United Church of God

International News at a Glance: UCG Australia Enjoys Positive Financial Position

You are here

International News at a Glance

UCG Australia Enjoys Positive Financial Position

The treasurer's report showed that UCG–Australia was on a solid financial footing as they entered the last quarter of the 2005-2006 fiscal year. Income was up, expenses were down and cash balances were at healthy levels.

Net income stood at a surplus of $50,085 (all figures, Australian dollars) compared to a budgeted deficit of $114,197. Actual total income for the first nine months of the year was $799,365 compared to budgeted income of $702,804, producing a positive variance of $96,561.

Actual expenses were $749,278 compared to budgeted expenses of $817,001, producing another positive variance of $67,723. However, the expense variance was to be reduced as the Media Department implemented its promotional plans for the last quarter of the financial year.