Budget Summary, Third Quarter 2023
On the income side, we are running a little behind on pledge income, but we find we usually catch up towards the end of the year; in addition, some new members and others are giving very regularly and generously. Plate, special occasion and pledged giving, taken together, are almost exactly on budget.
The biggest challenge on the income side is that rental income from the Rectory has been lower than anticipated, due to a pause between tenants for some needed repairs. New tenants are moving in and we will start to receive rental income again soon.
We are not yet generating much building use income from the Parish Center. If you know of a group or event that might like to use one of our spaces, please put them in touch!
Overall, thanks to a special gift, as well as people’s generosity with plate and pledge giving, we are only about $3000 behind budget on the income side.
Lay Staff expenses are below budget due to the vacancy in the music staff role over the summer. Outreach will give away their full budget before the end of the year, as usual.
Our Buildings and Grounds expenses are high due to high utility bills, and snow plowing expenses from last winter/spring. However, our electric bill for September was $53! While we expect bills to go up again as we turn on the heat (which is largely gas-powered), we are still excited to see the impact of our new solar panels in this way.
Other areas of the budget are pretty close to budget, overall – some a little low, some a little high. Overall, we’re about $7000 over budget on the Expense side at this point in the year, due mostly to utility and snow removal expenses.
Our budget for 2023 was a deficit budget to begin with. Given our current income and expenses, income is about $17,500 behind expenses right now. We hope we can improve on that in the remaining months of the year, through managing our expenses wherever possible and through the the continued generosity of members and friends.
What does this mean for St. Dunstan’s? We are not in immediate financial danger. We don’t have any debt, and we do have some funds and assets that help cushion us in a year like this. However, as we explain in our fall Giving Campaign materials, we’re not in a position to cover deficit budgets indefinitely.
There are lots of signs of vitality and hope in our congregation. Your parish leaders are trying to discern wisely about how we feel called to grow and serve, without making too many decisions on the basis of money. On the other hand, we know there is some big-picture work to do on moving towards greater financial sustainability for our parish. Please pray with us for wisdom, hope, and possibility.
If you’re interested in joining the Finance Committee, to be part of financial planning and decision-making at St. Dunstan’s, talk with Rev. Miranda or our Treasurer Val McAuliffe.