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Finance Update for Quarter 1 2024

For January 1 – March 31, the Operating Income and Expenses compared to the budget for that period:

(*Does not include offerings for 3/24 and 3/31, whcih were deposited 4/1)
Actual: Budget: Difference:
Income: $109,809* $105,000 $4,809
Expenses: $108,696 $105,000 $3,696

Through the first quarter of 2024, Duncan Memorial’s operating income is $4,809 above budget and operating expenses are $3,696 above budget, resulting in a surplus of $1,113.

In addition to the church’s support of the operating budget, through March 31 generous contributions designated for reduction of principle of the Church’s Atlantic Union Bank loan have exceeded $11,000. Among other church improvements, the Atlantic Union loan financed the installation of solar panels. In 2023, DUncan Memorial received $6,705 from the sale of unused electricity back to Dominion Energy.

Full financial reports are available by contacting church treasurer, Betty Perkinson.

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