In October, we begin the budgeting process for 2013. As boards and committees plan for next year, it’s instructive to have an evaluation of where we are trending for this year. While the full financial report is covered in the Board of Administration meeting, and is sent out monthly in the Explorer, I think the simple chart on the right (click to enlarge) gives a good picture of where we are now year-to-date at the end of September.
On the receipts side:
- Giving is about $40k above this time last year. This increase is shown in both pledged and non-pledged giving.
- Receipts are still below budget, but this is typical for this time of the year. Giving tends to drop off in the summer, and December contributions are typically very strong.
- We have some ground to make up to reach our receipts budget, but, with strong giving in the 4th quarter, we have a good chance to hit our budget goal for 2012.
On the expense side:
- Expenses are down over $70k from this time last year.
- Almost half of the expense reduction is due to lower staff costs in 2012. Our current ministerial staff includes four part-time, interim ministers. Once we move back to full time staff, this expense will increase. However, staff costs are expected to stay low through the end of 2012.
- Other lower expenses include lower heating costs due to the mild winter, lower than expected repair costs, and reduced printing costs with the new Explorer format.
- Expenses are somewhat deceiving vs. budget, since there are high expenses in December when most of the missions donations go out. However, it is expected that year-end expenses will be below budget (and below 2011 amounts).