FINANCE COMMITTEE REPORT


The meeting of our church’s financial obligations in 2007 was particularly challenging, with the loss of a few individuals that historically have  supported our church significantly.  However our bottom line was greatly helped when the film industry required the use of our facilities (and some of our members donated their earnings to the church) late in 2007.  As well, many members of the church supported the “On Track” campaign to help us stay on the positive side of the ledger. 

In the past, we have “borrowed” from the Building Fund to help ensure our general operating fund had adequate resources to meet commitments (salaries, services etc).  This year we moved to establish a line of credit to be used during those periods when there were inadequate funds in the operational account.  While the operational account did in fact drop to very low levels, opportune givings at key times during the year resulted in not using our line of credit in 2007. 

As can be seen from the financial report, we started the year with $9,000 in the operational account and ended the year with almost $14,000.   As indicated at the outset, a significant amount of the donations ($9,400) were from unplanned sources (film and the “On Track” campaign).   As is usually the case, our thanks again goes to the United Church Women who undertook a number of fund raising projects that contributed significantly to our bottom line.  Thanks as well to our membership, who continue to financially support us through regular givings.  

The Mission and Service Committee continued with efforts to keep M & S requirements in focus and
$ 12,000 was raised.  As well, almost $ 5,900 was raised in other special appeals, including direct financial support to the First United Church Mission.

The status of other funds is as follows:
    Benevolent Fund    $ 1,133  
    Memorial Fund      $      55
    Sunday School        $    358
    Building Fund        $ 8,230
 
The Finance Committee continues to support the idea of planned givings (envelope and PreAuthorized Remittance (PAR)) as a means to help us budget our expenditures better. 

It takes a great deal of effort by a number of people to support our church community.  We appreciate the effort of groups that participate in fundraising activities and of congregational members that give of their time and financial resources for our numerous activities as well as for weekly givings. It is through support like this that we can ensure an active Christian presence in downtown Squamish.

Members:  B. Ionson (chair),  S. Puchmayer, P. Gordon, K. Haberl, M. Tardif

Submitted by:

       Bert Ionson

Treasurer (Finance Committee Chair)  
 


RECEIPTS AND DONATIONS FOR THE YEAR ENDING DECEMBER 31st, 2007

SQUAMISH UNITED CHURCH  -  GENERAL ACCOUNT


RECEIPTS:

1.    Envelopes & P.A.R.                                                            81,402.71
2.    Open Offering                                                                       5,419.73
3.    Appeals and Gifts                                                                 3,728.00
4.    G.S.T. Rebate                                                                       1,082.90
5.    Fund Raising  (Auction, Garage Sale, Fall Dinner, etc.)   2,328.00
6.    U.C.W.  Donation                                                                 3,000.00
7.    Trustee Account Transfer                                                  28,000.00
8.    Annex and Church Honorariums                                       4,267.47
9.    Mission & Service Fund.                                                    11,991.31
10.    First United Church Mission                                                889.00
11. Miscellaneous Credits                                                                37.67
12. Observer                                                                                   171.00
13. Bereavement Group Advertising Payment                           397.47
14. Sea to Sky Productions (filming honorariums)                  3,900.00
15. “Back on Track” Special Appeal                                        5,559.25


TOTAL:    152,174.51

_________________________________________________________________________________

COMPARISON OF 2007 BUDGET VERSUS ACTUAL EXPENDITURES


(*from manse fund returns)

                                                    2007 Budget            2007 Actual
Remuneration:

Subtotal                                       104,468.00                100,338.38
       
Secular Expenses:
  
   *Insurance                                   3,300.00*                   3,564.00*
     Municipal Services                    3,000.00                     2,645.40
     Heating Fuel                              4,400.00                     4,911.99
     Electricity                                   2,000.00                     1,521.63
     Telephone/Internet                    2,800.00                    2,579.84
     Security System Monitoring        500.00                       674.16
     Copier Lease/Service                 3,100.00                    2,286.49
     Maintenance                               1,300.00                     653.58
     Sundries                                         700.00                     
     Banking Costs                               450.00                     649.86
    *Audit                                           3500,00*                  3,710.00*

Subtotal                                          25,050.00                  23,196.95

Outreach:
    
Mission and Service                       12,000.00                 11,991.31
     Other Outreach (First United Mission, etc)                  889.00
     Mission and Service Committee                                    200.00                     
     Presbytery                                   4,268.00                   4,268.00
     Observer                                         260.00                      224.00
     Guest Speakers (pulpit relief)        500.00                      181.10
     Caring Ministry                              400.00                      262.93
     Church and Office Supplies
            (incl. capital additions)         2,700.00                   2,351.30
     VST                                                 400.00                      400.00
     Music                                               350.00                      421.76
     Christian Education                    1,200.00                      848.51
     Youth Group                               1,000.00                    
     Nursery                                           150.00              
     Congregational Activities              600.00                      117.20    
     Paper Advertising/Web site        1,000.00                   1,034.33
     Ministerial                                                                        150.00
     Facilities Development                 ___________             985.80

Subtotal                                             25,178.00                23,975.24

TOTAL GENERAL FUND          154,696.00              147,510.57                                                      



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