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July 16, 2018
Sisters and Brothers in Christ,
We write to let you know that your vestry has approved a 2018-2019 operating budget of just over $3,000,000. Passing a budget this year was particularly challenging, because, despite several years of increases, fewer people pledged last year, with the result that pledges for the 2018 calendar year were $390,000 below what we had budgeted. That means that our pledge income for the first half of the 2019 Fiscal Year (beginning July 1, 2018) is much lower than we require.
The vestry faced a difficult decision--after trimming everything that could be trimmed from program budgets, we still were looking at a significant deficit budget. We either had to cut staff or include in the budget a pledge amount for 2019 that is significantly higher than what was pledged in 2018. We chose the latter course, for a number of reasons. We are spelling these out for you in this letter because you have asked for and you deserve an accurate picture of our financial position and a clear understanding of the vestry's thinking--and because St. Columba's depends on your understanding and your response. This budget buys us a year of time to determine whether we can continue to operate at the current staffing level.
Some of the ingredients and implications of the vestry's decision:
- We know that as an expression of your faith in God many of you have given generously, even sacrificially, for the ministry of St. Columba's.
- We did not cut staff. Naturally, salaries and benefits are the single largest expenditure so this would be an obvious place to cut, but we believe each person and position is essential for our future mission.
- We've stripped program dollars to a minimum; these are the funds for supplies, activities, food, etc.
- We've kept our pledge to the Diocese at last year's level instead of increasing it by 1% of our operating income, as the Bishop requested and we hoped to do.
- While we do not imagine a new Director of Stewardship and Development will work miracles, we do imagine that she will help us take a significant step toward our goal of 100% participation.
- We take heart from the fact that while the overall number of households who pledged is lower this year, the average amount pledged is higher--a sign of your deep commitment.
- We believe that St. Columba's is setting forth on an exciting new chapter in discipleship that will help us grow deep in faith and reach beyond with new relationships.
- We know we can do this. With your generosity, we exceeded our $50,000 goal for the recent Outreach Ministry Appeal. Thank you!
If you are inspired to increase your current pledge or have not yet made a pledge for the balance of 2018, we welcome your generosity with gratitude. You may simply email Bronwyn Roy, our new stewardship director,
to indicate your intention.
Other Financial News ...
- We hear you ... the parish survey is complete and we are committed to providing more frequent financial reporting as you are requesting. (Survey results to be published in August.)
- The vestry is committed to completing audits of our financial statements for prior years. The Finance & Property Committee determined that because of problems with our legacy accounting systems (which have since been upgraded), we did not have sufficient internal resources to complete all the documentation that our auditor needs. Therefore we have contracted with Chazin & Company, Outsourced Accounting and Finance Solutions, to complete the prep work.
Please contact one of us or any member of the vestry if you have questions, concerns, or ideas; we'd like to hear from you.
Yours in faith,
Ledlie, Elizabeth and Steve
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