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Financial Report

The most recent Financial update and statement

Financial Summary

November 24, 2022

Dear Cornerstone Family,


Thank you for your financial support to Cornerstone. 


We’re now 6 months into our fiscal year (May 1, 2022, to April 30, 2023). Income -

Our total Regular Offerings for October are $36,337.26 which is $11,512.74 under budget for the period.

The deficit can be attributed to Sunday Offerings as PAD and transfers have remained constant.

Overall, Sunday Offerings have been consistent this year however, in 3/5 of the previous month's large one-time cash donations ranging from $2,000 - $10,000 were collected bringing the monthly income closer to budget. As this did not happen in October, the variance is greater than in the previous months.

In comparison to this period in 2021, we have about $9,600 less in Regular Offerings for the YTD. However, there was a very large donation in September 2021 that was close to this deficit. Apart from that, we are on pace with this period last year.

Expenses –

Total Expenses of $46,548.26 were $395.14 over budget.

The Gatehouse power bill was paid 1 week early at the end of October instead of the first week of November. Otherwise, Building Expenses were under budget for the month.

Overall, General and Office Expenses were in line with the budget for the month.

General Funds –

The year-to-date balance in General Funds of $20,687.97 is $14,375.77 less than the $35,063.74 budgeted due to the decrease in weekly offerings.


If you have any questions about the financial report, please let Glenda know.


To view the detailed statement, use the button below.




Glenda Lush

Administrator, Cornerstone Wesleyan Church