Budgeted Income and Expense through February 28, 2019
Income Expense
Pledges & Gifts $51,490 Staff $46,348
Investments $ 1,643 Properties $ 9,113
Miscellaneous $ 1,369 Missions $ 3,603
Programs $ 9,847
$54,502 $68,912
Our income so far this year lags behind expenses for a few reasons. One is that, with more giving through automatic online avenues, we receive fewer gifts pre-paid and early in the year. Also, some annual expenses are paid in January and won’t be paid again till next January
Union Church Endowment – UPDATE!
We have set up our account with InFaith Community Foundation, and the Endowment Committee is reviewing the options of the initial investment into the church’s endowment. We have also started working on our policy and procedures and will be planning a meeting to work just on this topic in the next few months.
InFaith requires the first deposit to be $25,000, but gifts of any amount can be directed to the fund at any time, through the church or InFaith.
The endowment committee has learned of two gifts from our members totaling $15,000. We encourage donations from others at this time so we can make the initial investment. Please contact any one of the Finance Board members.
Church Finance Board – Co-Chairs Shirley Carlberg and Charles Hoffman, Marty Hensley, Sharona Nelson, Greg Lakes, treasurer; Patti Smithson, financial secretary, Dave Kobersmith staff assisting the board. If you have any topics you would like to have addressed in these monthly articles, please let anyone of us know.
Summary of Church Finance Board and Treasurer reports from the Annual Meeting, March 10, 2019 – Please read the whole reports found in the book of reports. Here is a list of topics addressed in those two reports:
- Budget revisited with Rev. Rachel’s departure
- InFaith and Thrivent financial
- Internal review set up
- Conintued work on the Finance Policies
- Kentucky sales tax implications
- Investing organ fund into higher interest accounts
- 2018 surplus of $11,947.06
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