Dear People of St. James’,
Each quarter, the Vestry Finance Committee (VFC) updates you on the financial well-being of St. James’. At the end of the second quarter, our financials remain strong.
Here is a financial overview:
| Ordinary Income/Expense | Jan – Jun 23 | Budget | $ Over Budget | % of Budget |
| Pledges | 342,756.59 | 329,694.52 | 13,062.07 | 103.96% |
| Operating Contributions | 61,592.49 | 67,500.00 | (5,907.51) | 91.25% |
| Loose Plate | 4,124.14 | 5,000.02 | (875.88) | 82.48% |
| Other Income | 37,942.40 | 45,442.40 | (7,500.00) | 83.50% |
| Total Income | 446,415.62 | 447,636.94 | (1,221.32) | 99.73% |
| Operations | 71,600.18 | 79,783.46 | (8,183.28) | 89.74% |
| Staff | 232,390.46 | 249,282.11 | (16,891.65) | 93.22% |
| Mortgage | 0.00 | 0.00 | ||
| Diocese | 34,956.48 | 34,956.52 | (0.04) | 100.00% |
| Worship, Ministry, Outreach | 45,548.98 | 55,507.29 | (9,958.31) | 82.06% |
| Total Expenses | 384,496.10 | 419,529.38 | (35,033.28) | 91.65% |
| Net Income | 61,919.52 | 28,107.56 |
Pledge receipts are still a bit ahead of expectations and are trending toward budget as we anticipated. Operating contributions are slightly behind expectations for the end of the second quarter, but we see no reason for concern at this point. Expenditures remain lower than budget primarily because we have not yet hired an associate rector or a part-time sexton for Sundays.
St. James’ is in a very healthy financial position as we complete the first half of 2023. We are current on all of our major maintenance items; we keep three month’s operating costs in savings for emergencies; and our Parish Administrator and the Finance Committee are keenly focused on managing our expenses. This puts St. James’ on a good trajectory for the second half of 2023.
The Finance Committee is humbled by the great generosity of you, the People of St. James’, and by your commitment to the life-giving mission and spirit of this faith community. Thank you for the ways you give and offer yourself to that mission!
In the coming months your pledges and giving make us confident as we make new commitments to staff, including a part-time Children’s Minister, and a part-time sexton for Sundays. We anticipate making an announcement about the Children’s Minister position in August, and we ask you to join us in prayer as we look for candidates who can serve our growing St. James’ community.
You can reach out to me or any member of the Vestry Finance Committee with questions or concerns.
Respectfully,
Martin Jolivet, VFC Chair
