Cathedral Financial Update – adjusted to 30 June



June 2021 Operational income: $44,597 Operational expenses: $29,598 To 30 June we are AHEAD: $5,944

The Financial Update that appears in the Cathedral bulletin each week is an attempt to share information about our current financial status month to month.

It might not be difficult to imagine that accurately reporting our financial reality is a challenging task. "Designations" or "restrictions" on offerings adds a layer of complication as not all of the offerings we receive are available for use towards the general operating budget. At the same time, offerings fluctuate month to month having the potential to make it difficult to meet regular expenses.

In June 2021, an attempt to incorporate some new realities into regular reporting resulted in a January - June adjustment in those numbers to date. Notes to the June Financial Summary include:

  • the Summary is adjusted January to June better reflecting our current financial status
  • June expenses are significantly less than previous months for various reasons, including an end to the annual heating season
  • the staff parish nurse position has been vacant February -June 2021
  • annual interest from the clergy housing fund (O'Dell sale) has now been anticipated/estimated monthly to offset some of the clergy housing allowance expense
  • we received a generous and unexpected donation of $4000 in May following the death of a Cathedral member
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