Monthly Financial Reports

One of my monthly tasks is balancing our bank accounts and once balanced, to produce the monthly financial report packets.

Each packet contains four statements that report the activity of
1. the entire organization, those pages are usually white
2. the church, those pages are usually blue
3. the daycare ministry of the church, those pages are usually lilac
4. the school ministry of the church, those pages are usually green

Each of these reports have 1 to 3 pages entitled Statement of Operations. The Statement of Operations pages have 7 columns. From left to right:
The first column lists the different income and expense categories.
The next three columns report the actual, budget and budget variance for the monthly activity.
The final three columns report the actual, budget and budget variance for the year to date activity.
The Statement of Operations shows how we are doing over time compared to our projected budget.

Each of the reports also has a page labeled Statement of Assets, Liabilities, and Net Assets. This page shows how much cash each area has and the accounts in which it is located. It's like a snapshot of where all our assets are. The page labeled Operating Cash Worksheet reports similar information. It's bottom line shows how much money is in the General Fund beyond the amounts we have set aside.

The final page in the packet, which is usually yellow, reports the Sunday morning attendance figures on one side, comparing the current attendance with prior years on one side. On the opposite side is the giving figures comparing the current giving with the prior years. All of the giving and attendance figures are recorded weekly, with week 1 representing the first Sunday in July so the worksheet matches our July-June fiscal year.

These reports are presented to the Elders and Board of Education each month. Copies are also available for anyone to pick up in Alpha Lobby.

If you have any questions about the statements, would like to understand them better or about anything else, please contact me.