1. Greenlane Christian Fellowship Trust
Financial Presentation 2013

2. Income
2013
2012
Tithes and offerings
$1,321,255
$1,324,079
Missions offerings
$48,889
$41,904
Rental income
$88,349
$106,965
Sundry income
$1,908
$1,673
Kimberley Trust Donation
$121,700
$ 318,343
Total Income
$1,582,101
$1,792,964

3. Expenditure
2013
2012
Advertising
$1,146
$910
Audit expense
$7,000
Depreciation
$7,320
$1,567
Donations
$8,599
$7,870
Equipment purch. and R&M
$44,444
$33,862
Interest paid
$18,323
$43,700
Office expenses
$108,479
$85,998
Property costs
$28,415
$39,788
Staff costs
$800,086
$1,129,469
Travel
$1,138
$1,041
Missions costs
$183,445
$321,551
Net sundry ministry expenses
$216,402
$262,666
Total Expenditure
$1,424,797
$1,935,422
Surplus (deficit) from activities
$157,304
($142,457)
Gain on Sale – 36 Marewa Rd -
$74,000
Net Surplus/(Deficit) For Year
($68,457)

4. Statement of movement in equity 2013 2012 Equity at start of year
For year ended 31st Dec 2013
2013
2012
Equity at start of year
$8,578,605
$6,742,007
Net surplus/(deficit) for year
$157,304
($142,457)
Total
$8,735,909
$6,599,550
Reval. Reserve Land & Buildings
Capital Reserve – Realised Gain -
$1,905,055
$74,000
Equity at end of year

5. GCFT Financial Position 31 December 2013
Assets
2013
2012
Current assets
Bank and cash
$63,821
$151,541
Sundry debtors
$9,926
$8,169
Prepayments
$247 -
Kimberly Housing Trust
$27,973
$ 27,973
GST refund due
$11,045
$17,114
Total Current Assets
$113,011
$204,797
Non current assets
$8,925,323
$8,904,395
Total Assets
$9,038,334
$9,109,192

6. Liabilities
2013
2012
Current Liabilities
Sundry Creditors incl. PAYE
$160,313
$258,819
Kimberley Trust
$12,089
$18,342
Current Portion
Westpac Mortgage -
$9,468
Total
$172,402
$286,629
Term Liabilities
$13,934
Westpac Revolve. Credit
$130,023
$230,023
Total Term Liabilities
$243,957
Total Liabilities
$302,425
$530,586
Net Worth
$8,735,909
$8,578,606
Accumulated Funds
Equity
Total Accum. Funds