Message from the Treasurer

by Stephen Hall

Operating Budget: Operating income continued to exceed expenses for the month of October.  Our Pledge payments are about ^$326 under where we expected them to be at this time.  There are several non-pledge gifts that are recorded in the Plate Offerings line in 2011 which has contributed to the higher than usual plate receipts for 2011.

There was a change in the accounting system in 2011 with respect to the plate offerings and pledge payments lines.  The Pledge Payments line for 2011 includes only receipts against pledges that parishioners made at the end of 2010 for the 2011 operating period (i.e., pledge cards received or pledge made verbally).  The reason for this change is to discretely segregate the actual pledge income from all other income.  Historically, parishioner’s “non-pledged gifts” were often recorded as “pledged income” regardless of whether or not they filled out a pledge card.

Despite the change in accounting for Pledge and Plate Income for 2011, our aggregate giving is higher in 2011 than 2010 year-to-date.  Operating expenses are also lower than anticipated with Repairs and Maintenance being the operating expense line in the budget running the most under budget by about ^$5,300 year-to-date.  Thank you again for continuing to keep up with plate and pledge payments in support of Grace Episcopal Church.