Finance Committee report to the January 20th, 2014 Church Council.
In 2013, General Fund giving was $340k and expenses $343K, leaving a positive balance of $7.5k in the General Fund to start the new year.
Apportionment payments were $13.4k in December and $22k for 2013.
Although we underfunded apportionments by $29.7k, this result was much more positive than anticipated, thanks to a successful Trinity Fair ($5k), the Christmas Offering ($5.8k) and $2.6k given for apportionments.
The $340k in General Fund giving was at the high end of that forecast by our prediction software.
Faced with these results, the SPRC has recommended significant personnel reductions which, combined with careful control of non-personnel costs, yield a $344,776.50 2014 budget. After significant discussion, the Finance Committee voted to recommend this budget to the Church Council. Included in the proposed personnel costs are additional full-year reductions forecast for 2015. This puts us on the path toward financial responsibility.
Respectfully submitted,
Chris Hipp, chair Finance Committee
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