TREASURER S REPORT January 2015 Highlights: This report has been issued before the final budget detail has been entered into the data system (Quickbooks). There is no planned deficit as indicated on the P&L. These kinks will be worked out by February s report. Thank you for your patience. In 2014, many months saw offerings with unusual highs and unusual lows. This unpredictability seems to still be with us. Unfortunately, January s offerings were unusually low - the lowest of the past six Januarys. Direct deposits constituted 17% of giving in 2014. Direct deposits continue to represent our most stable and reliable source of income. General Fund income for January totaled $73,727 while expenditures totaled $103,133, resulting in a deficit of $29,406 (39.9% of income). It should be noted that January was a four Sunday month with three payroll periods. Building Fund income of $8,832 was less than the $9,174 monthly contribution toward the mortgage principle payment, resulting in a monthly deficit of $342 (3.9% of income). The balance of the Building Fund stands at $17,064. Church operating reserves notched down to 1.35 months (compared to ELCA s recommend 3 to 4 months). Designated Fund balances stand at $161,913 compared to $152,957 at the start of the month. The increase is due primarily to mustering Youth Ministry accounts and offerings designated toward reinvigorating the Stephen Ministry. o Council s designated fund balance is $10,002 o Memorials have a fund balance of $21,910 o The replacement reserve stands at $24,310. TLLC s Endowment received gifts totaling $25 in January. The unrealized value of investments decreased by $5,064. Endowment funds now stand at a balance of $406,902. Treasury Actions: None Actions Requested from Council: None Respectfully submitted, Mark Stuckey Treasurer
Offering Summary Monthly Offerings - 2009 through 2015 $140,000 $130,000 $120,000 $110,000 $100,000 $90,000 $80,000 $70,000 $60,000 $50,000 2009 2010 2011 2012 2013 2014 2015 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Cumulative Offerings - 2009 through 2015 $1,050,000 $1,000,000 $950,000 $900,000 $850,000 $800,000 $750,000 $700,000 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 2009 2010 2011 2012 2013 2014 2015 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
Months of Operation 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14 Sep-14 Nov-14 Jan-15 TLLC Operating Reserves Compared to ELCA Guidelines act high low
2:15 PM Balance Sheet As of January 31, 2015 Jan 31, 15 ASSETS Current Assets Checking/Savings Chase - Checking 98,504.80 Chase - General Fund Savings 10,366.12 Mission Inv Fund ELCA MM (7571) 1,323.55 Schwab Money Market 31,567.78 Total Checking/Savings 141,762.25 Other Current Assets Investments - Brokerage Account Amercan Funds Bond Fnd - ABNDX 50,043.42 Capital World Grw & Inc - CWGIX 1,213.10 Invesc Eqity and Income - ACK1Z 37,909.33 Invesco Corp Bond FD CL - ACCSZ 28,905.00 Unrealized App - Brokerage Acct 49,428.71 Vanguard Inflation