st. john the apostle anglican church port moody, bc 2015

St. John the Apostle Anglican Church

Port Moody, BC

2015 Financial Report

Presented at Annual Vestry Meeting

February 28th

, 2016

Parish of St. John the Apostle 2015 Financial Report

TABLE OF CONTENT

Brief Introduction………………………………………………………………………………………………………….Page 1-2

2015 Income and Expenditures Vs. Budget……………………………………………………………………Page 3

2015 Income and Expenditures Monthly Comparison and Year End Status……………………Page 4

2015 Special Funds Report……………………………………………………………………………………………..Page 5

2015 Capital Improvement Fund detail……………………………………………………………………………Page 6

2015 Bank Account Info as December 31th 2015…………………………………………………………….Page 7

2015 Balance Sheet as December 31th 2015……………………………………………………………………Page 8

2015 Financial Report Additional Information………………………………………………………………….Page 9

2016 Proposed Budget…………………………………………………………………………………………………….Page10


YEAR 2015 P1

Once a year of 2015 financial reports will be presented to you as routine, the briefly summarize 2015 financial reports are going to be introduced respectively as Table of content list. All figures have been rounded off to the nearest dollar.

Our financial reports are focusing on several areas: Operating Income and expenditures report shows regularly day to day running of the parish. Special funds report that reveals the parishioner designed donations is for special purpose, such as Capital improvement fund, or Food bank and etc. Balance sheet report displays the Church Assets, Liabilities and Retained Equity, not as detail as other reports. And Onward Transmission Funds are transferred donations to the outside agencies or programs for special needs such as Care & Share, Primate’s World Relief and Development Fund (PWRDF) program, Nepal Earthquake… etc.

Based on the 2015 Operating Income and Expense Vs Budget Report (page 3), 2015 actual income was 12.5% under the 2015 budget that partly caused by fundraising, which was transferred $7,407 into Capital improvement fund by reducing the amount of operating income in December 2015. And 2015 actual income was 3% under 2014 actual, but it was 20.8% over 2013. By contrast between 2015 and 2014 operating expenditures, 2015 was 6% higher than 2014 that mostly coming from Napier St. Taxes/Maintenance, Parish Assessments and Repairs and Maintenance, however, the total cost is still under 2015 budget.

2015 Monthly Income & Expenditures Comparison Report shows year 2015 ended with a net surplus of $1,132 (page 4).

According to Special funds report (page 5) , the Capital improvement fund, which combined the Contingency fund and fundraising from in December, also included 2013 to 2015 Thrifty smile card program, Parishioner roof and other donations. The Special funds are set up for specific projects use; therefore it couldn’t be used on a daily basis.

Capital Improvement Fund Detail is on (page 6).

Bank Account Status as of December, 31 2015 is on (page 7)

Balance sheet report shows Assets included Current, Long term and Fixed, Liabilities contained Current and long term, as well Retained Equity (page 8).

At the end of June 2015, Parish of St. John opened $100,000 dollars Consolidated Trust Funds (CTF) account as a part of Assets approved in the June council meeting.


YEAR 2015 P2

In January 2015 the second St. Margaret‘s fund $29,072 transferred to St.John’s. In

total $97,812 has been received since the 2014 merger. In July & August 2015, St.

John parish spent $6,765 on Architect and land Surveyor for new development

expanding church building approved by council. The balance is $91,047 at end of

year 2015. These funds still have been set aside as separate fund outside of the

operating income and special funds until the final merger documents have been

processed by the Diocese.

Onward Transmission Funds are collected from Parishioner and transferred

directly to the ministries or outside agencies designed by giver (page 9).

The Last page indicated the 2016 budget in comparison with 2015 & 2014

approved by Parish council in January 2016 (page 10).

In conclusion, we greatly appreciated all Parishioners for their support at the St.

John the Apostle Church. Thanks God. Thank you all.

Special thanks to Bonnie Soo Chan as an assistant of treasurer who has been

doing major bookkeeping works, despite having several months’ personal absence.

I would also like to thank Ruby Ng-Chen as the envelope secretary for recording

income collection and Sheila DeVaal as the account payable.

