Sunday 11 January 2015

Financial Report of January - December 2014

Actual
Budget

Income

Offerings$296,883$295,000
Offerings - Special for Designated Donation$3,349-
Rent & Others$58,367$58,584
Total Revenue$358,599$353,584

Expense

Ministries (Incl. salaries
of the pastoral staffs)
$189,831$193,136
Administration (Incl. salaries
of the admin staff)
$60,454$61,815
Loan Payment$74,000$50,000
Loan Interest$6,789$5,112
Saving for Maintenance--
Building & Grounds$16,009$30,090
Special Donation$2,785-
Others$8,536$14,225
Total Expense$358,404$354,378
Restricted Fund-($500)
Balance$195($1,294)

Accounting Adjusting Entries

Amortization($31,647)-
Loan Payment74,000-
Savings for Maintenance--
Accounting Net Income (Loss)$42,548-




Loan

CBWC Loans
Congregational Loan
Total
Dec 2013
-
$382,238
$382,238
Dec 2014
-
$314,469
$314,469

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