Prot - VIPSX 26,577.23 Vanguard S/T Investment - VFSTX 26,246.00 Vanguard STAR Fund - VGSTX 35,513.78 Total Investments - Brokerage Account 255,836.57 Other current assets Cash value-insurance contract 5,543.00 Total Other current assets 5,543.00 Total Other Current Assets 261,379.57 Total Current Assets 403,141.82 Fixed Assets Land and Buildings 5,284,426.00 Total Fixed Assets 5,284,426.00 Other Assets City of Austin Phase III Env 11,208.00 Prepaid Items Prepaids - Youth Events 2,182.00 Total Prepaid Items 2,182.00 Total Other Assets 13,390.00 TOTAL ASSETS 5,700,957.82 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable 21,920.07 Total Accounts Payable 21,920.07 Page 1 of 4
2:15 PM Balance Sheet As of January 31, 2015 Jan 31, 15 Credit Cards Chase Corporate Credit Card MasterCard 2643 - Guerrero 5.00 MasterCard 3449 - Daily 97.45 Total Chase Corporate Credit Card 102.45 Home Depot 201.58 Sam's 49.52 Total Credit Cards 353.55 Other Current Liabilities CDC Liabilities Prepaid August Registration 350.00 Prepaid August Supply Fee 10,912.50 Prepaid May Tuition 35,229.00 Prepaid Summer Supply Fee 175.00 Total CDC Liabilities 46,666.50 Due to Endowment Fund Due to End - Firnhaber Fund 25.00 Due to Endowment - Paid -4,485.00 Due to Endowment Fund - Other 4,460.00 Total Due to Endowment Fund 0.00 Payroll Liabilities 403(b) Emp Contributions Pretax -233.03 Dependent (Day) Care FSA 0.06 Healthcare FSA -126.73 Supplemental Life Ins Premium 36.75 Total Payroll Liabilities -322.95 Total Other Current Liabilities 46,343.55 Total Current Liabilities 68,617.17 Long Term Liabilities MIF Loan 2,414,485.69 Total Long Term Liabilities 2,414,485.69 Total Liabilities 2,483,102.86 Equity LBTS Funds in General Fund 17,405.90 MIF Loan Principal Payments 13,104.00 Opening Bal Equity 3,046,325.26 RESERVE FUNDS 8,854.16 RESTRICTED FUNDS COUNCIL Council unrestricted 10,002.26 Page 2 of 4
2:15 PM Balance Sheet As of January 31, 2015 Jan 31, 15 Total COUNCIL 10,002.26 MEMORIALS Memorials - Pending 110.85 Memorials - Pending/Designated 21,799.00 Total MEMORIALS 21,909.85 MINISTRY - ADULT FAITH FORMATIO Media Resource Center 41.80 Total MINISTRY - ADULT FAITH FORMATIO 41.80 MINISTRY - CDC CDC Scholarship 3,517.20 General Fundraiser 11,291.66 Pizza Fundraiser 154.61 Plaque Fund 50.00 Total MINISTRY - CDC 15,013.47 MINISTRY - CHILDREN Beginning Youth Group (BYG) 975.00 Children's Ministries 1,551.37 Cooking Camp Receipts 1,871.26 Musical Camp (equity) 1,406.29 Sunday School Offering (equity) 1,376.20 Total MINISTRY - CHILDREN 7,180.12 MINISTRY - NURTURE Faith Practices Focus Group 91.58 Father/Daughter Dance 20.00 M&M Receipts 501.05 Mary Martha Group 467.77 Prayer Shawls 472.89 Stephen Ministry 5,074.00 Total MINISTRY - NURTURE 6,627.29 MINISTRY - OUTREACH SOCIAL Ministries Advent Offerings 0.20 Agua Viva (equity) 716.30 Bread for All Food Pantry 25.00 Christmas Offering 3,365.00 Easter Offering 549.20 MANNA 718.59 Missionary For A Day/Agua Viva 653.34 Olive Wood Project 34.25 Quilter's Dollars 114.17 Randall's 1,237.97 Social Min - Discretionary 203.24 Thanksgiving 222.00 Thrivent Choice Undesignated $$ 1,071.11 Page 3 of 4
