2010 First Quarter Financial Report

The first quarter Profit and Loss financial reports are attached for review. The quarterly loss that is noted resulted in a problem with the cash flow. The April 15th payroll was delayed by two days until the GiveMN money was deposited on April 15th. The Pastor’s salary was limited at the end of the month due to cash limitations. The salaries have been paid in full since that time.

The excellent giving response by the congregation so far in May has stabilized the cash flow for now. In fact, the budget may actually be met and perhaps exceeded this month! There remains, at this point though, a $9,600 budget deficit. This may present cash problems through the summer months.

The positives are that all our bills are paid to date, salaries are fully paid, and money will be available through sponsorships for expenses related to James Alison’s visit to House of Mercy.

What do you think about this idea? If each person at House of Mercy donated an extra $50, the budget deficit could be decreased significantly and may even be eliminated.

04-30-10 Profit-Loss

04-30-10 Budget vs Actual Profit-Loss

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