Respectfully submitted by Karin Reinhold
With data and advise from Paul Frament
Treasurer’s Comments
Regular love offerings are better than the average for May (as calculated by Rob’s Budget which averaged several years).
- We are spending a little less than projected numbers from 2020 budget. This is because we have not hired a bookkeeper nor an office assistance. Factoring those out, expenses were bigger in May because:
- We purchase the new software that helps us manage membership and tithes, Servant Keeper;
- Costs associated to Zoom, website management and Dropbox;
- We bought a new lawnmower. Danny is going be cutting the lawn and put some flowers, but we need someone to trim the bushes.
- Tithes:
–Arrangements have been made to pay Jan-Apr tithes. The full amount is $6,067.38 after subtracting the tithes paid to John. In total, we paid $8,545.73 in total tithes for the period Jan-Apr.
–Dave and I are looking to add new places to tithe.
- A reduction of expense: June will be the last payment for health insurance for Rev Crystal (July invoice).
- We are looking into late fees and paying bills as they come and keeping a list of bills to be paid not to miss due dates for bills.
PayPal & Servant Keeper (SK)
- Cheri Warren has trained me with Paypal and the booker functions in Servant keeper.
- From Paypal, we can get love donations and upload them into SK by simply uploading a file. I think it also has a connection with Quickbooks, Paul will let me know.
- We’ll do the same with check and direct deposits into Capcom.
- I’ll be doing weekly uploads. Wish me luck.
Investment Update
–After a jittery market, our investments are back around to where they were at the beginning of the year. Original investment was $180,000 (5 years ago)
–Balance Feb 2020: $ 195,596.56
–Balance Mar 31, 2020: $184,344.66
–Balance May 31, 2020: $195,704.33
Dividends: $280.25
During May the account gained $3,552.13 due to market bouncing back a bit.
Assets
Checking/Savings May 31, 2020
CAPCOM Checking $36,115.98
CAPCOM Money Market $11,949.07
CAPCOM SAVING $4,301.94
Total Checking/Savings $ 52,366.99
Investment:
CDC Loan Fund $20,000.00 Community Loan Fund
Merrill Lynch $195,704.33
Total Investments $215,704.33
TOTAL ASSETS $268,071.32
CHARTS