2:15 PM Balance Sheet As of January 31, 2015 Jan 31, 15 Water To Thrive Project 772.00 World Hunger 50.00 Total SOCIAL Ministries 9,732.37 Total MINISTRY - OUTREACH 9,732.37 MINISTRY - WORSHIP A/V Improvements 436.99 Altar Guild Fund 481.40 ELW 262.39 Music Fund 231.50 Musicals 3,041.22 Total MINISTRY - WORSHIP 4,453.50 MINISTRY - YOUTH Youth - Nat Youth Gathering-NYG 14,659.78 Youth Financial Aid 1,072.69 Youth Fundraisers 6,454.23 Youth General 3,293.99 Youth HS Trips (other) 636.36 Youth MS Camps 1,003.98 Total MINISTRY - YOUTH 27,121.03 SUPPORT OPERATIONS Facilities Management Furniture Fund 92.70 Memorial Bricks 356.00 Replacement Reserve 24,309.66 Resurrection Garden Fund 30,230.73 Total Facilities Management 54,989.09 Pastor's Discretionary 675.00 Pastor & Staff Christmas Bonus 75.00 Wedding and Funeral Fund 4,092.62 Total SUPPORT OPERATIONS 59,831.71 Total RESTRICTED FUNDS 161,913.40 Net Income -29,747.76 Total Equity 3,217,854.96 TOTAL LIABILITIES & EQUITY 5,700,957.82 Page 4 of 4
2:13 PM General Fund P&L Budget Performance January 2015 Jan 15 Budget $ Over Budget Jan 15 YTD Budget $ Over Budget Annual Budget Ordinary Income/Expense Income A-OFFERING General Fund 36,486.33 36,486.33 General Fund - Direct Deposits 15,757.50 15,757.50 General Fund - IRA Dist 2,926.00 2,926.00 General Fund - Other 2,250.00 2,250.00 Initial Offering 135.00 135.00 Loose Offerings 672.50 672.50 Mortgage Buydown 200.00 200.00 Prepaid Pledge 500.00 500.00 A-OFFERING - Other 0.00 91,230.47-91,230.47 0.00 91,230.47-91,230.47 964,000.00 Total A-OFFERING 58,927.33 91,230.47-32,303.14 58,927.33 91,230.47-32,303.14 964,000.00 INTEREST/DIVIDENDS Bank Savings Interest 1.23 1.23 Money Market - Interest 0.30 0.30 Stock/Mutual Fund Dividends 264.23 264.23 Unrealized App. 1,602.30 1,602.30 INTEREST/DIVIDENDS - Other 0.00 68.78-68.78 0.00 68.78-68.78 5,000.00 Total INTEREST/DIVIDENDS 1,868.06 68.78 1,799.28 1,868.06 68.78 1,799.28 5,000.00 OTHER Building Funds Applied 9,174.00 9,166.67 7.33 9,174.00 9,166.67 7.33 110,000.00 Building Use 2,507.72 1,106.98 1,400.74 2,507.72 1,106.98 1,400.74 15,000.00 CDC Earnings Applied 1,250.00 1,250.00 0.00 1,250.00 1,250.00 0.00 15,000.00 Total OTHER 12,931.72 11,523.65 1,408.07 12,931.72 11,523.65 1,408.07 140,000.00 Total Income 73,727.11 102,822.90-29,095.79 73,727.11 102,822.90-29,095.79 1,109,000.00 Expense COUNCIL Council Projects 511.91 511.91 Miscellaneous 0.00 0.00 6,400.00 Total COUNCIL 511.91 511.91 6,400.00 ELCA Mission Support 5,892.73 9,123.05-3,230.32 5,892.73 9,123.05-3,230.32 96,400.00 MINISTRY - CDC CDC Expenses CDC Allocated Expenses 1,250.00 1,250.00 Classroom Supplies 808.34 808.34 Misc. Expense 107.10 107.10 Office Supplies 229.98 229.98 Personnel CDC Employees 38,085.26 38,085.26 CDC Employees (Extended Hours) 512.68 512.68 CDC FICA/Medicare 2,932.17 2,932.17 CDC Worker's Comp 1,000.03 1,000.03 