Old First Financial / Budget Update

Old First Financial / Budget Update

Trimesters aren’t often used in financial reporting, but the end of our second trimester, 31-AUG-2019, corresponds with our traditional fall restart, so here is our second trimester financial report.

Through the first 8 months of the year, we are $41K in the red. Remember that because of foreseen and needed HVAC repairs, we planned and agreed as a congregation at January’s Annual Meeting that we would be $15K in the red at this time of the year. The mathematically inclined among you will recognize that $41K is a bigger number than $15K. The difference of ~$26K is our member giving. Member giving has not declined year of year. Rather, we have received almost the exact same amount. However, at the end of last year when we all made our pledges, our individual promises to ourselves, to each other, to the church, and to God, added up to a collective promise to give more this year. Specifically, we pledged that this year our giving would go up by $16K relative to last year.  (Normal drop-offs in giving over the summer are the difference between $26K and two-thirds of $16K.)

What can we do about this? Well before I speak of any speck of dust in someone else’s eye, let me own up to the log in my own. Over summer, the giving report sent out by Adam S, our Financial Secretary, pointed out that I, due to some varied attendance in the spring and less than perfect memory, had not quite kept up with my giving as I thought I had.

So what can I do about this? I am going to catch up on my pledge, this month.

So what can you do about this?

  1. You can catch up on your pledge, be it this month, or this year.
  2. If you are on track with your pledge you can look to see if there might be a way to give a bit more. Exceeding your pledge is a way to lend a helping hand to someone else who might be struggling with his or her pledge, with only God and Adam S having to know about it.
  3. If you are new to our church, welcome. When I first starting coming to church, the desire to put my giving in the plate was part of what motivated me out the door on Sundays. Maybe giving can be a similar spiritual discipline for you.

As to the practicalities of giving, anything is better than nothing, but know that when you give online via Breeze there is a 2.5% haircut on your gift. If giving via Breeze is the only practical way for you to give, then we still welcome it and thank you for it. If you could also make the gift the following Sunday by dropping a check in the plate, that is also welcome, mainly for helping bring you to church, but also because Old First then gets the full 100% of your gift.

Finally, I would like to share a few details about the finances to highlight the overall prudent management of the Admin SLG and Kristyn, our Administrator:

  1. We are well ahead of budget for both Market Value Donations and Service Camps. As these are the 2 income streams that are ‘worked’ by the staff, this is good news.
  2. Our expenses are overall in line with budget. Some lines are over, but others are behind.
  3. We are spending more money on anticipatory maintenance. We got the windows in the Sanctuary cleaned! We have a maintenance contract for the HVAC.

Lastly, if anyone would like more details, please come find me after church.

 

Yours in Christ,

Jonathan V

OFRC Treasurer