Dear Church

2016 – 2017 financial year has been a year of faith and trusting in the Lord. It has also been a year of highlights

Summary of our Income:

  • 90% of our income comes from donations of which 94% comes from tithes and the rest are from different fund raising initiatives
  • The remaining 10% of our income come from different sources such as rental of our facilities, functions and so on

Summary of our expenses:

  • 37% of our expenses are spent on our worship services (which include venue hire, staff costs and other related costs)
  • 28% of our expenses are spent on facilities and office (maintenance, operational costs, utilities, staff costs and other related costs)
  • 13% of our expenses are spent on missions through our giving to Hope International Ministry, Hope Ministry Australia and our own mission initiatives

Highlights of 2016-2017:

  • As at July 2016, we had a AUD $1.6 million loan that we took to build Unidus Community Centre. We paid off AUD $1 million during the financial year and got an extension till the end of 2017 to pay off the remaining $600,000
  • Tithes and offering increased by 15% overall
  • Expenses decreased by 2%
  • Unidus Hire Income increased by 250%

We are humbled to see God coming through and witness the faithfulness of many ones in the church. We have and will continue to set aside our profits for the maintenance of Unidus Community Centre, for future church planting, community and mission initiatives

Some possible changes to 2017-2018 financial year:

  • We will undertake a depreciation exercise of Unidus Community Centre which will reflect the true value of Unidus Community Centre from an accounting point. This will be reflected with a huge increase of our depreciation expenses.
  • We will also revalue the land where we have constructed Unidus Community Centre which will reflect the true value of the land from an accounting point

Walking with you
Ps Joshua Chee
Treasurer

*If anyone wishes to take a look at our full financial statement, you can drop by our church office and peruse them

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