New Hire Expense 150.00 150.00 Total Personnel 42,680.14 42,680.14 Technology 99.95 99.95 Total CDC Expenses 45,175.51 45,175.51 CDC Receipts Tuition Tuition - Deposits -14,366.50-14,366.50 Tuition - Direct Deposits -20,487.50-20,487.50 Tuition - Extended Hrs -2,770.00-2,770.00 Total Tuition -37,624.00-37,624.00 Total CDC Receipts -37,624.00-37,624.00 Total MINISTRY - CDC 7,551.51 7,551.51 MINISTRY - CHILDREN Camps Musical Camp 0.00 0.00 2,000.00 Page 1 of 4
2:13 PM General Fund P&L Budget Performance January 2015 Jan 15 Budget $ Over Budget Jan 15 YTD Budget $ Over Budget Annual Budget Camps - Other 0.00 0.00 900.00 Total Camps 0.00 0.00 2,900.00 Milestones First Communion 0.00 0.00 600.00 Milestones - Other 0.00 0.00 645.00 Total Milestones 0.00 0.00 1,245.00 Nursery Care 242.00 242.00 Resources and Curriculum Resources & Curriculum General -220.00-220.00 2,825.00 Total Resources and Curriculum -220.00-220.00 2,825.00 Total MINISTRY - CHILDREN 22.00 22.00 6,970.00 MINISTRY - NURTURE Fellowship Fellowship Events 92.90 92.90 Sweet Connections -101.00-101.00 Fellowship - Other 0.00 600.00-600.00 0.00 600.00-600.00 600.00 Total Fellowship -8.10 600.00-608.10-8.10 600.00-608.10 600.00 Flowers 0.00 0.00 137.50 Kitchen supplies 717.39 34.86 682.53 717.39 34.86 682.53 500.00 New Members 219.22 219.22 1,325.00 Shared Ministry 0.00 0.00 2,200.00 Small Groups Prime Timers 0.00 0.00 100.00 Total Small Groups 0.00 0.00 100.00 Stephen Ministry 0.00 0.00 250.00 Wednesday Night Dinner 1,050.53 416.30 634.23 1,050.53 416.30 634.23 3,500.00 Total MINISTRY - NURTURE 1,979.04 1,051.16 927.88 1,979.04 1,051.16 927.88 8,612.50 MINISTRY - OUTREACH SOCIAL MINISTRIES Coffee Fair Trade -8.00-8.00 1,050.00 Total SOCIAL MINISTRIES -8.00-8.00 1,050.00 WITNESS Outreach Events 0.00 9.38-9.38 0.00 9.38-9.38 450.00 Outreach Materials 0.00 125.00-125.00 0.00 125.00-125.00 1,500.00 Total WITNESS 0.00 134.38-134.38 0.00 134.38-134.38 1,950.00 Total MINISTRY - OUTREACH -8.00 134.38-142.38-8.00 134.38-142.38 3,000.00 MINISTRY - WORSHIP Altar Guild Candles, Linens, Etc. 41.97 41.97 Communion Wafers 50.45 50.45 Communion Wine 64.98 64.98 Altar Guild - Other 0.00 226.80-226.80 0.00 226.80-226.80 2,720.00 Total Altar Guild 157.40 226.80-69.40 157.40 226.80-69.40 2,720.00 Audio Visual Expenses 0.00 0.00 2,747.00 Devotional Books 0.00 0.00 50.00 Drama 99.25 99.25 1,000.00 Flowers (receipt) 0.00 39.62-39.62 0.00 39.62-39.62 500.00 General Worship Supplies 0.00 0.00 500.00 Handbells 22.50 22.50 200.00 Hired Musicians 0.00 0.00 500.00 Instrument Tuning & Repair 0.00 0.00 700.00 Journals & Subscriptions 0.00 0.00 200.00 Liturgical Arts 0.00 62.50-62.50 0.00 62.50-62.50 750.00 Music Purchase 14.85 41.70-26.85 14.85 41.70-26.85 500.00 Right to Copy 0.00 80.87-80.87 0.00 80.87-80.87 970.00 Total MINISTRY - WORSHIP 294.00 451.49-157.49 294.00 451.49-157.49 11,337.00 Page 2 of 4
