122013
Actual YTD
INCOME Tuition and Registration RLC Subsidy RLC M & O Scholarships Crisis Fund Other Grants & Gifts Savings Interest Fundraiser TOTAL INCOME EXPENSES Payroll Total Teaching Materials/Supply Mom's & Dad's Nights Poinsettias Fundraiser TOTAL EXPENSES INCOME OVER/UNDER EXPENSES
86,202 0 3,000 0 2,364 0 4,019 95,586
95,761 4,568 136 2,078 102,542 (6,956)
104%
99,000 4,800 0 0 112,920
1,280
Var. Actual to Annual Budget %
Annual Budget
95%
89,350 2,625 3,000 400 500 12 5,000 100,887
110%
85,000 4,550 200 3,500 93,250 7,637
