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Hope Lutheran Church First Quarter Financial Highlights 2023
Contributions to the General Fund exceeded expenses by $74,000 for the first three months of 2023, and were 103% of budget.This is slightly less than the $100,000 excess in the first quarter of 2022.
Donations to the Debt Service Fund fell short of budget by $13,000, but were more than adequate to make monthly payments. The mortgage loan was paid down to $1,729,355 as of March 31.
Capital contributions to the South Site Fund were $258,911 for the quarter, bringing the balance in the South Site Fund to $617,491.
The costs for construction of the Hope Lake Weir Campus Pavillion currently exceed the contributions by $25,452 with only the electrical work yet to be paid. The Council has authorized the use of capital campaign funds to pay for any shortfall left after payment of the final invoices.
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