We have reached September and are entering budgeting season, so it is time for my annual update on how the church is doing financially and my projections for the rest of the year.
As of the end of August, we have a year-to-date surplus of $48,000 for the general operating budget compared to a year-to-date surplus of $46,000 at the same point last year. We have moved the timing of some payments to the end of the year, so when taking that into account, the comparable surplus to last year would be closer to $26,000. I believe we will probably end the year in the break-even to slight surplus range. In 2020 and so far in 2021 contributions to the general operating budget have trailed 2019 contributions. The lower contributions have been offset by lower expenses due to reduced spending related to the COVID-19 pandemic.
As Session, the Stewardship and Finance Committee, and the other committees look toward the 2022 budget and the future, we are working to ensure that Derry Church provides for the current needs of the church members and the community, and also maintains 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.
Through the generous support of the congregation, we have been able to do large capital projects, like the new organ installation, without pulling significant funds from the session designated accounts that are invested. Also in the past year, we have received generous contributions to create new restricted accounts like the transportation account which enabled us to purchase a new van. We’ve also been able to add principal to session designated accounts like the Legacy and Capital Facilities Funds which help maintain our church and further the mission of the congregation. We have been able to use dedicated and restricted funds to do mission work in our community and throughout the world – whether it be helping youth with college scholarships or building a new wing on a school in Pakistan.
I would like to thank the congregation for your continued support of the church and of mission work in our community.
If you have any questions or would like to discuss anything related to Derry’s finances, please contact me.