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To: Anglican Parish of SSI Parishioners
From: Finance Committee
Subject: Quarterly Update - Parish Financial Results to the end of March 2021

Income – January 1, 2021 to March 31, 2021      - $39,570.98
Expenses –  “                                  “                                  - $61,833.88
In Year Deficit –                                                                 -($22,262.90)

If you participated in the Annual Vestry Meeting on February 21st, you would know that we ended 2020 in deficit and that we projected a deficit for 2021 of approximately $24,000.  We indicated that if that deficit is not eliminated or is not substantially reduced during 2021, we would need to make substantial changes for 2022 because we will have exhausted our prior year surpluses in funding two years of deficits.  We committed to providing parishioners with quarterly updates.

Notes: 

1.       We have not yet received Federal wage subsidy grants for this year.  That would reduce the in-year deficit by some $4,000.

2.       We are usually experience an in-year deficit early in the year.

3.       March givings improved substantially over January and February. We hope that represents a trend that if sustained may allow us to reduce the projected deficit.

4.       Please continue to prayerfully review your contributions to the parish.  As a return to somewhat normal operations seems to now be well into the second half of this year, our stewardship is critical.

5.       There are three easy ways to contribute to the Parish.

o   The Electronic Collection Plate – Forms available on request from Dale

o   Canada Helps – https://www.canadahelps.org/en/charities/parish-of-salt-spring-island/   (By credit card)

o   Either mail a cheque or place a cheque in the mailbox to the left of the lower entrance to the church nearest the office.

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