Another successful budget/finance session has been accomplished. Our 2018 budget was finalized by Finance Committee and approved at Church Council.
Here are the highlights:
Budget increased by only $1,006. 2017 budget was $153,848.00 and budget for 2018 will be $154,854.00.
Our Church Apportionments went down by $495.00 from $16,546.00 to $16,051.00. We want to continue to fund these 100%.
Fixed Expenses category increased slightly as we built in some additional ministerial support and allowances mandated by the district. Trustees Committee stayed the same. Church Council Committee had a decrease due to our website up and running now under our own administration as well as a reduced internet/phone plan. Worship Committee increased slightly to focus on Acolyte program. Education Committee budget decreased as we are asked to use our United Methodist Resource Center for much of our Training and Sunday School materials.
Mission/Outreach Committee increased a little, while Fellowship Committee had a small decrease.
A full report of the budget is available for anyone. Please see myself, or John O’Neill for a copy.
On another important note, a recommendation was made and approved to take funds from our small money market savings account and pay off our remaining balance on our mortgage in March of 2018. This is the date when our current loan is coming due as a balloon note. Voting was 8 to 1 to pay it off and not renew the loan. This will put us debt free from our mortgage that we have been paying on for 14+ years. Of course, the flip side is that our savings account will be depleted and will need to be replenished. As part of the recommendation, money from our rental income of the parsonage will be deposited back into the savings account monthly. More details on this payoff will come in early 2018. I have been so proud of our 2017 accomplishments and all the hard work of all Committee Chairpersons and my Finance Committee members. Appreciate you so much!
We of course, still have work to do as our tithes and contributions are still behind what we need to fully meet our budget. When this happens, we have to postpone certain projects, limit what we can spend to benefit the church, the community and our programs. Please continue to be in prayer about your ongoing support of God’s church.
Thanks! Delane – Finance Chair