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2026 Budget Preparation
We continue to make steady progress. Thanks to your Second Mile Giving generosity, we are on-track for balanced 2025 income and expenses, and as described in our July update (click here for July update), we have stabilized our cash balance. You now also have timely access to monthly Income & Expense statements as part of our meeting Minutes posted on the Asbury First website (click here for August Minutes).
Work to develop the 2026 General and COC Budgets began several months ago. This update includes information about budget goals, timeline, progress to date, and what we will need.
Budget Goals
2026 budget preparation is a collaborative effort between the Finance Committee, Director of Finance (John Ormsbee), pastoral and lay staff leadership, work area staff, the Staff Parish Relations Committee (SPRC), Property Stewardship Committee (PSC), and Outreach Committee. Together, we are committed to these shared goals:
- To present solid, balanced budgets that support the vital ministries and missions of Asbury First
- To build budgets based on repeatable, regular income sources (pledged and unpledged individual giving, endowment interest draws, property usage fees etc.)
- To carefully steward the congregation’s resources, and, wherever possible, reduce costs
- To care for our staff, and compensate them fairly
- To plan for a reasonable budget surplus, as a safeguard against unforeseen expenses and to begin to build up cash reserves (depleted over the years of structural budget deficits)
- To educate and engage the congregation in the budgeting process, including a shared understanding of the full costs of operating our campus
- To finalize budgets based on pledges received by December 15
Timeline
Oct 15—Draft Work Area & Committee budgets due to the Finance Committee
Oct 26—Town Hall Meeting/Charge Conference; congregation will vote on pastors’ compensation packages (only); further budget discussion will be deferred to the January Town Hall
Oct 27—Finance Committee will review final drafts of General & COC budgets
Nov 10—Governing Board will preview draft budgets
Dec 15—Final budgets will be prepared based on pledges received by December 15
Dec 22—Finance Committee budget revisions (if needed) based on pledges received by December 15
Jan 12—Budgets presented to the Governing Board for a vote
Jan 19—Budget materials and FAQs to congregation via eblast
Jan 25—Town Hall Meeting- General & COC Budgets presented to congregation for a vote
Progress To Date
Work Areas and Committees are working on final expenses drafts. The total cost of operating our entire campus (General + COC Budgets) is almost $2,800,000 per year, or close to $7,900 per day. Expenses are increasing with inflation; our aging facilities require ongoing maintenance and repairs, and our fixed assets (technology and equipment) require periodic replacement. With this in mind, our goal for both budgets is to keep total operating expense increases in the 3-4% range. For more information about expenses estimates Click Here.
What We Will Need
Our main income sources for the General Budget will be General Pledges (68% of total income), endowment interest draws (17% of total income), unpledged gifts and property usage fees (budgeted to grow 15%). For a balanced 2026 General Budget, we will need $1,600,000 in General Pledges. Compared to our 2025 General Pledge Goal ($1,200,000) plus Second Mile Giving ($200,000), this goal represents a 14% increase.
Our main income sources for the COC Budget will be COC Pledges (54% of total income), ministry-specific gifts, grants/foundations, fundraisers, unpledged COC donations and the Dining & Caring Center Endowment. For a fully funded COC Budget we will need $335,000 in COC Pledges, with focused efforts to grow pledges from non-church members, our volunteers and supporters in the community. Compared to 2025, this goal represents a 12% increase.
Pledge goal increases (12-14%) are higher than the anticipated expenses increases (3-4%) for two reasons. First, both budgets include modest budgeted surpluses (income greater than expenses)- as a safeguard against unforeseen expenses and for the General Budget to begin to build up cash reserves (depleted over the years of structural budget deficits). Second, again for both budgets, as other sources of income change (decreases in unpledged general budget income for example), pledged income becomes a higher percentage of total income.
These are the numbers. With your support, we believe this is possible. To put this in perspective, we have 1,400 households in our Asbury First membership. To raise $1,935,000, if every household pledged, this would be $1,380/year per household ($115/month). Last year fewer than 400 households pledged. We need everyone to pitch in. We cannot rely on only a small number of families. You do not need to be an Asbury First member to pledge, and every pledge matters. If everyone pitches in, and everyone who is able increases their giving, we can do this.
New this year: So that we can ensure both budgets are adequately funded, final General and COC Budgets will be determined by pledges received by December 15.
If you have questions, need clarification or additional information, please feel free to contact the Finance Committee by emailing finance@asburyfirst.org. We value your questions and your feedback.
With gratitude for your support, and confidence in our shared future-
Dawn Riedy, Chair, on behalf of the Finance Committee
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