Financial Update for the End of August 2023

As an end of the summer checkup and looking toward development of the 2024 budget, we have mixed financial news. Our year-to-date operating income is running at a deficit of approximately $16,000, which is about $1,500 short of what was budgeted. The main reason we are not experiencing a more substantial deficit is because ongoing staff vacancies have kept costs down somewhat.

While St. Mark’s has been blessed in the past to see income increase from end the year giving, we may close out the year slightly below budget this year. With the start of the narthex project, we have begun drawing down funds in accounts that have been generating some additional income that we had been putting toward the operating budget. In addition, the economy may be impacting member’s giving.

The good news is, we still have a couple of months to make up the difference and end the year in the black. If you’ve been postponing any donations, the Finance Committee urges you to take action!

Thank you so much for your generous giving!

Bonnie Gauch

Chair, Finance Committee