SEPTEMBER 2022 BUDGET UPDATE
Back in January, we as a parish adopted a deficit budget with projected income about $14,000 less than our projected expenses. We believed it was important to move forward in faith, and committed to being extra watchful with our budget this year. Here’s an update on how things stand as of the end of August.
INCOME
On the Income side, we are very close to budget, thanks especially to generous pledge payments that are overcoming deficits in plate offerings and building use. We continue to rebuild the habit of Sunday offerings, and will soon be ready to invite more building users to use the Parish Center when we are not.
EXPENSE
We currently have small budget overages in a number of areas, such as worship, kitchen and fellowship, office expenses, and maintenance. The largest overages are in snow removal, which was expensive early in the year, and utilities, mostly due to high electric bills. (We hope to have some relevant news to share soon!) We designated $1000 in our 2022 budget for ongoing Covid expenses; that line is currently $600 over budget, as we’ve used it to cover things like providing masks for worship, and tests for the youth trips. Some apparent over- or under-spent lines (like Outreach and Diocesan Giving) simply reflect when payments or expenditures are made, and will even out.
OTHER FINANCIAL UPDATES
- A diocesan grant for $2000, in addition to the Future Formation funds in our 2022 budget, will help cover the salary for our new Middle School Youth Minister.
- A construction company is renting parking space from us during the week through June of 2023.
- Thanks to members’ sponsorships and a generous gift from the Outreach Committee, we were able to cover all the expenses of this year’s two youth group summer trips.
OVERALL
Expenses are about $3600 below income right now, but giving is strong and ministries are thriving. We hope to manage expenses through the end of the year and build towards a strong 2023.
All numbers have been rounded to the nearest $100 for ease in reading. As a result some totals may differ from detailed financial statements.
INCOME |
2022 Budget |
Actual through August |
Budget through August |
Feast & Plate | 14,000 | 5000 | 8000 |
Pledge Payments | 260,000 | 190,600 | 187,300 |
Rent & Bldg Use | 17,000 | 9300 | 11,300 |
Misc Income | 7200 | 5300 | 5900 |
Total | 298200 | 210200 | 212500 |
EXPENSE |
2022 Budget |
Actual through August |
Budget through August |
Clergy (incl. salary, pension, insurance) | 136,700 | 92,600 | 94,700 |
Lay Staff | 23,800 | 12,400 | 13,000 |
Worship | 3600 | 3300 | 2300 |
Outreach Budget | 19,200 | 11,300 | 13,500 |
Formation | 7300 | 3500 | 4800 |
Other Ministries | 2200 | 1200 | 900 |
Bldgs & Grounds | 54,500 | 39,400 | 31,900 |
Admin & Office | 13,700 | 11,800 | 9000 |
Diocesan Giving | 51,300 | 38,300 | 34,000 |
TOTAL | 312300 | 213800 | 204100 |