The Diocese of the West, The Orthodox Church in America
Office of the Treasurer
1520 Green St
San Francisco, CA 94123-5102
Web Site for links to prior month Monthly Reports:
http://dowoca.org/reports_financial.html
(360) 774-2778 Cell
treasurer@dowoca.org
April 2015 Financial Report Summary
Prepared by
Mary L. Caetta
Diocesan Treasurer
10 May 2015
I.
Executive Summary
The diocesan QuickBooks data file is now accessible over the internet by those authorized by the
Diocesan Council to provide assistance to the Treasurer. Access is independent of the person’s
local hardware or the availability of a particular version of QuickBooks on that person’s
computer. Accounts Receivable (recording payments and donations) will be the first financial
process that can be executed in QuickBooks by someone other than the Diocesan Treasurer.
Lynnell Brunswig and Theodora Blom will begin training for that role in July 2015.
Stewardship income for so far this year is $14,288, 36% of what was budgeted for the year.
Parishes are beginning to send in donations for the Gobezie Goshu Home, this year’s Lenten
Charity.
The following are summaries of accrual basis reports.
II.
Statement of Financial Position (Consolidated Balance Sheet)
This balance sheet reflects both unrestricted and restricted fund accounts. Savings and
investment account names on the detailed report indicate the current interest rate on funds in
those accounts. The following summarizes the beginning and ending balances for April.
Account
Checking & Savings
Accounts Receivable
Investments & Other Current Assets
Fixed Assets
LGS Holding, LLC Investment
720 Duboce House Investment
Liabilities
Net Income
Beginning
$ 752,228
$ 38,888
$ 585,595
$ 2,745
$ 300,000
$ 45,967
$ (317)
$ 14,060
Ending
$ 764,996
$ 37,746
$ 588,706
$ 2,745
$ 300,000
$ 45,967
$ (1,600)
$ 24,430
Interest in the LGS Holding is divided between the Diocese of the West and the Russian
Women’s’ Home of Mercy on a 40/60 split. Expenses are also split 40/60 DOW/RWHOM.
See Sections V and VI for a summary of restricted fund assets.
Page 1 of 3
April 2015 Financial Report
III.
Receivables and Loans Status
Loan to:
Monastery of St John of Shanghai (2012)
Joy of All Who Sorrow Mission (2010)
2015 Stewardship Pledges Outstanding
Original
Amount
$ 70,000
$ 17,000
$
3,575
Current
Balance
$ 35,000
$ 2,232
$ 3,740
Parish assessment receivables as of the end of April total ($ 3,429). The table in Section VIII
shows parishes which have open assessment invoices that are more than 30 days past due.
IV.
Unrestricted Funds P&L Year-to-Date, Actual versus Budget
Net unrestricted income through the end of April was $20,109. Income and expenses shown on
the attached unrestricted P&L report include those through May 10.
The percent of budget for each category should be between 33% and 42%. Unrestricted income
was 42% of budget and expenses were 35% of budget.
Special Events (Consecration) is 402% of budget. Facilities and Equipment are 64% of budget
because liability insurance was paid in February. Seminarian Financial Aid is 57% of budget.
No other major operating expense categories were more than 10% over budget.
V.
Point Reyes Funds Extracted Balance Sheet & P&L
In July, 2008, the Diocese received $1,270,000 from the sale of the property in Point Reyes,
California. Of that amount, $ 300,000 was given toward the construction of the St Barbara
Monastery Chapel. The following are the beginning and ending balances for April:
Account
Checking & Savings
Investment Holdings Balance (Infinity Financial)
Loans Outstanding
LGS Holdings, LLC Investment
Duboce St House Investment
Total Assets
Beginning
$ 37,125
$ 497,210
$ 38,683
$ 300,000
$ 45,967
$ 918,915
Ending
$ 38,578
$ 500,914
$ 37,232
$ 300,000
$ 45,967
$ 922,691
Infinity Financial funds are invested in short term bond funds and a government cash trust
account. The balance of the restricted cash is in a Wells Fargo savings account. Unrealized
investment gains total 2,186.
Current year-to-date fund Income/Expenses:
Account
Investment/Savings Income
Expenses
Net Income
2015 YTD
$ 1,871
$
57
$ 1,814
Page 2 of 3
April 2015 Financial Report
VI.
Mission Restricted Funds Extracted Balance Sheet and P&L
Account
LCBA Savings (4.5%)
CDs
Wells Fargo Savings
Total Assets
Beginning
$ 79,489
$ 66,373
$ 28,893
$ 174,756
Ending
$ 79,787
$ 66,429
$ 28,895
$ 175,110
Current year-to-date Income/Expenses:
2015 YTD
Account
Investment/Savings Interest/St Andrew Dist.
Expenses
Net Income
VII.
$
$
$
1,382
318
1,064
Parish Assessment Receivables
The following parishes had open invoices that were 30 days or more past due as of April 30th.
All assessments are due on the 15th of each month.
