TUC AGM – 2019/20 Budget and Financial Report

TUC AGM – 2019/20 Budget and Financial Report

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TUC AGM - 2019/20 Budget and Financial Report

2018/2019 Financial Overview

  • TUC’s financial position continued to build upon the momentum established in the previous year, resulting in an Operating Surplus of about $26,000;
  • Offerings lifted by 13% over the prior year;
  • Property Income remained an important contributing factor at $118,000;
  • Our Roof Repair Loan now stands at $11,300 (down from $75,000 originally) and will be fully repaid by the end of 2019. TUC will then be debt-free;
  • The September Thanksgiving Offering raised over $20,000 and facilitated the air conditioning of the Chapel and Lounge, as well as contributing to a number of other worthy projects;
  • TUC’s commitment to Wider Work was maintained, with financial support extending to our missionary families, KCEA, Nimbong Church in North India, and contributions to the work of Presbytery and Synod.

Rob Day (Treasurer)