Finance Committee Report to 1/23/2012 Church Council
Trinity finished 2011 with about $10k in the General Fund (as has been recent practice) and having paid $40.7k toward our $52.6k Apportionments commitment. The Capital Fund finished with a $33.4k balance.
Going forward into 2012 we have the following:
2012 pledges from 123 giving units (including 21 new pledges) for $265.9k to the GF (similar to 2011) and $26.6k to the CF. We also have 19 giving units which pledged in 2011, but have yet to do so in 2012. In 2011 they pledged $46.9k. Non-pledged 2011 income was $40.3k.
While there is uncertainty in the level of support the congregation will provide to Trinity, we do have a mechanism which will enable us to estimate year-end giving based on weekly giving patterns. The 2011 estimate became quite accurate as we approached year-end and was predictive by the end of June.
We also have an initial budget created by assembling requests. It is $388k, which is too high. The Finance Committee recommends that we target a $360k budget and carefully monitor giving patterns with the expectation of making a mid-year correction if necessary. A number of potential reductions have been identified, including a $1k reduction in Postage & Postage Meter and at least a $5k reduction in natural gas expenses.. Work remains to identify additional spending reductions.
Chris Hipp – Chair Finance Committee
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