Page 40 - 2019 Annual Report - Final (with cover)_Neat
P. 40
2019 Annual Report
Statement of Income, Expenses and Assessments
General Fund / Church Operations
2018 Actual 2019 Budget 2019 Actual
INCOME As Restated As Restated
Offerings 291,330 300,000 284,380
Rentals 159,797 234,200 218,146
Less: Rental Expenses (Note 3) (71,000) (103,985) (96,857)
Less: Allocation Major Repair Fund (Note 4) (7,990) (11,710) (10,981)
Net Rental Income 80,807 118,505 110,308
Grants (Note 5) 64,200 70,428 70,428
Other 4,197 5,000 6,791
Total Income 440,534 493,933 471,907
EXPENSES
Compensation 278,606 350,340 329,479
Less: Rental Expenses (Note 3) (35,500) (51,992) (48,428)
Net Compensation 243,106 298,348 281,051
Ministries 18,898 31,625 32,276
Property 108,162 116,500 117,814
Less: Rental Expenses (Note 3) (35,500) (51,993) (48,429)
Net Property 72,662 64,507 69,385
Administration 20,312 30,820 30,198
Total Expenses 354,978 425,300 412,910
ASSESSMENTS
Presbyterians Sharing 37,862 41,422 41,222
Pension Plan 18,940 20,711 20,711
Presbytery 6,831 6,501 6,501
Total Assessments 63,633 68,634 68,434
Surplus (Deficit) 21,923 - (9,437)
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