When they told me the theme for this newsletter was “Rise Up”, I thought that would be easy. After all, both expenses and contributions (I hope) do Rise Up as the fiscal year goes on. Apparently that wasn’t what the spiritual side of the church meant. My second guess – pizza – which seems spiritual enough to me – didn’t go over either.
Okay. I’ll try. 2021 isn’t quite rising up like a clogged pressure cooker, but so far it’s doing well. I don’t have February financials yet (they make me turn this article in before February close) but I’ll discuss January numbers and positive things in February.
Our mail delivery problems continued through January, but we did finally, I think, catch up on year end/year start mailed in contributions. That likely means some December contributions got recorded in January, and we are continuing to update giving statements when we find out about those.
January Financial Numbers rose up:
- January Income: $62,800 vs a plan of $51,300 – Good
- January Expenses: $52,600 vs a plan of $56,800 – Good
- Total Income for April 2020 to January 2021: $598,300 vs a plan of $571,400 (This includes the forgiveness on the first PPP loan) – Good, considering the times
- Total Expenses for April 2020 to January 2021: $538,700 vs a plan of $557,500 – Good
- Surplus at end of January: $59,600 vs a plan of $14,000 – Good
We received a lot of “delayed in the mail” pledges in January and February also. Those pledges, along with the surplus year to date, means that the budget proposal for Fiscal Year 2022 (May 2021 to April 2022) is rising up to “balanced” without massacres of either the programs or the staff compensation. That budget was a $100K mess in December. I’m not expecting the income for February thru April to quite live up to plan, and I’ve compensated in the budget proposal, and it’s still looking like we can make it balance. That doesn’t happen every year. I’m a pessimist, not a masochist, so thank you for letting me avoid chopping programs this year.
We have applied for a second round of the Payroll Protection Program, believing that we will qualify for the forgiveness. I didn’t really expect we could apply, but when I ran the numbers, we did. I will spare you the details. There are lots and lots of details. The bank is reviewing the application now. If we get this “loan,” I expect we will apply for forgiveness in late summer because there’s a 24-week “lookback period” in the forgiveness application. If you’re checking them off at home, that’s a probable “rise up” event. The Finance Committee will do what is necessary to ensure we can repay the loan in the unlikely event we don’t get forgiveness.
You’ve heard a lot about the building remodel and the cost overruns, and I won’t repeat those details. At this time the estimated overrun still stands in the $100K to $150K area, as we said in the presentations – mostly due to regulatory and code requirements. The Building Committee is still working on reducing those costs, and Finance and the Council are working on being sure we can cover the costs.
The dogs are rising up (literally) and demanding a walk, and I had best comply. Thank you for continuing to support your church in the kind of times one normally sees on one-hour nighttime dramas.