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Financial Report for October 2019

Financial Report for October 2019

Finance Report

As  you  can  see  from  the Financial Report Summary below, our church went into a deeper hole for August Year-to-Date by a little over $36,000.

 After consulting with Tami, the Comptroller, I have discovered two areas where we are coming up short.  While Lakeview people are doing a really great job of giving, we are currently running about $13,000 less than the church’s needs but the giving is still about $2,600 more than last year at this time, so great giving everyone, continue to give to the best of your abilities. 

The other part of the deficit is due to changing Lakeview’s investments to a different investment company that will pay about the same in interest in the long run each month as before as this interest cycle is in the process of being reestablished. But the great news is that the expenses for managing the Lakeview’s funds for the CD portion of the investments went from thousands of dollars in expenses to zero.

There is a charge for managing Lakeview Stocks and Bonds investments but that has dropped from about $8,000 Year-To-Date to just $2,100, so another big savings. 

Lakeview departments continue to keep operating expenses under control and currently Year-to-date is running about $17,300 less than budget (this includes savings from investments).  We are all working together to do a great job.  Summers seems to be a difficult time for giving but summer is almost over and we are continuing to do better than we did last year, great job everyone. 

I am continuing to ask everyone at Lakeview to pray for God’s Word to be fulfilled so that

“Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver” (2 Cor. 9:7).

I do believe we have cheerful givers at Lakeview.  So continue to pray for God’s guidance, give what is in your heart to give, and God’s Blessings to All.

 Eli Reeves, Finance Chairperson

Financial Report
 Year to date as of 8/31/19:  Budget  Actual
 Offerings received  $430,240  $414,772
 Other income received  $116,474  $96,428
 Total income received  $546,714  $511,200
 Expenses paid  $564,808  $547,475
 Income OVER/UNDER expenses by ($18,094) ($36,275)
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