Church Ends Its Financial Year in the Black!

Church Ends Its Financial Year in the Black!

Our Treasurer, Adam Sherr, reported in the Community Life time at the beginning of worship on Sunday, January 2, 2011, that the church finished the ’10 fiscal year in the black. That is our second year in a row of no financial shortfall, after ten years of operating from deficit budgets. The accomplishment is even greater considering that the Administration Standing Leadership Group had warned the congregation that as of October 31, we were facing a possible $23,000 year-end deficit.

The Admin. SLG made wise cutbacks in expenses the church had hoped the 2010 budget could cover, primarily previously delayed building expenses. Michael and Mindy worked on gathering in outstanding funds the church had been left waiting for. Members and friends were encouraged to catch up pledges that might be lagging. People were also asked to make special, additional year-end gifts between Thanksgiving and Christmas. $9,100 was received in special gifts. The rest of the deficit was erased by pledges coming in on target, tight expense control and successful “gifts receivable” collection.

Such a success gives Old First a blessed opportunity to say thank you to all its supporters:
~people who were able to make special gifts,
~members and friends who were able to complete their full pledges, and
~each week’s faithful, consistent givers

…for without all these contributions, we could not have made our budget. Without this financial support, alongside other gifts of time and talent, our ministry would be impossible.

While the Admin. SLG is developing a fiscally conservative 2011 budgeting process to present to the Annal Meeting on January 23, 2011– so we will not face another shortfall in 2011 and need to ask again for additional financial help at the end of the year– church leadership recognizes that our community, mission and ministry are all growing, and such expansion requires additional income.

And, thanks be to God, our cooperative efforts are paying off– literally, giving us an opportunity not only to end 2010 in a strong financial position, add a second year to our no-deficit operations, but also to thank God and God’s people again for their abundant generosity.