By the Numbers
Revenue & Expense Statement
General Reserve Fund: $55,475
Deferred Maintenance Fund: $52,802
Rev/Exp YTD: + 6,474. (3Q last year, +$35,238).
On the income side pledge income is again lower than the previous year. Rental income is trending lower at this point as well, though campus use remains high.
On the expense side expenses are basically on or under budget in most areas. Staff transitions result in slightly higher personnel expenses. A grant from the Foundation will cover the expenses for the 50th Anniversary events during the year.
Third quarter this year was slow. However, church income and expenses are very seasonal by nature. One slow quarter is often followed by a strong quarter. We are hopeful for a strong fourth quarter like last year. The challenge comes when the income influx comes in the last month of the fiscal year. We have seen this in the past. While there can be fluctuations over a budget year, there is a possibility of a projected deficit ($5-10K). It is hard to forecast precisely, so we will monitor the next few months closely. There can be an uptick in expenses for the 4Q as ministry teams finish out the program year. ERUUF could finish on budget if end of year giving picks up like last year. We will again send out pledge completion letter and encourages folks to finish their pledges for the year.
Stewardship & Budget: The stewardship campaign is wrapping up, even though there are still about 100 pledges pending. Reminders calls/letters/emails are on the way. This is business as usual. We are working on early draft budgets and estimating pledge income totals.
The draft budget will be available for review by the Board April 19, and by the congregation on May 1. Feedback and revisions will shape the final budget which goes to the Board on May 17.
The final budget then goes to congregational vote at the annual meeting on June 5.
Note: Finance Forum, Sunday May 1, 10:30 am, Commons Room
(document by Daniel Trollinger, Director of Administration)