During the first week of August 2017, Melanie Ringa, Treasurer of the Orthodox Church in America, released the financial report for the first quarter of the year. The complete report is available in PDF format.
Highlights of the report include the following.
- The balance sheet as of June 30, 2017 indicates an operating surplus of $75,813 and total surplus of $280,901. Diocesan Support for the 6 months is $18,000, greater than expected.
- Total assets are $3,082,640.00 and total liabilities are $215,127.00.
- Net assets are $2,867,513.00, representing an increase/surplus of $40,801.00 year-to-date.
- Total revenues were over budget by $7,350.00, while expenses for the quarter were on budget with a variance of $52.00.
- Expenses are in line in most areas, and overall are under budget by $47,000, due mainly to the vacancy at St Catherine’s, and also lower Property Support maintenance (including grounds).