2023 - Q2 Financial Report
NOTES ON 2nd QUARTER FINANCIAL REPORT
Regular Offerings are slightly greater than expected.
Mission & Service giving’s received by McDougall for June will be forwarded to the United Church of Canada in July.
A portion of the $70,000 received from the Foundation for Capital Improvements (flat roof repair) were used for the initial work invoice in May. The remainder of the roof repair in ongoing in July and the remaining funds were transferred into the McDougall Savings account to earn interest until the second invoice is received and paid.
Therefore, the excess/retained income in the 2nd Quarter has resulted in almost $15,000 surplus rather than the expected almost $40,000 deficit.