March 2015 Mars Hill Treasurer's Report

with February 2015 figures:         

This report covers the month of January 2015.  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 January 31, 2015

We have received 35% of the pledged amount and 17% of the total budgeted receipts by the end of the one month period. Operating receipts through January total $39,012. Several parishioners paid up their 2014 pledge balance in early 2015, and one family paid their entire pledge for 2015.

Disbursements through January 31, 2015

Total operating disbursements for the one month period were $19,396 which is 9% of the budgeted amount.  The difference of receipts over disbursements for the month was $19,616 ending the month with positive net receipts.

Building Fund

The balance in the Edward Jones Building Fund at the end of January was $44,158 - $30,000 in CD's and $14,158 in the Money Market Fund.  The total balance of Building funds including $6,581 in the American Midwest Bank account is $50,739.  During the month we received contributions of $485 in the regular building fund. There were no disbursements from the Building fund in January.

There is a balance from a recently matured CD in the Money Market which will provide funds for the driveway sealing slated for Spring 2015, and for more signage around the property. There is also a $10,000 CD maturing in March 2015. The Vestry voted to roll this over since the proceeds are not needed immediately for Capital projects.

Endowment Fund

The value of the Endowment Fund at the end of January was $2,034,926. The decrease in value for the year as of January 31, 2015 was ($6,082.) Net decrease was ($6,764.)  We have not taken any allocations from the Endowment Fund yet this year.

Apache Stock - The 5.898 shares on deposit with the company were valued at $369 on January 31, 2015. The value was approximately the same as at the end of 2014.

On January 31, 2015 the balance in the AMB checking was $37,492.15. The Flower Fund balance was $84.25; Discretionary Fund was $637.26; Columbarium Fund was $1,464.30.  The Garden Fund has a -0- balance.  Building fund portion was $6,580.81 and Operations balance was $28,725.53