From the Treasurer

It is my privilege and pleasure to summarize for you the financial results for the first half of 2021.

Let me start by thanking you for your continued support during these challenging times. The financial commitments you made in the stewardship campaign last fall, in the middle of the pandemic, are being met. My heartfelt gratitude to you for that.

Saint Philip’s staff has been able to continue to provide services, pastoral support, outreach, and other ministries, as well as continue to expand our capabilities to offer services online. This has been made possible by your generosity.

The graph included here demonstrates that our financial results are good. Both our income and our expenses are running at about 95% of budget resulting in a loss of less than three thousand dollars at the end of June. That is less than one-half of one percent of the budget. Our contribution income, i.e. pledge and plate, is at 91% of the budget, which is within the expected range for mid-summer.

Our cash position (bank balance) continues to be excellent, ensuring we will get through the summer with no problem paying our bills.

As you know, Lois Britton is retiring at the end of August. The transition of her financial management responsibilities to an outside firm, YPTC (Your Part-Time Controller), has begun. Anthea McCarty, our bookkeeper, will continue to provide day-to-day financial operations and work closely with YPTC.

I am pleased to report that the 2018 audit is complete and the audit report has been accepted by your vestry. Preparations are underway for the next audit. Our plan is to combine the 2019 and 2020 audits, both to save money and complete catching up.

As we prepare to resume services and other parish activities in the fall, your Finance Committee will review the budget and work with the staff to ensure the continued financial health of the parish.

Thank you again. Blessings.

Herb Burton, Treasurer