The year 2020 has been a challenging one for all of us. Our church finances are no exception. Last April, as we were learning about the COVID-19 pandemic, we prepared and approved an austerity budget reflecting our estimate of the impact of the pandemic. Excluding the benefit of our Paycheck Protection Plan (PPP) loan, our income this year is expected to be $35,213 less than last year and the pledge share of our budget has increased from 73% of the budget to 83%. As we manage through the pandemic, we continue to avoid nonessential expenditures while spending what is needed to maintain our caring community.
· Our budgeted income is on target in all categories—thank you for paying your pledges, we depend on these more than ever this year.
· We expect our PPP Loan (part of the Cares COVID relief act) of $25,544 to be fully forgiven, although we do not know when.
· Our expenses, the hardest thing to predict in these uncertain times, are under budget by $15,323.
· Our success controlling expenses has provided funding for some needed repairs at the church and helped us replace one of the television monitors stolen last year.
Kitchen Renovation Project
A major success for this year is the fundraising for the Kitchen Renovation project. At this time of financial strain for many of us, our generous congregation has thus far pledged over $85,000 toward the project. Together with money committed from the Parking Lot Fund, your donations will help complete this important project.
We are currently collecting on these pledges. If you would like to fulfill your pledge or contribute to the Kitchen Renovation, click HERE or mail a check to the church office. Next month we'll provide an update on financial status and construction schedule for the project.
-- Paul Craig, Treasurer