It’s been my pleasure to serve you as Treasurer in 2015; I sincerely appreciate to

everyone for support me.

Respectfully submitted

Jocelyn Juan Lu

Parish of St. John the Apostle, Port Moody

2015 2015 2014 2013Operating Income Budget Actual Actual Actual

OfferingsEnvelopes/PADs/Property/Special 186,194 162,922 168,412 141,630 Open 3,000 2,898 3,102 2,993

Interest 115 114 177 Fundraising 6,000 6,404 7,599 Misc. Income 5,500 4,121 5,589 6,914 Church & Hall Usage Donations 13,140 14,085 13,375 14,640 Napier St. Property Rental 26,100 26,100 19,575 -

240,049 210,126 216,570 173,953 Operating Expenditures

Ministry, Mission & OutreachChristian Formation Resources 500 227 322 3,133 Hospitality Resources 1,000 723 441 1,276 Pastoral Care Resources 400 136 67 153 Church School Resources 400 165 251 346 Rector 88,475 77,995 85,304 82,818 Other Clergy Costs 2,900 3,613 2,869 2,683 Children & Young Families 3,000 - -

Diocese & National MinistriesParish Assessment 46,178 39,258 32,704 28,293 Synod Expenses 850 690 805 690 Other Diocesan Expenses 1,300 1,275 1,050 50

WorshipAltar Guild 1,400 853 595 498 Music Director 12,150 12,128 11,656 11,539 Music Expense 2,200 1,114 595 385 Special Worship Events 500 511 750

Office & AdministrationAdministrative Assistant 13,290 13,338 12,936 11,906 Advertising 500 349 440 517 Automobile Allowance 8,350 7,190 8,350 8,350 Bank Charges 1,100 990 852 1,236 Furniture & Equipment 800 885 - Photocopier 3,000 2,422 1,911 1,237 Stationery & Supplies 4,000 2,830 3,883 2,717 Telephone & Internet 2,200 1,942 2,082 1,896

PropertyInsurance 5,108 5,488 4,290 3,929 Janitor 4,380 4,376 4,128 2,997 Repairs & Maintenance 9,310 7,252 3,523 1,926 Cleaning Supplies 960 1,416 904 839 Yard Maintenance 3,160 2,173 1,146 335 Utilities - Hydro/Gas 7,000 5,468 6,029 5,645 Utilities - Water Usage 1,600 1,597 1,553 1,587 Napier St. Mngmnt.Fees 1,345 1,338 1,003 - Napier St. Taxes/Maintc. 12,693 12,648 5,995 -

240,049 208,994 197,077 177,732

2015 Actuals Vs. Budget

YEAR 2015 P3

Parish of St. John the Apostle, Port Moody 2015 Financial Report

Monthly Comparison - Operating Income Receipts Vs. Operating Expenditures

JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC

Income Receipts 14,925 16,868 17,662 18,552 18,875 13,350 12,989 15,274 22,602 17,724 25,259 16,047

Expenditures 17,206 17,748 18,434 18,726 18,668 17,863 17,932 17,488 20,181 16,407 12,109 16,233

Surplus / Deficit (2,281) (881) (772) (174) 207 (4,512) (4,943) (2,215) 2,421 1,317 13,150 (186)

deficit deficit deficit deficit surplus deficit deficit deficit surplus surplus surplus deficit

Total 2015 Income Receipts

Total 2015 Expenditures

Final 2015 Year End Status

Surplus in 2015

Year End Status

Operating Income Receipts Vs. Operating Expenditures

210,126$

208,994$

1,132$

YEAR 2015 P4

Parish of St.John the Apostle, Port Moody

2015 Financial Report

Special Funds - Year End December 31, 2015

Balance Donations Note Disbursements Note Balance

FUNDS Dec-31-2014 YTD YTD

Rector's Discretionary Fund 640 236 404

Bequest -

Church School Mission/Child Spons. 610 471 558 523

Church School Camp Fund 1,182 1,182

Thursday Lunch 199 381 376 203

Food Bank 5,717 8,829 a 8,459 b 6,087

Compassionate 4,751 4,751

Seniors's Tea 118 118

Music Fund 1,386 99 1,287

Altar Guild Fund - 949 628 320

Memorial 400 2,415 750 2,065

B.M.E.F 1,634 93 100 1,627

Capital Improvement Fund 12,679 23,598 c 36,277

Contingency Fund 7,410 2,200 d 9,610 e -

36,726 38,935 20,816 54,845

Notes :