2:13 PM General Fund P&L Budget Performance January 2015 Jan 15 Budget $ Over Budget Jan 15 YTD Budget $ Over Budget Annual Budget MINISTRY - YOUTH Food 0.00 116.70-116.70 0.00 116.70-116.70 1,400.00 Immersions Lutherhill Fall Retreat 0.00 0.00 8,600.00 Lutherhill Spring Retreat 0.00 0.00 6,150.00 Summer Camp (MS) 0.00 0.00 5,000.00 Summer Trip (HS) 323.00 323.00 2,500.00 Total Immersions 323.00 323.00 22,250.00 Milestone Ministries Confirmation 2,747.50 2,747.50 Total Milestone Ministries 2,747.50 2,747.50 Resources & Curriculum 87.75 87.75 Total MINISTRY - YOUTH 3,158.25 116.70 3,041.55 3,158.25 116.70 3,041.55 23,650.00 MINISTRY -ADULT FAITH FORMATION Adult Education 89.85 83.37 6.48 89.85 83.37 6.48 1,000.00 Total MINISTRY -ADULT FAITH FORMATION 89.85 83.37 6.48 89.85 83.37 6.48 1,000.00 SUPPORT OPERATIONS Computer Internet WEB Page/Email 85.23 150.00-64.77 85.23 150.00-64.77 1,800.00 PC and Network Software 0.00 125.00-125.00 0.00 125.00-125.00 1,500.00 PC Hardware 383.59 250.00 133.59 383.59 250.00 133.59 3,000.00 PC Hardware Repair/Maintenance 313.82 91.70 222.12 313.82 91.70 222.12 1,100.00 Total Computer 782.64 616.70 165.94 782.64 616.70 165.94 7,400.00 Facilities Management Building Maint. Supplies 713.64 166.70 546.94 713.64 166.70 546.94 2,000.00 Building Maintenance 4,987.39 1,191.70 3,795.69 4,987.39 1,191.70 3,795.69 14,300.00 Care of Creation/Kitchen maint 0.00 1,000.00-1,000.00 0.00 1,000.00-1,000.00 12,000.00 Grounds Maintenance 0.00 0.00 7,500.00 Parking Lot Maintenance 0.00 0.00 15,000.00 Total Facilities Management 5,701.03 2,358.40 3,342.63 5,701.03 2,358.40 3,342.63 50,800.00 Mortgage Mortgage Interest 9,304.00 9,304.00 Mortgage Principle 13,104.00 13,104.00 Mortgage - Other 0.00 22,408.00-22,408.00 0.00 22,408.00-22,408.00 268,896.00 Total Mortgage 22,408.00 22,408.00 0.00 22,408.00 22,408.00 0.00 268,896.00 Office Bulletins & Office Printing 0.00 166.70-166.70 0.00 166.70-166.70 2,000.00 Copier, Paper, Maintenance 1,162.44 1,020.87 141.57 1,162.44 1,020.87 141.57 12,250.00 Devotion Books 0.00 0.00 150.00 Office Supplies 686.35 286.67 399.68 686.35 286.67 399.68 1,725.00 Postage 105.25 166.70-61.45 105.25 166.70-61.45 2,000.00 Total Office 1,954.04 1,640.94 313.10 1,954.04 1,640.94 313.10 18,125.00 Other Support Auto Expense Executive Director 0.00 0.00 100.00 Pastor 0.00 0.00 1,000.00 Youth Director 0.00 0.00 200.00 Total Auto Expense 0.00 0.00 1,300.00 Banking & Payroll Services Bank Fees 154.06 112.50 41.56 154.06 112.50 41.56 1,350.00 Banking & Payroll Svcs-Other 0.00 80.10-80.10 0.00 80.10-80.10 959.93 Payroll service fee 544.36 320.96 223.40 544.36 320.96 223.40 3,851.30 Total Banking & Payroll Services 698.42 513.56 184.86 698.42 513.56 184.86 6,161.23 Communications/Marketing Butterfly 0.00 0.00 2,750.00 Communications/Marketing-Other 0.00 0.00 3,500.00 Page 3 of 4
