An Update from the Finance Committee

May 30, 2024

Dear Fellow Church Members,

We are pleased to report that the Church is off to a more stable and healthy financial performance in 2024. Through the first four months of the year, we have seen revenues slightly exceed the budget, while expenses have remained mostly at or below budget.

While our net income remains a slight deficit, we are currently $18,000 better than our year-to-date budget and $50,000 better than this time a year ago. This is a testament to the hard work and dedication of our staff and congregation.

We remain blessed, despite the many challenges that we have faced, including:

·        Insurance costs that are 3-times higher from the three opened claims in 2023

·        Multiple staff vacancies

·        Continued inflationary cost pressures hitting the building and operations

·        An aging building, with many facilities needs

The staff and ministry chairs are working diligently to address these issues and ensure the continued financial stability of our church. For instance, I am pleased to inform you all three of our insurance claims from last year are settled and closed. While we cannot realize 2024 cost reductions, we will immediately begin working with our brokerage firm and carrier markets to identify lower-cost alternatives for next year.

For the balance of the year, we will continue to focus on operational efficiencies, transparency to the congregation, and preparation for a financial audit.

We are grateful for your ongoing financial support and ask that you continue to support our church with your gifts and offerings. When considering incremental ways to support the church, we ask that you please give directly to the church operations instead of to a designated account. This gives us the best flexibility as we work to address our financial challenges, exceed our operating budget, and end the year in the black.

Members of the Finance Committee will be available during our June 2 Congregational meeting and at the June 18 Administrative Board meeting to answer any questions you may have.

Sincerely,

The Finance Committee

Chip Zint (Chair)

Warren Calvert, Brittany Dunlap, John Harlan, Larry Pope, and Jan Rowell