Food Bank

a Total Bread Donations 1,993$

b Total Quest Expenses 4,200$

Capital Improvement Fund

c Parishioner Roof Donations 3,212$

2014/2015 Thrifty's Funds Rec'd in 2015 2,105$

Other Donations 1,930$

Transferred from contigency fund 8,944$

Transferred from fundraising 7,407$

Contingency Fund

d ACW Donations 2,000$

Other Donations 200$

TDH Plumbing - sanitary main line Expenses (666)$

e Totally transferred to CIF fund (see above) 8,944$

Special Funds are set-up for ministries or specific projects that are normally not part of the usual Operating Income or Expenses of the Parish.

Funds can be created from specified donations, fundraising or a transfer from general income for future activities.

Therefore, Special Funds are tracked and reported on outside of Operating Income & Expense Statements.

YEAR 2015 P5


Capital Improvement Fund Detail

Capital Income

Fund Balance as of December 31, 2014 12,679$ Note

Roof Donations 3,212$

Other Donations 1,930$

Thrifty's Smile Cards (2014 program) - rec'd. in 2015 783$ (PMC access & Stage carpet)

Thrifty's Smile Cards 2015 program 1,322$ (PA System)

Transferred from fundrasing 7,407$

Transferred from Contigency Fund 8,944$

Fund Balance as of December 31, 2015 36,277$

Note Balance of December 31, 2014 included

1 Roof Donations 7,492$

2 Thrifty Foods Smile Cards (2012 bal.) 1,032$ (Stage/Handrails)

3 Thrifty Foods Smile Cards (2013 bal.) (176)$ (Tables/Chairs)

4 Thrifty Foods Smile Cards (2014) 453$ (PMC access & Stage carpet)

5 Balance @ December 2013 3,878$

YEAR 2015 P6


Bank Account Status as of December 31st, 2015

Bank Account Status as of December 31st, 2015:

Chequing Account Balance : 83,577$

Total of Special Funds (including Capital Fund) : (54,845)$

Actual Useable Cash : 28,732$

* Any outstanding cheques for 2015 are included as part of net value of

the Chequing Account Balance figure as shown above.

YEAR 2015 P7


Balance Sheet at December 31, 2015

ASSETS 2015 2014 2013

Current Assets

Chequing Account 83,577$ 140,461$ 35,114$

GST Receivable 964$ 686$ 1,934$

Prepaids 484$ 840$ 828$

Sub-total Current Assets: 85,025$ 141,987$ 37,876$

Long Term Assets

Consolidated Trust Funds 99,420$

Sub-total Long Term Assets: 99,420$

Fixed Assets

Land & Buildings 538,000$ 538,000$ 538,000$

Total Assets: 722,445$ 679,987$ 575,876$

Liabilities, Funds & Members' Equity

LIABILITIES 2015 2014 2013

Current Liabilities

Accounts Payable

Rector's Discretionary Fund 404$ 640$ -$

Accounts Payable 3,521$ 2,041$ 2,634$

Sub-total Current Liabilities: 3,924$ 2,680$ 2,634$

Long Term Liabilities

Net Unrealized Gain / Loss (580)$

Equity in Property 538,000$ 538,000$ 538,000$

Special Funds (Excluded Rector's Discre. Fund) 54,441$ 36,086$ 20,256$

Sub-total Long Term Liabilities: 591,862$ 574,086$ 558,256$

Total Liabilities: 595,786$ 576,767$ 560,890$

Retained Equity 126,659$ 103,220$ 14,986$

Total Liabilities Fund Balance: 722,445$ 679,987$ 575,876$

Details of Retained Equity @ December 31, 2015

Property Retained

Equity - 2015 Equity - 2015 Total 2014 2013

Balance @ December 31, 2014 538,000 103,220 641,220 552,986 556,766

(+) Surplus Receipts over Expenditures - 23,439 23,439 88,234 -

(-) Deficit Expenditures over Receipts - - - - (3,780)

Balance @ December 31, 2015 538,000 126,659 664,659 641,220 552,986

YEAR 2015 P8

YEAR 2015 P9


2015 Financial Report - Additional Information

1. Nature of Operations

� The Parish of St. John the Apostle, Port Moody is a member of the Anglican Church of Canada and is registered as a non-profit organization (Charity status).