2:13 PM General Fund P&L Budget Performance January 2015 Jan 15 Budget $ Over Budget Jan 15 YTD Budget $ Over Budget Annual Budget Publicity/Advertising 0.00 199.61-199.61 0.00 199.61-199.61 1,000.00 Total Communications/Marketing 0.00 199.61-199.61 0.00 199.61-199.61 7,250.00 Dues and Memberships 0.00 0.00 500.00 Executive Director's Discretion 75.00 75.00 Pastor's Discretion 0.00 166.70-166.70 0.00 166.70-166.70 2,000.00 Stewardship Credit Card Charges 331.65 331.65 Offering Envelopes 0.00 675.58-675.58 0.00 675.58-675.58 1,000.00 Vanco Service Fees 53.58 53.58 Total Stewardship 385.23 675.58-290.35 385.23 675.58-290.35 1,000.00 Total Other Support 1,158.65 1,555.45-396.80 1,158.65 1,555.45-396.80 18,211.23 Personnel Benefits FICA/Medicare 1,889.96 3,602.72-1,712.76 1,889.96 3,602.72-1,712.76 30,343.32 Health & Other Benefits Group Life Insurance 144.49 144.49 Health Insurance 3,520.30 3,520.30 Retiree Support 126.44 126.44 Health & Other Benefits - Other 0.00 10,527.72-10,527.72 0.00 10,527.72-10,527.72 88,668.34 Total Health & Other Benefits 3,791.23 10,527.72-6,736.49 3,791.23 10,527.72-6,736.49 88,668.34 Retirement (Employer Contribut) 1,862.47 1,862.47 Total Benefits 7,543.66 14,130.44-6,586.78 7,543.66 14,130.44-6,586.78 119,011.66 Employment/Volunteer Screening 415.50 83.37 332.13 415.50 83.37 332.13 1,000.00 Personnel - other 0.00 229.20-229.20 0.00 229.20-229.20 2,750.00 Professional Expenses Cont. Educ - Dir. Worship 0.00 427.92-427.92 0.00 427.92-427.92 1,700.00 Cont. Educ - Office Staff 0.00 0.00 500.00 Cont. Educ - Pastor 0.00 0.00 1,000.00 Cont. Educ - Youth Director 0.00 0.00 5,000.00 Total Professional Expenses 0.00 427.92-427.92 0.00 427.92-427.92 8,200.00 Salaries - TLLC Employees - Full Time 36,330.78 29,932.98 6,397.80 36,330.78 29,932.98 6,397.80 265,437.35 Employees - Part Time 0.00 8,485.97-8,485.97 0.00 8,485.97-8,485.97 101,830.65 Visitation Pastor 0.00 0.00 14,454.00 Total Salaries - TLLC 36,330.78 38,418.95-2,088.17 36,330.78 38,418.95-2,088.17 381,722.00 Supply Pastor 0.00 1,372.78-1,372.78 0.00 1,372.78-1,372.78 3,600.00 Workers Compensation -216.92 256.90-473.82-216.92 256.90-473.82 5,106.40 Total Personnel 44,073.02 54,919.56-10,846.54 44,073.02 54,919.56-10,846.54 521,390.06 Utilities & Security Building Insurance 1,439.10 1,291.70 147.40 1,439.10 1,291.70 147.40 15,500.00 Electricity & Water 4,799.25 3,062.50 1,736.75 4,799.25 3,062.50 1,736.75 36,750.00 Elevator 0.00 0.00 1,250.00 Fire Alarm Monitoring 0.00 0.00 500.00 Natural Gas 69.66 58.37 11.29 69.66 58.37 11.29 700.00 Pest Control 0.00 312.50-312.50 0.00 312.50-312.50 1,250.00 Religious Coalition to Homeless 262.43 208.37 54.06 262.43 208.37 54.06 2,500.00 Security System 0.00 0.00 1,000.00 Telephone 526.88 1,184.17-657.29 526.88 1,184.17-657.29 14,208.17 Trash Removal 466.88 354.20 112.68 466.88 354.20 112.68 4,250.00 Total Utilities & Security 7,564.20 6,471.81 1,092.39 7,564.20 6,471.81 1,092.39 77,908.17 Total SUPPORT OPERATIONS 83,641.58 89,970.86-6,329.28 83,641.58 89,970.86-6,329.28 962,730.46 Total Expense 103,132.87 100,931.01 2,201.86 103,132.87 100,931.01 2,201.86 1,120,099.96 Net Ordinary Income -29,405.76 1,891.89-31,297.65-29,405.76 1,891.89-31,297.65-11,099.96 Net Income -29,405.76 1,891.89-31,297.65-29,405.76 1,891.89-31,297.65-11,099.96 Page 4 of 4