The first half of the year has come to a close, giving us opportunity to pause for a mid-season financial check-up. As with any “household” budget review, we anticipate how are we doing against our plan for income and spending. I have very good news to report, and that is, WE’RE DOING GREAT… thanks to our wise preparedness, our faithful giving, and measured use of resources at hand.
Our income is almost on target for our plan, only about 2% short of our mid-year goal, a blessed sign of your faithfulness. Compared to this same time last year, we were about 6% short of our goal at end of June 2016.
We spent less than we have taken in, expending only 98.7% of our income. Due to delays in hiring and other ways we watched our first-half spending, we remain in great shape against the plan carefully set forth at the beginning of the year. As we reflect back on where we were this same time last year, by mid-year 2016 our operating expenses were 112% of income.
A few more items of note, as we review our finances mid-year:
- We are looking outward to our neighbors around us, and in the greater world. So far his year we spent more than last year in community reaching events and local advertising. And, hallelujah, we are extra-generous in our missions gifts to others. In fact, in June of 2016 we had disbursed $13,350 to our local and UMC mission partner organizations. As of June 30th this year, we have doubled that amount to $26,050! That total doesn’t include the $3000 check we wrote in early July to our new veteran friends at Heroes on the Water.
- All our ministry budgets are doing very well, thanks to our staff managing resources with great conscientiousness. When you see any of our program or administrative staff, give them kudos (and maybe a hug) for using resources wisely, and with great results.
- Our staff budget reflects the much-needed expansions in staff from this time last year. Yet even with increased salary cost, we are still running about $40,000 under plan for staff budget.
- We have seen increases in insurance premiums due to hail storms in the area last year, and our utility costs are up, especially electricity. We anticipate we will be able to address some energy efficiencies with a new HVAC control system coming later this summer.
- Finally, the restructuring of our debt payments for the next three years offers cash flow relief for us. With continued spending efficiencies, we hope to have a surplus by year end such that we can make a catch-up payment to our debt principle.
What a joy to be able to pass along that we are strong and healthy, and doing God’s great work in this church and our greater community.
Blessings to all who participate alongside us in this Household of God,