Financial Report | January – April 2023

Holy Trinity Parish
January – April 2023 Financial Report
Comparison to Budget

2023Budget
Ordinary Revenue
Regular Sunday Donations141,151138,333
Christmas/Easter4,8457,800
Initial Offering1,2631,500
Parish Development Fund5,8575,000
153,116152,633
Extraordinary Revenue
Adult/Children/Youth Ministry1,4831,333
Fundraising(1)11,9552,000
Community & Shelter Donations1,6002,000
Books/Flowers/ Religious Items/Candles2,047633
Diocesan Collection Rebates1,1171,000
Interest on deposit(2)11,6089,750
Room & Board15,28014,933
Other Donations/Bequest/Stole Fees10,9943,920
Assistance from Diocese(3)10,00010,000
66,08345,570
Total Revenue219,200198,203
Expenses
Church/Residence Operating Expenses
Insurance/Property Tax13,91314,867
Utilities20,70029,883
Cleaning/Snow removal14,54015,700
Maintenance/Supplies8,3363,936
Household expenses3,2106,667
60,70071,053
Administration
All salaries & benefits(4)129,579107,505
Office expenses & supplies12,87410,700
142,453118,205
Programs
Alpha/Faith Studies6731,233
Liturgy/Music Ministry3,8892,833
Adult/Children/Youth Ministry2,6442,100
Care & Companionship Ministry0350
Hospitality Ministry184167
Leadership Development2311,667
Fundraising1,000273
8,6218,623
Diocesan Assessment20,29021,333
Total Expenses232,063219,214
Net Income(5)-12,863-21,011

Notes:

  1. Fundraising income is mostly from the Lenten Appeal; however, the budget was spread over the entire year
  2. Interest is over budget because the Archdiocese raised the interest rate they are paying
  3. Archdiocese is providing $30,000 this year in financial assistance
  4. Salaries are over budget currently due to a labour issue with a past employee. It’s shown here for
    transparency, but this will not impact our overall operating budget
  5. Our overall yearly budget is for an $11,000 loss. However, the budget is front loaded with expenses such as snow clearing, heat, etc that are higher in the Jan-Apr time frame vs the rest of the year. For comparative purposes, straight-lining our budget would show a loss of only $3938.55 to date