Overall, we are tracking well against budget however we are slightly behind on offerings. More notably, income to support the ongoing servicing of debt for our building (the “Education and Christian Teaching Fund”) is lagging behind.
Total Income and Expenses
Our income has significantly increased this year (largely from VISION 2020), however it is important to keep in mind that all of these funds are designated for new roles – i.e., the part-time youth/young adults (Peter Dutton) and the full-time Children & Families (yet to be employed). Income largely consists of offerings plus a small amount towards serving the debt on our building. Overall, we are slightly behind on budgeted offerings.
Where We Largely Spend Our Financial Resources
- The largest portion of our funds is designated to support the stipends and salaries of our ministry and staff team.
- We also have significant contributions to the Diocese and Mission Partners.
- Our Worship Centre (i.e., Loan Repayment) and Administrative Expenses are lean (considering the size of our church), but also significant expenses.
Support of the Education and Christian Teaching Fund (i.e., the funds which service the loan on our building)
- Each month we spend $5021 servicing our loan.
- Historically, there has been both regular giving and one-off donations.
- Over time, less money has been going into the building fund.
- This means that, depending upon one-off gifts (which are hard to predict), we may need to draw from general offerings to service the loan.
- There’s a great opportunity towards the end of financial year to consider a one-off or ongoing gift to not only support the servicing of the loan but also to start seeding money for designing and implementing stage 2.
If you have any questions, please feel free to contact our Treasurer, Jeremy Freiburg by email (firstname.lastname@example.org) or phone (07 4636 4342).