Financial

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The Budget


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Annual Budget Pastor Paul's Mission 2007-2008 Budget Comparison
Budget Item	2007 Budget	Increase (Decrease)	2008 Budget

Salaries	192,551		192,551
Payroll Taxes	11,767		11,767
Housing Allowance	21,600		21,600
Employee Insurance and 401K Expense	29,103		29,103
Professional Services	23,400		23,400
Waste Removal	10,222		10,222
Food Storage	8,421		8,421
Program Supplies	2,500		2,500
Utilities	35,000	12,207	47,207
Office Expense	15,778		15,778
Telephone	6,236		6,236
Insurance	27,364		27,364
Building Maintenance	9,340		9,340
Vehicle Expense	7,000	3,010	10,010
Depreciation	40,261	(15,217)	25,044
Fundraising	3,120		3,120
Real Estate Taxes	918		918
Small Equipment	2,060		2,060
Bldg Interest Expense	4,950		4,950

Total Budget	$451,591		$451,591

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Financial Statement


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Pastor Paul's Mission
Balance Sheet for
September 30, 2008

ASSETS

Current Assets
Building Account	68,118
Food Account	20,875
Northeast State Bank	78,146

Total Current Assets	167,139

Land and Building Property
Mission Building	163,355
1019 Newton Building	90,073
Mission Building Improvements.	191,882
Other Bldg Improvements	5,289
Parsonage Bldg Imp	35,764
Land	26,366
Land Improvements	5,089
Accumulated Depreciation	(630,275)
Total Land and Property	(112,457)

Equipment and Other Assets
Building Account Receivable	9,030
Money Market Account	1,538
Donated Food Inventory	18,358
Vehicles	125,751
Equipment	105,850
Computer Equipment	41,896
Total Equipment and Other Assets	302,423

Total Assets	$ 357,105

LIABILITIES AND CAPITAL

Current Liabilities
Accrued FICA W/H	1,935
Accrued Federal W/H	1,932
Accrued State W/H	1,484
Accrued Employee 401K	866
Accounts Payable	3,082
SUTA Payable	21
Building Account Payable	9,030
Northeast Bank Loan Payable	5,403

Total Current Liabilities	23,753

Long-Term Liabilities
NE State Bank Mortgage	50,350
Total Long-Term Liabilities	50,350

Total Liabilities	74,104

Capital
Fund Balance Beg of Year	281,928
Net Income	1,073
Total Capital	283,002

Total Liabilities & Capital	$ 357,105

Pastor Paul's Mission
Income Statement For
September 30, 2008


	Current Month	Year to Date
Revenues
Online Donations	0	100
MN State Grant	26,092	57,776
Minnesota FoodShare	0	6,335
Hunger Solutions	0	6462.
Hennepin County	19,133	152,913
Private Contributions	10	2,726
Business Contributions	0	112
Pledge Contributions	1,017	8,518
Other Revenue	0	129
Interest Revenue	175	676
Foundation Grants	0	1,232
Social Service Agencies	0	60
Bag Donations	23	695
Handling Fees	10,094	80,891
Club Members	479	5,257
Gift Certificates	0	12
Cookbooks	0	15,799
Donated Food	205,105	2,034,526
Total Revenues	$262,128	$ 2,374,219

Expenses
Food Expenses
Food Storage	0	1,456
Food Purchases	611	14,402
Donated Foods Expensed	205,105	2,034,527
Program Supplies
Program supplies	0	754
Utility Expense
Water and Sewer	257	2,932
Electricity	904	8,119
Heating	176	10,495
1019 Newton Utilities	0	1,140
1014 Oliver Utilities	87	1,997
Waste Removal Expense
Waste Removal	748	7,155
Yard Supplies/Maintenance	0	171
Snow Removal	0	963
Building Maintenance Expense
Building- Equip Supplies	271	1,218
Building Repair	0	809
Equipment Repair	0	627
Pest Control	77	682
Bldg Security	0	480
1019 Newton Equipment	0	245
Bldg Professional Services	0	1,428
Vehicle Expense
Gas & Oil	548	5,266
Vehicle Main Repair	0	2,376
Parking Fees- Licenses	60	724
Salaries Expense
Salaries	18,408	147,856
Housing Allowance	1,800	16,200
Health Insurance	1,247	9,033
Employer 401K	535	4,276
Life Insurance	0	19,967
FICA Expense	1,107	8,898
SUTA Expense	9	521
Office Expense
Office Supplies	0	717
Computer Software/Supplies	0	490
Printing	0	6,712
Postage	0	418
Office Equipment Repair	0	175
Computer Service Maintenance	0	1,283
Licenses-Taxes- Fees	72	658
Fundraising Expenses
Awards-Volunteers	150	600
Artwork	0	100
Conferences	0	3,802
Travel Expense	0	1,694
Taping Supplies	0	178
Membership dues	35	1,351
Meeting Meals	110	412
Publications and Periodicals	0	290
Telephone Expense
Telephone Services	449	3,735
Professional Service Expense
Internet Services	349	3,159
Insurance Expense
Liability Insurance	0	2,042
Building Insurance	0	7,644
Auto Insurance	0	3,792
Workman's Comp	0	68
Depreciation Expense
Estimated Depreciation	2,713	23,299
Special Assessments
Special Assessments	0	448
Small Equipment
Small Building Equipment	168	610
Small Office Equipment	0	410
Interest Expense
Money Market Expense	210	454
NE Bank Note-Freezer	31	403
NE Mortgage Interest	303	2,574
Insurance Claim Expense		910
Total Expenses	$ 236,538	$ 2,373,145

Net Income	$ 25,590	$ 1,074

Pastor Paul's Mission Revenue

Revenue Source	Description

Minnesota FoodShare	Restricted food purchase revenue received from Minnesota FoodShare, a program of the Minneapolis Council of Churches, statewide food drive in March. Pastor Paul's Mission participates in the food drive. Revenues are based on service statistics and food drive totals.

Hunger Solutions	Emergency grants received every two years from this state grant administrator.

Minnesota State Grant	State of Minnesota Food Shelf grant based on state legislation. Distribution is biennially to food shelves statewide based on service statistics. Hunger Solutions administers the grant.

Hennepin County	Hennepin County annual contract based on purchased food distribution service.

Private Contributions	Contributions made by individuals sporadically throughout the year.

Business Contributions	Contributions made by small businesses.

Pledge Contributions	Contributions made by individuals monthly a total of 12 per year. Pledge is voluntary.

Other Revenue	Miscellaneous revenues such as reimbursements or returns.

Special Events	Revenues received from special events.

Interest Revenue	Earned interest revenue from investments.

Foundation Grants	Grants received from foundations solicited by proposal submissions.

Social Service Agencies	Contributions received from various schools, non-profits and social service agencies.

Churches	Church and religious organization donations.

Club Members	Pastor Paul's Mission Club Members membership dues and merchandise sales.

Cookbooks	Revenues received from Pastor Paul Mission Cookbook sales.

Donated Food	Food donated to Pastor Paul's Mission valued at $1.69 a pound.

Donated Warehouse	Warehouse space donated valued by donor.

Bag Donations	Donations received from clients to purchase paper & plastic bags.

Handling Fees	Money received for expenses such as trucking, warehousing, and distribution.

Online Donations	Donations made online.

Online Store	Money received from e-commerce store purchases.

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