Every December, this generous congregation celebrates its extraordinary ministries with a year-end surge in giving. In part, this generosity puts the exclamation point on the success of Session’s annual budget process. 2018 was no exception. The 2018 budget ended the year in a statistical break-even. Session’s two budgets, for income and for expense, began the year with the Faith-Giving component of $-66,124. This was a beginning operating deficit virtually erased through the year and ending with a net income of only -$2,879, 0.003 of total income. Total income came in at an annual record of $913,149 with expenses at $916,028. Households that had pledged for 2018 fulfilled their pledges 100%, a pace far-exceeding church pledge averages in North America. Non-pledges (checks from donors that did not pledge) hit an all time high, about 50% above budget at $321,700. Overall, total income for the year came in at only a fraction of a percentage under budget, while expenses came in at 8% under for the year. FPC’s remaining mortgage stood at $78,378 at year end. The mortgage payments are annually built in to the expense budget.
Pledges continue to come in for the 2019 budget year. Households that have not yet pledged are encouraged to prayerfully consider the ministries of the congregation and their extraordinary and exciting vision for the year. Brochures and pledge cards remain available at the Welcome Center and in the office.
Brief summary of the data:
December income: 112,893
December expense: 70,804
December Net: 42,089
2019 Income: 913,149
2019 Expense: 916,028
2019 Net: -$2,879
Cash in checking and savings: 292,648
Donor-directed funds: 215,468
Available cash reserves: 78,378
Remaining mortgage: 78,378
The complete financial report for 2018 year-end is contained in the Session folder in the Office for anyone to read. I am always available for Q & A.
Boyd, Finance Director