Presented November 14, 2017. YTD October 31, 2017.

1. Excluding Capital Campaign finances, the Church generated an operating net loss of ($7,242.97) on revenues of $268,228.76 during the 10 months ending 10/31/17. Please note, the YTD net loss includes a non-cash depreciation expense of $9,477.50. Excluding depreciation, the Church generated a net profit of $2,234.53.
2. As of 10/31/17, the Church had an operating cash balance of $88,038.20 (both the PNC and HNB checking accounts) compared to currently liabilities of $70,697.11 which includes accounts payable of $9,754.86 and accrued interest payable of $1,051.61.
3. Current operating cash on hand is sufficient to cover the Church’s operating expenses for ~101 days, without any additions.
4. The Huntington Bank loan had a balance of $711,555.15. The last draw on the loan was made in November, and it will begin amortizing over 20 years beginning mid-December.
5. Based on the Church’s YTD performance, cash flow (profit before depreciation and interest) was sufficient to cover interest expense 1.15x.
6. Roy has been doing a fantastic job handling accounts payable, which has allowed me to get caught up on bank reconciliations and adjusting entries. I even had a little time for analysis this month. That being said, you can expect this report to show up one week prior to the meeting beginning next month.

Respectfully Submitted,

Regina Yankie, Treasurer