Lumen Christi | Annual General Report 2020

18 A Lumen Christi Catholic parishes Wollongong Finance Reports – Fairy Meadow Parish & Balgownie Church Key Points – Management Review • The net Parish surplus for the year was $50,007 • There was a positive Parish Cash Flow for the year of $47,678. However, if the job keeper payments of $21,330 were to be deducted, the net positive cash flow would be $26,348 • All bank statements have been reconciled as at 31st December 2020 and cash holdings are correctly reflected in the Accounts • Property valuations have decreased by $737,000 for the year • The Liability of $40 was paid in January 2021 • Parish Income for the year was $258,162 which was greater than 2019 by $13,044 • Parish Expenditure for the year was $208,155 which was less than 2019 by $87,247 • The cash counting sheets for January, July, August, and September were checked and have been carried out in accordance with the Diocesan Financial and Accounting Standards • Finance Meeting Minutes for 27/2/20, 6/4/20, 28/4/20, 26/5/20, 30/6/20, 11/8/20, 27/10/20 and 2/12/20 have been audited and all recommendations have been complied with Expenses 2020 Income 2020