COMMITTEE

UPDATES

This is my initial attempt at a regular communication in the Voice to all of you regarding the financial health of our parish. When I agreed to become treasurer beginning February of this year, I cautioned my recruiters that I would have little or no time to devote to this new task until after April 15. April 15 has now come and gone and I have finally had time to begin looking at our financial health. While it is not a pretty picture, it probably should not surprise anyone given the tumultuous events in our parish and our country over the last nine months.

First the good news:

• Our expenditures appear so far this year to be in line with our budget.

• Our non-pledging income is up from budget by nearly $4,000.

• Our pledged income collected so far is pretty close to actual pledges made.

Next the bad news:

• Our pledged income is down $55,000 from last year.

• Our budget for 2002 includes pledged income in excess of actual pledges by $29,000.

• Our fair share amount from the diocese payable in 2002 is based on actual income collected in 2000, which was probably the highest our parish has ever had.

• Our fair share amount for 2002 exceeds our budgeted amount by $7,000.

• When our organ construction project was completed, it cost more than $13,000 in excess of actual funds raised for the project. This amount has never been charged to the general fund.

• Our financial statements for 2001 did not include a final 2001 fair share payment to the diocese in excess of $10,000 because it was not paid until 2002.

After factoring in the above items, we could finish up the year with a general fund deficit in excess of $44,000. This did not happen over night. Reviewing past statements, we have been spending more money than we receive since at least 1998. Most of it clearly has occurred in the last 12 months. It is critical that we restore our financial health as soon as possible as we begin our search process in the coming months.

What is your vestry doing about this? First, we are attempting to be good stewards of the dollars you have entrusted to us. We are also seeking a major reduction in our fair share amount for the balance of 2002.

What can you do? First, if you have made a pledge for 2002, please continue to keep your pledges current. Second, if you did not pledge for 2002, please continue your donations, as we desperately need to collect more than was pledged. Third, if you are in the fortunate position of being able to consider any special gifts this year in excess of previous pledges, your generosity would be greatly appreciated. Gifts to eliminate the organ fund deficit would be especially appreciated. Last, please support and encourage Jason Knauss and the stewardship committee as they begin our stewardship campaign for 2003.- 

- Larry Mahoney, Treasurer