by Peter Marmaras, Finance Co-Chair
In October, the finance team discussed how we are doing church-wide as questions come forward regularly. We have come through the challenges of Covid in a good financial position.
What do we mean: Giving income (current envelopes and electronic giving) has modestly exceeded the costs of salaries and operations through 9/30/21. Monthly giving has averaged slightly more than $33,000. That is one baseline measure of our financial health.
SPR and Pastor Candy confer regularly on our staffing needs and they would like to add a position. We are working on the 2022 budget now.
Our building needs some capital investment and repairs. This is beyond the scope of an annual operating budget. The annual budget allows for minor upkeep and minimal improvements only.
Major repairs and improvements are a capital expense requiring supplemental capital giving.
We have some cash reserves as we were granted funds under PPP1 and PPP2. Our collective gratitude and generosity sustained church operations without our needing all of the granted funds- so this is a positive.
We have a mortgage liability on the building of $388,000 currently.
We need to grow into the position of funding 100% of our apportionment which is Wesley’s tithe to the UMC.
Goals include Growing our ministries which require financial resources, Growing our staffing, Caring for and up-keeping our church building, Retiring the mortgage.
Thank you for your interest and your continuing generosity.