2019 Year End Financial Status

Photo by Josh Appel on Unsplash
Last month, I posted an entry discussing some of the organizational statistics of our church (attendance and donations), and I wanted to take this opportunity to give you an update on at least the financial side of things over the past month.
First of all, as I said last Sunday, Thank You! Even though the months of August through October were really low in terms of financial donations, the month of November was much, much better. So many of you stepped up to the plate and made extra contributions that November’s total donations came out to $19,048.75! That’s still $2,451 below our budget need, but it is so much better than how the previous months had been, and I’m really encouraged.
Now, since the numbers have been lower this year than expected, I wanted to do two things in this quick post: First, I want to tell you how we spend money when our income is below expectations, and secondly, I want to tell you where we are now as we try to close out this fiscal year.

How We Spend Money When Income is Low

Every year, we set up a budget based on our expected income which is usually based on last year’s income plus a moderate increase (like 10%). Then, we take that expected income and allocate it to a bunch of different “funds” just like the “envelope” method of home financial management. However, our spending is based on actual income (not expected income), so if money doesn’t come in for a specific category, we don’t spend it. Practically speaking, that means each month, we allocate money based on our church priorities in the following order:

  1. Fixed Commitments (10% Tithe, Mortgage, Utilities, Salaries)
  2. Urgent expenses (facility repairs, maintenance)
  3. Ministry supplies
  4. Future, non-urgent needs
  5. Benevolence

Where Do Things Stand Now

Over the past few months, we have met our fixed commitments and have been able to meet the urgent repair expenses, but we have been able to put next to nothing aside for the last three categories. Most notable in those are the following:

  • We have not been able to set aside any money for the purchase of next year’s Kidopolis Curriculum, an expense we usually incur in December of each year (roughly $1200).
  • We have not been able to set aside the full amount of money for the year-end annual payment of one of our debts related to the former Filly’s building (we have saved up $1800 of the $6000 payment).
  • We have not been able to set aside any money for the payment of our real estate tax on the former Filly’s building ($21,000) Even though we are still appealing these taxes with the state, we need to pay it off first and hope that a refund comes later.
  • Additionally, our normal high priority December costs will be roughly $15,114.

Our December income so far has been $8,154, and that’s an incredible start, but that means we have a total year end need of $26,862.
I know that probably sounds like a lot of money to you. It certainly sounds like a lot of money to me too. However, I know that God is able to provide for us as a church, and he is able to provide for all of us individually.
Would you join me in prayerfully asking God to provide all that we need to finish this year well?
I’m so glad to be on this journey with you.