Monthly
Assessments
› 90
Tarzana, CA
Sacramento, CA
▲
Assembly
Assessment
$2,100.80
$1.00
$2,101.80
Total
$2,100.80
$1.00
$0.00
$2,101.80
 indicates an increase over previous month
 indicates a decrease over previous month
 indicates same as previous month
*
Parishes which have outstanding invoices more than 90 days past due
Page 3 of 3
The Diocese of the West
12:40 AM
Consolidated Balance Sheet
05/10/2015
As of April 30, 2015
Accrual Basis
Apr 30, 15
ASSETS
Current Assets
Total Checking/Savings
Total Accounts Receivable
Other Current Assets
Saints of America' Inventory
Infinity Financial
LCBA Missions Savings 4.5% - R
Paypal
Undeposited Funds
Total Other Current Assets
Total Current Assets
Fixed Assets
Office Furniture and Equipment
Total Fixed Assets
Other Assets
720 Duboce House Investment
LGS Holding, LLC Investment
Total Other Assets
TOTAL ASSETS
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Total Accounts Payable
Total Credit Cards
Total Other Current Liabilities
Total Current Liabilities
Total Liabilities
Equity
Opening Bal Equity
Retained Operating Earnings
Unreal. Investment Gains/Losses
Net Income
Total Equity
TOTAL LIABILITIES & EQUITY
764,996.04
37,745.51
748,121.96
44,929.14
505.24
500,913.61
79,786.57
0.00
7,500.50
588,705.92
509.50
493,326.12
78,630.94
5,377.80
1,618.30
579,462.66
1,391,447.47
1,372,513.76
2,745.28
2,255.92
2,745.28
2,255.92
45,966.92
300,000.00
345,966.92
1,740,159.67
45,966.92
300,000.00
345,966.92
1,720,736.60
1,134.14
8,573.43
-8,107.83
1,599.74
1,236.37
8,781.36
1,514.48
11,532.21
1,599.74
11,532.21
313,536.26
1,399,030.01
1,563.93
24,429.73
1,738,559.93
1,740,159.67
313,536.26
1,493,714.88
-3,361.88
-94,684.87
1,709,204.39
1,720,736.60
Apr 31, 2015
Contributions to Net Income Through Apr 30
24,429.73
Unrestricted Funds
20,109.17
Point Reyes Fund
1,814.17
Missions Restricted Funds
1,063.84
Scholarship Fund
0.00
Other Restricted Funds (PT/Direct Charities)
1,442.55
Page 1 of 1
Dec 31, 14
Dec 31, 2014
-94,684.87
64,190.45
-139,004.13
-21,181.55
3,243.50
-1,933.14
Report 1
The Diocese of the West
12:40 AM
Consolidated Balance Sheet
05/10/2015
As of April 30, 2015
Accrual Basis
Apr 30, 15
ASSETS
Current Assets
Total Checking/Savings
Total Accounts Receivable
Other Current Assets
Saints of America' Inventory
Infinity Financial
LCBA Missions Savings 4.5% - R
Paypal
Undeposited Funds
Total Other Current Assets
Total Current Assets
Fixed Assets
Office Furniture and Equipment
Total Fixed Assets
Other Assets
720 Duboce House Investment
LGS Holding, LLC Investment
Total Other Assets
TOTAL ASSETS
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Total Accounts Payable
Total Credit Cards
Total Other Current Liabilities
Total Current Liabilities
Total Liabilities
Equity
Opening Bal Equity
Retained Operating Earnings
Unreal. Investment Gains/Losses
Net Income
Total Equity
TOTAL LIABILITIES & EQUITY
764,996.04
37,745.51
748,121.96
44,929.14
505.24
500,913.61
79,786.57
0.00
7,500.50
588,705.92
509.50
493,326.12
78,630.94
5,377.80
1,618.30
579,462.66
1,391,447.47
1,372,513.76
2,745.28
2,255.92
2,745.28
2,255.92
45,966.92
300,000.00
345,966.92
1,740,159.67
45,966.92
300,000.00
345,966.92
1,720,736.60
1,134.14
8,573.43
-8,107.83
1,599.74
1,236.37
8,781.36
1,514.48
11,532.21
1,599.74
11,532.21
313,536.26
1,399,030.01
1,563.93
24,429.73
1,738,559.93
1,740,159.67
313,536.26
1,493,714.88
-3,361.88
-94,684.87
1,709,204.39
1,720,736.60
Apr 31, 2015
Contributions to Net Income Through Apr 30
24,429.73
Unrestricted Funds
20,109.17
Point Reyes Fund
1,814.17
Missions Restricted Funds
1,063.84
Scholarship Fund
0.00
Other Restricted Funds (PT/Direct Charities)
1,442.55
Page 1 of 1
Dec 31, 14
Dec 31, 2014
-94,684.87
64,190.45
-139,004.13
-21,181.55
3,243.50
-1,933.14
Report 1