General Fund Results Through October
October 2022 YTD |
Revenue |
Expense |
Net Income/(Loss) |
Actual |
$262,401 |
$253,020 |
$9,381 |
Budget |
$258,870 |
$266,639 |
($7,769) |
Like September, October pledge giving was well below average. YTD pledge giving, while considerably below last year, is still ahead of budget but this favorability is declining. This is due largely to givers who have paid ahead or already paid their full annual pledge. Unpledged giving, while bolstered by a large donation from the Preschool, is still well short of Budget.
Thanks to continued focus on cost containment, expenses YTD are less than budget. However, it’s worth noting that several larger property-related expenses have been paid from the Property Renovation dedicated fund.
As a result, YTD Net Income is positive. However, since the favorability in pledge giving will almost certainly decline over the balance of the year, we still expect a net shortfall for the full year, although somewhat less than previously projected.
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