Preliminary figures on the financial year that closed Dec. 31 promise we have again finished in the black. It looks as if we have roughly a $1,500.00 surplus for the calendar year 2012.
(The final report will not be available until the Annual Meeting on Jan. 27, so these figures could change slightly.)
The single greatest strength towards this success (besides careful control of our expenses!) is the generosity with which participants in this faith community have supported the ministry that Old First does! Thank you, good and gracious, Stewards!
Giving from people in our participating community, from pledges and envelopes, was slightly more than $220,100. We exceeded what we had budgeted for pledges, hitting 104%, and what we had budgeted for envelopes, attaining 139% of what we budgeted. (“Envelopes” nets more support for our ministries when new people coming into the community also begin to make offerings.)
Our Special Offerings were also received at a higher rate than we had budgeted (154%), and most of that came from a substantially larger Christmas offering than we had expected.
An additional almost $10,000 was received from people in this community in the form of Angel Gifts either for restricted purposes or as undefined, additional gifts.
The church’s investments all performed well, with interest from all coming in higher than we had budgeted.
Our “use of buildings” income line was one of the few places our income fell below the amount budgeted, but only by about $3,000.
Income for the Homeless Shelter continues to be an issue as the sources from which we have traditionally received money seem to be drying up. For instance, sister congregations who in the past funded our work, either find themselves without funds to make benevolence contributions or needing to give it to efforts for the homeless closer to home.
At the beginning of December, we were running about $6,000. behind budget in this line. However, seven Old First families and the Bethesda Project made special gifts at the end of the year and not only closed our budget gap, but also left us with an overage of funds, about $2,500.00, to use for the shelter in 2013.
We have also set up a relationship with the Bethesda Project so that people whose employers will match charitable gifts may contribute to our shelter work.
The money we budgeted as income from Grant Income also fell short, only coming in at 85%. This is another area of the budget that we are going to have to focus our attention on– how can we gain support from beyond this community for the work we are doing?
But, totaled, our income for 2012 came in at $349,473, or 103% of what our budget had projected.
Our expenses came in a bit over budget as well, at 102%.
Primarily, our unbudgeted expense was for major maintenance and repair of the building, for instance $22,500 ($14,377.96 from the operating budget) spent for the roof on the east side of the Sanctuary building and the Bathrooms in the Christian Education Building.
We also spent $7,900.00 (which took HVAC repairs to $4,456.81 over budget) when we installed a new HVAC system for the first floor in the Fox Building.
While old buildings used greatly are expensive, it’s good that we have finally come up with some money from the budget to tackle long-deferred maintenance needs.
With our increased giving, we also are paying more in “Mission Partnerships” than we had budged:
~$24,392.10 (106.%) has been given to support ministries in the United Church of Christ through Our Churches Wider Mission, finally breaking the $24K goal we set for ourselves some years ago, but had been unable to meet.
~ $2,719.50 given to support POWER, our 2012 and 2011 dues (since payment for the latter was made in January 2012).
The rest of our expenses came in less than 100% of the amounts budgeted, some of them appreciably.
Leadership is working on the 2013 budget to be presented at the Annual Meeting on January 27. There are a number of big ticket expenses that we believe including in the budget are part of our building our ministry and our church for greater service.
But, not surprisingly, we still don’t have unlimited income with which to work!
If you haven’t yet made a pledge for 2013, please speak with Gerry Woodruffe or Mindy in the office.
And pray for our continued growing efforts to serve Gods in more, new and different ways…