2018 proposed budget summary
2017 annual report
Respectfully submitted by Council Treasurer, Pastor Charles Miller
The complete proposed 2018 budget will be available at our Financial Update & Discussion Meeting on Sunday, January 21, and at our official Annual Congregational Meeting at 10:10am on Sunday, January 28. At the Annual Congregational Meeting, the congregation will be called to a vote on approving the proposed 2018 budget. Below is summary of the most critical aspects of the proposed 2018 budget, and the reasoning, principles, and foundations behind them.
The General Non-Designated section of the budget includes income from weekly offering envelopes, plate offerings, and special gifts. The 2018 proposed budget for this section represents a 6.5% increase in giving over 2017 actual receipts. Our gifts in support of Advent’s mission and wide array of ministries are the very foundation of the budget inasmuch as they represent 2/3rds of total projected income.
Draws from two invested funds are a significant source of income to the 2018 budget. First, the draw from the Parsonage Fund increases by $2000.
Second, the major change in this budget proposal is the draw of $50,000 from the Mission Fund. In 2017 the congregation approved a budget proposal with the known caveat that use of the Mission Fund for any deficit in the budget might be required and the budget itself was predicated on a possible $50,000 deficit. Thanks to the dedication of the congregation and the careful stewardship of our council, staff, and lay leaders, our 2017 deficit was $18,000 less than projected in the budget we approved. After covering most of this deficit using our General Reserve, we will need to take only $2000 from the Mission Fund to cover 2017 expenses over income. This year your council is proposing incorporation of the likely need for a draw from the Mission Fund up to $50,000 in the budget at the outset.
Other sources of income are budgeted at levels similar to 2017 actual receipts.
Expenses in 2018 are projected to increase by 7% compared to 2107 actual expenses. A 1.6% cost of living adjustment for our pastors and staff is incorporated in the Salaries accounts. Mission support for ELCA churchwide and synodical ministries remains steady in the budget.
In addition to this operations budget, council is proposing an additional draw from the Mission Fund of $50,000. Studies of our property indicate urgent issues requiring immediate action. These are matters related to safety and security, compliance with NYC building and fire codes, and areas of fragile infrastructure. The congregation will receive a more complete description of these challenges at the annual meeting.
Respectfully submitted on behalf of the council,
Pastor Charles Miller, Treasurer