St Paul's Episcopal Church, DeKalb, IL 60115

January 2015 Mars Hill Treasurer's Report 

with December 2014 figures: 

This report covers the month of December 2014.  The American Midwest Bank checking account is our primary operating account. Accounting is done by the American Midwest Bank Tax and Payroll Department. This account includes funds transferred from the Building Fund at Edward Jones to facilitate paying capital project bills. Our Building Fund major funds and the Endowment Fund are managed by Edward Jones.

Receipts through December 31, 2014

We have received 99% of the pledged amount and 103% of the total budgeted receipts by the end of the twelve month period. Operating receipts through December total $221,666. Several parishioners paid up their 2014 pledge amounts in early 2015.

Disbursements through December 31, 2014

Total operating disbursements for the twelve month period were $219,162.  The difference of receipts over disbursements for the year was $2,505. We received 103% of budgeted receipts and spent 102% of budgeted disbursements after twelve months of the year. That means we ended the year with a positive balance.

Building Fund

The balance in the Edward Jones Building Fund at the end of December was $44,158 - $30,000 in CD's and $14,158 in the Money Market Fund.  The total balance of Building funds including $6,096 in the American Midwest Bank account is $50,254.  During the year we've received contributions of $920 in the regular building fund and $550 in memorial contributions for Norma Fitzgerald. Other special contributions were $5,900.

Expenditures from the building fund were $38,225. These included tree care, rectory security system, landscaping, the rectory roof, the new sign, and rectory window and garage repairs. There is a balance from a recently matured CD in the Money Market which will provide funds for the driveway sealing slated for Spring, and more signage around the property.

Endowment Fund

The value of the Endowment Fund at the end of December was $2,041,693. The net decrease in value for the year as of December 31, 2014 was ($22,949.)  We have taken allocations of $92,000 from the Endowment for Operating expenses. This is 4.45% of the average ending monthly balance for the past year. We experienced a decrease in value in December but were able to take advantage of gains in the summer when we took funds.

Apache Stock - The 5.898 shares on deposit with the company were valued at $370 on December 31, 2014. Dividends of $5.57 were received for 2014.

On December 31, 2014 the balance in the AMB checking was $17,363.82. The Flower Fund balance was $360.90; Discretionary Fund was $333.26; Columbarium Fund was $1,464.30.  The Garden Fund has a -0- balance since the proceeds were sent to the DCCG.  Building fund portion was $6,095.81 and Operations balance was $9,109.55.  Please see Annual Report for additional 2014 financial details.

Respectfully submitted