Financial Summary

Income in May was $43,868 which was below the budget by ($19,157).  For the first 5 months, income is now below budget by ($53,299).  We believe that this shortfall in offerings is due to timing of gifts received and that we will catch up in the coming months; hopefully soon.  Expenses in May of $64,613 were higher than the budget by ($5,049) but for the year we are still under budget by $16,660.   We have a deficit for the first five months of ($61,419) compared to the budgeted deficit of ($24,780).  The mortgage balance, after the May payment of $2,270 (principal $656 and interest $1,614), is $348,399.