Treasurer’s Report

We are emerging cautiously from a global pandemic and activity on the Cathedral campus is slowly resuming.  I am grateful for our wonderful staff and volunteers who found new ways to connect and lead the community this past year and to the congregation who continued to faithfully support the Cathedral’s ministries. 

A summary of the Cathedral’s finances for the quarter ended March 31, 2021 appears below.  Results this quarter were especially encouraging.  Operating income through March 31, 2021 of $433,659 was higher than plan by $83,992.  Although we experienced a loss of plate giving since no in-person worship services could be held in the Cathedral during the quarter, pledge and other offerings more than offset the loss.  A number of parishioners prepaid pledges for the year.  In addition, an annual grant to the Cathedral through the San Diego Foundation was larger than expected.

Operating expenses through March 31, 2021 of $322,313 were $17,353 below budget due the campus closure and cancellation of activities.  As a result, net operating income through March 31, 2021 was $111,344 compared to $10,001 planned, an excellent result given these challenging times.

I am so thankful for this community and for your continued financial support of ministry at St Paul’s Cathedral!  Stay safe!

St Paul’s Cathedral Operating Fund – Quarter Ended March 31, 2021

                                                 Actual 2021    Budget 2021  Difference      

Operating Income

  Pledge & Other Giving                $347,149          $264,600           $82,549       

  Other Income                                 86,510             85,067              1,443                        

Total Operating Income                 433,659           349,667              83,992         

Less: Operating Expenses             322,313           339,666             -17,353                  

Net Operating Income                 $111,346           $10,001           $101,345      

Betsey Monsell

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