Update from of 1/29/2020
We are about halfway through our budget year which runs from July 1 to June 30. For this fiscal year the Ward budget is $5,050,000.
Every spring, a budget for the next year is recommended by the Trustees and approved by the Session. It is based on previous year’s giving along with careful consideration of trends, both at Ward and in the economy in general. This yearly budget includes staff salaries and benefits, ministry expenses, missionary and outreach support, as well as maintenance, repair and security of our building and grounds.
As part of our commitment to be good stewards, the budget and expenses are tracked closely. As you’ve heard the past few Sunday mornings, we are trending below our budget target. As of January 26, we are $156,110 below our target for this point in the fiscal year.
When the incoming funds start to trend below the budget forecast, limits are put on the expenditures of the staff. We call these “budget restrictions” and the goal is to make sure that we don’t spend more money than we have. In practical terms, this means each ministry department has to spend less than they had originally planned on their ministry programs. Currently, the restriction is 17.4%.
For example, as John Nowacki wrote in a recent LINKS article, he’s had to defer some much-needed scheduled repairs and maintenance to the building. Other programs and ministries are limited in a similar manner as the ministry leaders make the tough decisions as to where to pull back.
Additionally, this is the time of year when many in our congregation spend time in warmer climates or have weather-related challenges in getting to church. Often, they “catch up” their giving when they return. We encourage you to consider the online giving option during these winter months and perhaps throughout the year. Ward has been richly blessed in so many ways, with an amazing staff and faithful congregation, and consistent giving makes it easier to plan and manage God’s resources.
Thank you for taking this opportunity to understand more about our church finances, and thank you for your faithful giving and your prayers for God’s ministry.
Bill Jones, Chair of the Trustees