2008 Third Quarter Financial Update

Giving for the third quarter of 2008 (July-September) was $313,749. This was 9% less than the third quarter of 2007 ($344,750) and $3,479 more than our budget of $310,000. Expenses for the same period were $405,660, which was $6,201 more than the amount we budgeted for the period. 

Through the first nine months giving to the operating budget is $1,067,863 (3.7% under budget) and total expenditures are $1,211,872 (1.6% over budget). Because almost 30% of our total revenue is received in the fourth quarter and because of the expenses related to the summer youth trips it is not unusual for expenditures to exceed revenue in the first nine months of the year. 

2008 Second Quarter Financial Update

Giving for the second quarter of 2008 (April to June) was $396,528. This was approximately the same as the second quarter of 2007 ($396,752) and $26,528 more than the budget of $370,000. Expenses for the same period were $427,123, which was $19,398 more than the amount we budgeted for the period.

Through the first six months giving to the operating budget is $754,384 (5.1% under budget) and total expenditures are $806,212 (1.6% over budget). Because of all of the expenses related to the youth trips it is not unusual for expenditures to exceed revenue in the first six months of the year. At the May meeting the elders agreed to expense reductions of $41,222  to offset the shortfall in the revenue.

Please call or e-mail Tom Ledoux for additional information or contact one of your elders.

2008 First Quarter Financial Update

During the first quarter (January to March) giving to the church’s operating budget was $357,855. This was 26.7% less than last year and  $67,145 (-15.8%) less than we had budgeted. Expenses for the same period were $379,089, which was $7,168 less than the amount we budgeted.

The decrease in giving in the first quarter from the amount received in 2007 did not come as a surprise. However, the size of the decrease (most coming in March) was more significant than we had anticipated and does cause concern as we look forward to the remainder of the year. The leadership team and elders are in the process of reviewing the budget to determine which expenditures can be reduced or eliminated. Should April giving continue to fall short of our budget projections, the Board of Elders at their May meeting will consider options for reducing the budget for the remainder of the year.

Please call or e-mail Tom Ledoux for additional information or contact one of your elders.

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