Finance Report for November 2010

The November Finance Committee meeting was held on 11/9 at 6:30 pm in the Church Lounge. 2010 budget results through October were reviewed:


General Fund giving
2010-$305k
2009-$292.1k

Capital Fund giving
2010-$25.7k
2009-$36.8k

General fund spending
$297.6

General Fund balance
2010-$17.6k
2009-$-1.2k

Despite the $1.8k increase in combined GF and CF giving, we have been able to fully fund our Apportionments while increasing our GF balance by nearly $19k. There are two major reasons, a $20k reduction in utility costs vs. budget and receipt of an unanticipated $10k contribution from a family which recently moved from Grand Island. This has allowed us to anticipate an end-of-year budget surplus.
The Fall Festival generated $4.2k, $3.3k of which is allocated to the General Fund. The Fall Festival planning committee will be asked to designate a recipient for the remaining $1k.

The 2010 Christmas Offering will be treated similarly. $5.1k will be added to the General Fund as planned, with the remainder going to Missions.

Commitment Campaign results through 11/9 were reviewed. 50 pledges were received, totaling $159.4k. All pledges received were from 2010 pledgiers, permitting the following analysis:


No.of pledges
2010 - 50
2011 - 50

General Fund
2010 - $149.2k
2011 - $150.2k

Capital Fund
2010 - $8.2k
2011 - $9.2k

Total
2010 - $157.4k
2011 - $159.4k(a 1.2% increase

93 pledges from 2010 pledgers remain.

The Church Charge Conference is planned for 12/1. If 75 – 80% of anticipate pledges are received before then, a 2011 budget will be presented. If not, only the Pastor’s compensation packages will be given. The Associate Pastor will be presented as a 25% time position, with the intention of increasing this to 50% as soon as giving will permit.

The results of the Church Visioning Core Values Audit were presented.

Chris Hipp – Chair, Finance Committee