Through May General Fund giving is $133.2k vs. $150.7k in
2012 and expenses $143.0k vs. $146.6k last year. The GF balance is $0.3k. Giving will be analyzed after June month-end
to see where we stand at mid-year.
Giving has been running about 10% below 2012 for several weeks.
The Finance Committee recommends the following asset capital
purchase policy to the Church Council: any asset with a value of $250 or more
and a life expectancy of a year or more be considered a capital purchase. This was approved at our May meeting.
A letter to those who made a private pledge commitment will
be sent out this week and the unopened pledge cards made available after the
next several church services.
The issue of better investing the available cash in the
Trinity checking account, the money market account and perhaps the Frontier
Foundation endowment account was discussed.
A cash flow analysis will be pursued as a first step to see how much can
be invested.
In view of the likely shortfall in giving vs. expenses at
year-end and the consequent shortfall in apportionments funding, Pastor Baird
has asked the Finance Committee to draw up a list of options for reducing
spending in the 2014 budget so that apportionments can be fully paid. Since more than 70% of church spending is
tied to personnel expenses the choice of which reductions to be pursued will
ultimately emerge from the Staff Parish Relations committee. The FC will begin this process at our July
meeting.
Additional Counters and Posters are needed in the 2nd
half of this year and 2014.
Respectfully submitted
Chris Hipp – Chair Finance Committe
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