Update on 2018 Budget & Congregational Meeting December 10.

Why Come to a Budget Meeting? The budget of Union Church is the very core of our ministry. It’s often not thrilling, but it is a theological document that tells you where our values are and how we’ve decided to act those out.  As the gospel of Matthew reminds us, “Where your treasure is, there will your heart be also.” Please attend this meeting to help decide where our hearts will be for 2018.

Church Finances: Update on the 2018 budget:  We have some better news to report.  Our income projections are somewhat higher in that we have received several new and increased pledges and we expect a somewhat higher carryover from 2017 than last year.  Expenses have been trimmed where we could, and some larger projects put on a “Wish List” for which we will seek alternative sources of funding such as grants, special appeals and fundraising activities.

With these changes, the gap between projected income and expenses is about $18,000.  Any new and increased pledges and year-end gifts towards the 2018 budget received this month will be incorporated into the budget and presented to the congregation for approval on December 10th.  If you haven’t already, and are in a position to increase your pledge, now would be a great time to do it.  Feel free to contact any Finance Board or Church Council member if you have questions about our plans and projects for next year.

  YTD 10/31/2017       2017 Budget       2018 Budget
Total Revenue $367,438.98  $ 432,869.00  $ 422,600.00 
Total Staff SS/Medicare & Workers Comp Ins   $ 304,400.42  $ 312,086.00 
 Total 6100 ADMINISTRATION EXPENSES $  19,743.41  $ 23,180.00  $ 24,200.00 
 Total 6200 FINANCE EXPENSES $  10,936.88  $ 15,000.00  $ 15,020.00 
 Total 6300 PROPERTY EXPENSES $  32,856.20  $ 40,800.00  $ 41,500.00 
 Total 6400 FAITH DEV. EXPENSES $  2,476.54  $ 7,700.00  $ 4,300.00 
 Total 6500 COMMUNITY LIFE & GROWTH EXP $  3,226.30  $  5,500.00  $ 5,500.00 
  Total 6600 WORSHIP EXPENSES $  8,197.25  $ 9,850.00  $  10,650.00 
  Total 6700 MISSION & OUTREACH EXPENSES $  24,933.89  $  26,166.32  $ 25,430.00 
 Total 6800 NURTURE & CARE EXPENSES $ 3.59  $ 450.00  $ 2,100.00 
Total Expenditures $359,579.48  $  433,046.74  $ 440,786.00 
  Net Operating Revenue $    7,859.50    ($18,186.00)
       
 Inc/Dec of 2018 budget compared to 2017 budget     $  7,739.26 
 Percentage inc/dec to 2017 budget     1.79%

Below are the adjustments Church Council made to the budget presented to them on November 20th to bring our budgeted deficit from about $54,000 to $18,000. You will note that the reductions below are not enough to make up the difference. This is because several members of Church Council offered increased pledges at the meeting; and new pledges have come in since our meeting.

  • Cost of living adjustment for staff was set at 2.5% and reduced to 2.1% a savings of $983
  • A payment of $2400 on the principal on our loan was suggested, this has been removed saving $2400
  • A fee of $9000 to pay for a consultant was suggested by Finance Board and staff; this has been removed saving $9000
  • Transfers to Mission & Outreach have been set at 8% of our giving and it is suggested to lower this to 7%. This savings will change as pledges change, but as of November 20th the savings was $3500.
  • Properties Board requested an additional $1000 for Maintenance/Capital Projects. This has been removed for a savings of $1000.
  • Faith Development had requested $4000 for youth ministry expenses and based on current year expenses it was suggested to lower it by $2500.

These are a total of $19,383 reductions in the budget. The Council spoke of putting these on a wish list.

Categories Consider | Tags: | Posted on November 29, 2017

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