Mid-Year 2018 Budget Update

Mid-Year 2018 Budget Update

All,

As we look ahead to the fall, I wanted to give all of you a quick narrative assessment of our finances through the end of the first half of 2018.

Overall, we are doing well. Member giving, the most important factor in our financial well-being, has been strong through the first half, only a few percent below 100% of budget. As giving typically upticks in the second half as we all strive to finish our pledges, this is a very good place to be now.

The second biggest determinant of our financial status is staffing, and here the story is mixed. We had a gap in the administrator position for most of the first half and so ‘saved’ money on salary. Woody did a wonderful job of filling in, but the savings from not having someone full-time aren’t the kind of savings we want to have as it means that we aren’t doing all the work we want to be doing. We are now fully staffed and anticipate finishing the year slightly under-budget for staffing.

The third biggest piece of our financial puzzle is the wildcard. What broke? How cold did it get? How hot did it get? Through June 30th, the news here was that we were a bit over-budget for our property expenses, due to various repairs. July saw several additional HVAC repairs, so this piece of the puzzle is likely to be a bit bigger than we anticipated when all is said and done.

For those of you keeping score, that is giving is to the good, staffing is a little to the good, and property is to the bad. Overall we are OK, but a spare prayer here and there for the HVAC systems would be welcome.

If anyone has any questions or concerns, or would like a more quantitative report, please let me know.

Yours in Christ,

Jonathan V
Treasurer