Preliminary Financial Summary for 2020
With this note is a slideshow exhibiting the preliminary financial results for the year 2020 ending December 31. We are very pleased with the support that the congregation provided during this difficult period. Although we were unable to have the usual Christmas Story evenings, which in the past generated significant revenue for the music ministry, we still managed to end the year in a net positive position.
In addition, we have received money from the Covid government support programs. We are not showing these amounts in the financial summary since we are holding back those funds for special projects and potential future 2021 revenue shortfalls. In addition those funds are subject to audit and could be returned to the government. We also annually receive fund transfers from the Endowment Fund. This usually occurs later in the first quarter of 2021. Last year this amounted to a little over $28,000 and this year it is assumed that figure should be somewhat similar.
Overall we did have reduced revenues and expenses but we maintained full employment for all staff that wished to continue to work. This is a highly desirable result and we give thanks to our congregation and staff for all of the combined efforts. We have enjoyed new creative programs for families and children as well as our excellent music ministry. It has been a memorable year and from the Finance Committee overseeing the finances of the Church we are very thankful. We encourage you to please maintain your support in 2021, and with vaccines being administered through the year, we are very hopeful for a full recovery of our social norms which will allow us to resume full activities in the Church.
Sincerely,
Derek Thompson
Chair, Finance Committee
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