Normandale Hylands United Methodist Church

Bloomington, Minnesota

remembering the past; celebrating the future

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HOW TO INTERPRET YOUR STATEMENT

There seems to be some confusion as how to read the statements.

The two parts that are in disagreement are the FUND SUMMARY and the PLEDGE SUMMARY.

FUND SUMMARY

This is YTD of the current calendar year (January 1 to December 31).

This the reportable amount for your tax return.

Tax code is that you can only claim amount given in the calendar year.

PLEDGE SUMMARY

This is a summary as to where you stand in regards to your pledge.

This can be some what confusing in that for the Budget it depends on how you made your pledge. If you made a pledge on a weekly basis, then the pledge amount is updated by the amount you pledged every Monday.  If your pledge was on a monthly basis, the amount is up dated on the 1^st of every month. On a 1 time basis, it will show the amount for the entire year.

In the summary box below the fund name in italic, it will show the current term and the frequency.

For the capital fund, this is a 3-year fund and the summary will show the amount pledged from the beginning of the fund term to the present or to the date of the printing of the statement. Again, the same rules apply as to the budget with the exception of those that made a pledge payable over the 3-year term.

If you make a contribution that does not have a designated acct #, it will show on the statement as Miscellaneous. It is not possible to set up an acct # for every possible circumstance. Be assured that in the base accounting system the appropriate account will be credited.  This is done through a recap sheet each Sunday.