Finance Update Mar 6, 2016

Agenda Performance Review 2. Capital Accounts Budget

2015 Performance - Summary BUC was $79K ahead vs budgeted deficit in 2015, driven by bequests and cost savings

2015 Performance - Revenue Details 2015 Performance – Details Account Highlights Total offering below budget by $23.5k Significant unplanned Bequest, drove positive revenue vs Budget Investment income down slightly recognizing drop in investment value vs interest income only Rental ahead of budget up approx. 40% vs 2014 Solar on stream, some cash returning as “loan repayment” vs revenue Significant fund raising (concerts, Christmas market, etc) ahead of plan, also +40% vs 2014

2015 Performance - Expense Details 2015 Performance – Details Account Highlights Personnel savings due to vacancy, lower property mgmt. costs, some benefits savings Admin overage due to photocopies, internet charges, and bookkeeping – being reviewed M&S should not be a savings, to be covered in 2016 Net Deficit improvement from -$124k to -$45k = Positive $79K

Capital Accounts Account Highlights Overall balance for Manse and Memorial funds are $562k Cash and operating accounts have $123k – which should carry through bulk of 2016 Wider Ministries commitment – YAG seen as commitment or liability. Not a financial commitment per presbytery, but our own congregational commitment We have received notice of a sizable bequest to arrive in next couple of months. When it arrives we will announce it and identify its role in our LT financial plan Capital accounts have dropped slightly vs YAG reflecting the income shortfall

2016 Budget - Summary The 2016 budget revenue assumptions are down vs 2015, driven by bequests, ex bequests, revenue up 10% Account Highlights Envelopes and Loose – holding flat, per last 2 years PAR – holding flat to last year, but risk to #, as fewer participants vs 2015 Investment income – estimate Bequests – not planning, historical practice of recognizing as revenue, changing to better practice Rent – projection based on team estimates, coordinator plan Solar – per original launch plan, recognition of roof rental vs loan repayment required Southlot – project underway, could take 9 months Fundraising – continuing recent trends, needs to be focus Other - unplanned

2016 Budget - Summary The 2016 budget expense assumptions are up vs 2015, driven by increased property maintenance; Deficit is $115k Account Highlights Personnel – based on current model, including 2 FT ministers ( 1 for ¾ of year), music leader, property mgmt., PT admin, ¾ time Property mgr, PT property support, rental coordinator Facilities – increase vs prior year driven by expected maintenance Admin – hold below 2015 M&S/Presbytery - in line with revenue predictions Deficit - $115k driven lower revenue and higher expense vs 2015