BISHOP’S CORNER

Financial Update

by Presiding Bishop W. Kevin Romer

Vol. 20, Number 1 Jan/Feb/Mar/Apr 2019 Issue NO. 77

As we have done in the past, in an effort to keep the saints apprised of the financial condition of the Remnant Church of Jesus Christ of Latter Day Saints, we are once again taking this opportunity to share with you the overall income trends for the church with our four largest income areas. This year it is even more relevant as we have gone to a two-year budget cycle, and our next general conference is not until April 2020.

Tithing

As you will note in the following chart, our tithing income for 2018 was up 13% over the prior year with a 48% increase from 2013. We are grateful for all the dedication that has brought about this result. The increase at year end 2018 over expenses was $53,212, leaving a year-end total cash reserve balance on hand of $89,126.

Oblation

Oblation was down in 2018 as compared to the prior year by 14%. Our expenses were $55,987, compared to an income of $50,926. We, fortunately, had the reserves to cover the expenses, leaving a total cash reserve balance on hand of $57,528.

Lunch Partners

Lunch Partners income was down 7% when compared to the prior year, with income totaling $38,030 versus expenses that totaled $54,075. This was driven by repair and maintenance costs of over $12,000. Our Lunch Partners total cash reserve balance on hand ended the year at $75,681.

Surplus

Our income in 2018 was $273,387, up substantially compared to the prior year. After expenses, our year-end total cash reserves were $85,896. The expense side was driven by several factors, including extensive repairs to the headquarters roof along with the church video, the church Visitors Center, and a new church recording studio.

Reserves

Our total cash reserves on hand from all sources ended the year at $359,226.

Remnant Church of Jesus Christ of Latter Day Saints
Income Analysis 2013–2018

                                               2013                          2014                          2015                          2016                           2017                          2018                         Total

Tithing                               292,921                      331,955                     364,723                     367,326                     384,082                      433,054                 2,174,061

Oblation                              71,162                        49,356                        50,092                      55,298                       59,436                         50,926                    336,270

Lunch Partners                  45,146                        62,013                        36,546                       44,393                       41,290                         38,030                    267,418

Surplus                                57,559                       66,563                        83,524                      559,503                       27,196                       273,387                 1,067,732

Total                                 $466,788                   $509,887                     $534,885                 $1,026,520                   $512,004                     $795,397               $3,845,481