Budget Requests Due October 31

The Finance Committee is in the process of developing the 2020 operating budget for the parish. The letter below has been distributed to ministry committee chairs and other leaders with budget responsibility. Completed budget request forms are due by October 31:

Download a budget request form (pdf)
Download a budget request form (Word)

September 15, 2019

Dear Friends:

Since January, the finance committee has been working to address the operating deficit in Church of Our Saviour’s budget and now, as we begin to develop the 2020 budget, we need your help.

In recent years, we have had a gap between our income from pledges and investments and the expenses required to run the church and fund our ministries. For a number of years, we have covered that gap with some funds bequeathed to our church without restriction on how they could be spent. But in 2018, we depleted those funds.

This means that, beginning in 2019, we are forced to draw more income from our investments than the 5% that financial experts tell us can be sustained over time. The gap between what we take in and what we spend is approximately $25,000/year, although we will not be able to provide an exact figure until the end of the year.

We know we need to close this gap, and we know that doing so will take a combination of increasing income and decreasing expenses. A fundraising committee that is part of the Living Bridges initiative is working on the first. The second—reducing what we spend—is something we need to address as we create the 2020 budget, and so we are making some changes to the way the budget is developed.

Attached to this letter you will find a budget request form. By October 31, we ask that you fill it out for the ministry or committee that you chair, letting us know what your area of ministry will need to spend in 2020. Please return the form to Jim Simon at JSimon@BDBLAW.com or Rebecca Wilson at rebeccaswilson@me.com.

You’ll see that we’re asking for three kinds of expenses:  1.  your routine expenditures—what it takes to continue business as usual; 2.  your top priorities if additional funds are available; and 3.  any funds required to address issues or concerns that you can foresee.

The finance committee will meet in early November to review your budget requests, and we may be back in touch with you then to ask questions or get more information. By mid-December, we will present a 2020 budget to the vestry for approval and provide it to you and to the congregation for review before the January 2020 annual meeting.

Members of the finance committee will be available on several Sundays in October during coffee hour to answer questions and help your committee fill out the budget request form if that is helpful to you. Please watch the newsletter and the bulletin for dates.

If you have questions about this new budget development process, please talk with Jim Simon, chair of the finance committee. Thank you for your help and your work which will help us ensure that Church of Our Saviour remains a vibrant community of faith for many years to come.

Faithfully,

Church of Our Saviour Finance Committee