Financial Update for the End of May 2024

I just wanted to provide an update regarding our financial situation as of the end of May.  While our revenues historically do tend to fluctuate from month to month, they are presently running about $30k lower than budgeted. While we expected to rent the parsonage early in the year, we had not received any rental income by the end of May. In addition, we ran into some unexpected costs to make the parsonage rental-ready. Further, offerings for the first five months are about 12% under what was budgeted. However, expenses have also been about 5% below what was budgeted, due in part to staffing changes. As a result, net income for the first five months was approximately -$25,107—which is about $16,409 below budget.

On the bright side, a rental contract has been signed for the parsonage, so we will be receiving rental income going forward. Further, St Mark’s has been blessed in the past to see income increase from end the year giving. So I am hopeful that we will close this budget gap by year end. 

If you’ve been postponing any donations, the Finance Committee urges you to take action!

Thank you so much for your continued support!

Bonnie Gauch

Chair, Finance Committee