Below is the Finance Report for June 2023. These have been updated to provide a fuller understanding of our financial position.
The first section is titled ‘Operations’, summarising giving, expenses and forecast operating profit/loss for the year.
The second section is titled ‘Cash’ which reports the total amount of cash coming in and out of our main bank accounts and the forecast cash surplus/deficit for the year.
You will notice there is a difference. The reason for this is that each month, in addition to our regular expenses, we transfer funds out of our main accounts into our savings (Project) account. These transfers were approved in the budget.
A surplus from operations is required to allow regular transfers to savings. This allows us to provide for our future sustainability. At our current level of giving, we will not be able to continue this budget level saving and achieve our breakeven budget.
In the report, the Cash Flow graph represents our ‘Cash at Bank’ at the end of each month. ‘Cash at Bank’ refers to all our bank accounts, excluding Capital Funds or Special Projects Account. The second graph illustrates the gap between budgeted and actual giving to help us see how any ‘gap’ is tracking.
We are currently below our giving target by 11% so please take the time, if you haven’t already, to review your giving for this year.
For a more detailed explanation of our current financial position, or if you have any questions, please feel free to contact our Finance Manager, Janet Sutton, for more information – 3398 4333 or firstname.lastname@example.org