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St Luke’s Annual Meeting 2014 Budget Update

St Luke’s Annual Meeting 2014 Budget Update. February 2, 2014. How we started 2013 ( Last year’s Annual Meeting). Closing 2012 Net Deficit of $259 (0.1%) Starting 2013 Projected Income of $353,038 Projected Expenses of $335,043 ($17,995 or 5%.). How we ended 2013. Income:

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St Luke’s Annual Meeting 2014 Budget Update

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  1. St Luke’s Annual Meeting 2014 Budget Update February 2, 2014

  2. How we started 2013 (Last year’s Annual Meeting) • Closing 2012 • Net Deficit of $259 (0.1%) • Starting 2013 • Projected Income of $353,038 • Projected Expenses of $335,043($17,995 or 5%.)

  3. How we ended 2013 • Income: • Pledge growth of $7,038 • New members! • Plate exceeded estimates by $2,775 • Rental/usage excess of $4,404 • Net Income $363,993 • “Surplus” of $10,955

  4. How we ended 2013 (Cont.) • Non-Payroll Expenses: • Budget $79,337 – Actual $84,415 • Payroll Expenses: • Budget $210,642 – Actual $209,334 • Diocese and Convention: • Budget $45,367 – Actual $45,655

  5. How we ended 2013 (Cont.) Bottom Line Revenue over Expenses of $24,590 or 6.8% margin!

  6. Select Dedicated FundsNot part of operational/parochial budget • Savings (Endowment) • Total from $334,653 to $371,305 • Memorial • Receipts of $3,591 on $7,645 expenses. • Outreach & Others • Receipts of $38,658 on $39,667 expenses. • Capital Fund • Receipts of $16,537 on expenses of $14,041.

  7. Proposed Budget for 2014 • Positive Net Budget • Income of $343,732 – Expenses $341,740 • “Excess” of $1,992 (0.6%) -discussion on next page • Income (Down $9,306 YTY) • Pledge & Plate of $334,332 (Down $7,449 YTY) • Rental of $8,400 (Down $1,857 YTY) • Expenses reflect • Non-Payroll $92,106 (Up $12,769 YTY) • Payroll Expenses of $204,076 (Down $6566 YTY) • Diocesan Expenses of $45,558 (Up $191 YTY)

  8. Going Forward • Items of Financial Notation • Advertising Increase of $3,000 (MPR) • Decrease in Staff Health Insurance - $7,764 • Budget “Excess” of $1,992 • Recommend that Vestry consider compensation increases as part of employee evaluations in June

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