2. Accounting Policies

� In general, these financial statements have been prepared in accordance with commonly accepted Canadian accounting principles for non-profit organizations, and hence, uses the accrual basis of accounting.

� Regarding current Fixed Assets for the St. John’s properties, when the land was purchased, it was capitalized and recorded at cost. The land and buildings that were transferred into the name of the Parish were also capitalized and recorded at their then (original) appraised value. All other fixed assets have been expensed when purchased.

3. Onward Transmission Funds

� Onward Transmission Funds are offerings collected by the parish that are meant for ministries or specific programs outside of the parish. These donations are passed directly on to the outside agencies that oversee the ministries or programs as per the giver’s request when donating. The designation “Other Purposes” includes the Altar Guild, Nepal Earthquake, Pat Ratcliffe gift & Other Onward to ACW (in memory of Dorothy Saunier & Roselyn Chong).

Offerings 2015 Giving 2014 Giving 2013 Giving

Care + Share $ 2,594 $ 1,333 $ 2,181

P.W.R.D.F. $ 7,101 $ 8,375 $ 7,226

Other Purposes $ 2,195 $ 1,112 $ 110

Total OT Giving: $ 11,890 $ 10,820 $ 9,517


2014 2015 2015 BudgetOperating Income Actual Actual Budget 2016

Offerings

Envelopes/PADs/Special/Property/Open 168,412 162,922 186,194 172,095 Open 3,102 2,898 3,000 3,000 Interest 115 -

Fundraising 6,404 - 6,000 - Church & Hall Usage Donations 13,375 14,085 13,140 13,600 Misc & Other 5,702 4,121 5,500 3,500 Napier ST. Property Rental 19,575 26,100 26,100 26,100

216,570 210,126 240,049 218,295 Operating Expenditures

Ministry, Mission & OutreachChristian Formation Resources 322 227 500 500 Hospitality Resources 441 723 1,000 1,000 Pastoral Care Resources 67 136 400 400 Church School Resources 251 165 400 400 Rector 85,304 77,995 88,475 62,700 Assistant Priest 6,600 Other Clergy Costs 2,869 3,613 2,900 3,400 Children & Young Families - 3,000 3,000

Diocese & National MinistriesParish Assessment 32,704 39,258 46,178 43,920 Synod Expenses 805 690 850 700 Other Diocesan Expenses 1,050 1,275 1,300 1,275

WorshipAltar Guild 595 853 1,400 1,900 Music Director 11,656 12,128 12,150 12,400 Music Expense 595 1,114 2,200 2,250 Special Worship Events 511 - 500 500

Office & AdministrationAdministrative Assistant 12,936 13,338 13,290 13,600 Advertising 440 349 500 500 Automobile Allowance 8,350 7,190 8,350 5,570 Bank Charges 852 990 1,100 750 Furniture & Equipment 885 - 800 800 Photocopier 1,911 2,422 3,000 3,000 Stationery & Supplies 3,883 2,830 4,000 4,000 Telephone & Internet 2,082 1,942 2,200 2,200

PropertyInsurance 4,290 5,488 5,108 5,900 Janitor 4,128 4,376 4,380 4,400 Repairs & Maintenance 3,523 7,252 9,310 9,000 Cleaning Supplies 904 1,416 960 950 Yard Maintenance 1,146 2,173 3,160 4,900 Utilities - Hydro/Gas 6,029 5,468 7,000 5,630 Utilities - Water Usage 1,553 1,597 1,600 1,670 Napier St. Mngmnt.Fees 1,003 1,338 1,345 1,345 Napier St. Taxes/Maintc. 5,995 12,648 12,693 13,135

197,077 208,994 240,049 218,295

2016 Proposed Budget

YEAR 2015 P10

st. john the apostle anglican church port moody, bc 2015

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