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