We are more than halfway through 2020 and the congregation is moving into the budgeting season, which makes this the perfect time to share with you how we are doing so far this year and the projections I have for the rest of the year.
As of the end of August, we have a year to date surplus of $45,000 compared to a year to date surplus of $100,000 at the same point last year. Contributions so far this year are about $75,000 less than I projected based on our budget, while expenses are about $120,000 less than what was budgeted. Both of these variances are due in part to COVID-19. Committees are spending less due to fewer activities and intentional saving with COVID-19. Expenses are also under budget as the Associate Pastor and full time Music Director were not filled for the first half of the year. Now that the church is fully staffed, I expect that expenses will increase through the second half of the year. I believe we are on track to be around break-even for the year, but this is hard to project this year due to uncertainty around the pandemic and economic stimulus.
As Session, the Stewardship and Finance Committee, and the other Committees look toward the 2021 budget and the future, we are working to ensure that Derry Church both provides for the current needs of the church members and the community, while also maintaining financial stability. We are looking at capital projects over the next several years and are working with the committees to make sure they align with the mission and vision of the church. By planning for the future, we can make sure we are managing our resources responsibly.
I would like to thank the congregation for your continued support. Contributions and cash flow have remained stable throughout the pandemic. Because of the generosity of our congregation, we have been able to continue to support our mission partners. Thank you.
If you have any questions or would like to discuss anything related to Derry’s finances, please contact me at