A Finance Update

A Finance Update

By: Steve Hable

As acting Chair of the Finance Committee, I thought we should give everyone an update on our financial status at the mid-year point. You received an email and a letter from Pastor Greg that we are about $70,000 lower on income than projected. Here is a quick synopsis on the total picture. First, we have an income problem and not an expense problem. The entire church staff is doing a marvelous job of controlling expenses. Our budget for expenses for 2017 is almost the same as the actual expenses for 2016. The church staff is holding the line on expenses and at this point we believe expenses will remain at budget.

The income shortfall is predominately in pledged giving. For the first six months pledged giving is down over $65,000! This amount is 17% of the total budget for the first half of the year. This decline in pledged giving has been an issue since January. If you have not kept your pledge current, we encourage you to make whatever contribution you can afford. If you are unable to continue your pledged giving, please contact a member of the clergy. Thanks to all for keeping your pledges current. If you can increase your giving, please prayerfully consider making additional donations.

The shortfall between income and expenses is being made up by suspending our apportionment payments to the Conference. We have not made an apportionment payment since March. Suspension of apportionment payments is a serious matter, but we do not have the assets to make payments at this time. We will do everything possible to pay apportionments when our pledged giving improves.

With the arrival of Pastor Greg and family, the addition of Pastor Lori Doyle and the coming merger with El Cajon First, Foothills is entering an exciting time in ministry. We will close the gap with your help. If you have any questions or comments, please contact me.

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