Hi once again. I’m Micah, VFC chair and vestry member. VFC stands for vestry finance committee.
Hi, I’m Alondra, VFC member and vestry member.
Hi, I’m Lisa, VFC member at large.
We wanted to provide you a financial report on the second quarter for St. James. (SLIDE ONE)
We like to start by bringing to mind our mission at St. James. (SLIDE TWO)
It’s our mission to embody Christ’s love wherever we are, by welcoming all to the table for spiritual nourishment to share with the world. Our budget reflects this mission.
For this report we’d like you to remember one theme: Austerity… with Vibrancy.
St. James is healthy, and it is adapting.
First, two spots of good news: We were approved for and received a federal PPP loan for $46,800. We have made sure that nearly everything we have spent it on will qualify for loan forgiveness,
and have indeed already applied for that forgiveness. Second, the diocese waived three months’ worth of our diocesan assessment, which has saved us over $7,000.
Overall our finances remain strong. People are paying their pledges. We are keeping a very close eye on other income, though, and as you can imagine, we have a gap in operating contributions (which is money given to St. James that has not been pledged), loose plate (which is cash in the offering plate), and rental income.
As such, the vestry has approved a budget through the remainder of 2020 that anticipates a 30% drop in operating contributions for the year, as well as reduced loose plate and rental income.
Our creative rector, parish administrator, treasurer and VFC have worked diligently to make sure we continue to thrive during this time. So what does that look like?
Well, to adapt for the different ways that we are doing church, we’ve made some changes. We are prioritizing that funding designated for outreach is getting out into the community to do good. And we are making strategic investments that support the new, developing shape of our life of worship together. So we’ve increased our investment in the equipment and people who make our video, audio and virtual music possible.
In line with the theme of austerity, we have made some reductions in programs that cannot proceed in the same way as before COVID-19, until our public health outlook changes dramatically. This includes a couple of staffing changes that we announced in a recent letter to the congregation. It will be a long time before we can do in-person choral singing or have the same type of nursery care we’ve provided in the past. So we’ve had to part with our choir director Helen Miers, who we will continue to pay through September, and we’ve furloughed our nursery staff, who we kept on our payroll through this month.
We are being careful and conservative with our finances, as 2020 has brought one unknown after another. But here’s the thing. Remember the theme? Austerity with Vibrancy. At the same time, we are a vibrant church, full of life, and we are giving that life and love to the world. We are making sure our budget continues to help our neighbors, families, and spiritual community flourish. We are honoring the stewardship commitments you made this past fall, and prioritizing our mission.
It’s worth mentioning that our 501(c)3, Welcome Table, Inc. continues to do incredible work. Neighbor to Neighbor and Freedom Schools are a bright beam of light in a very challenging time for many people. I encourage you to watch the newsletter and read about it, and consider getting involved. (SLIDE THREE)
A couple numbers: Our new approved budget, with the changes we just mentioned, puts us 28% ahead on income for the year, and just about right on the nose with our expenses. We are hoping that this conservative budget allows us to stay in the black through the remainder of the year.
This remains a very unique time for our church. So what can you do? First, thank you for paying your pledges. (SLIDE FOUR – bullets)
If you already give money to St. James, one thing that helps greatly is if you make that process automated. This can be done by contacting your financial institution and setting up Automatic Bill
Pay. If you need help, Aimee Estep in the church office can gladly walk you through it. Just call her. 512-926-6339
And if you’d like to, one of our parish families has suggested sending in an extra check that represents what they would have normally put in the offering plate. That’s what we would ordinarily consider an “operating contribution”— a type of income we don’t see as much of during this pandemic. If that is something you’d like to do, we welcome it.
But we also know that there may be additional financial strain and concern for many in our church family. If you are having trouble paying your pledge, for example, and think you will need to adjust
it, you can communicate this confidentially to the Parish Administrator, Treasurer or Rector. It’s very helpful for us to have that information. (SLIDE FIVE)
And please remember that we have an online giving option. Just go to stjamesaustin.org and click “Give” along the top of the screen to give by credit or debit card or paypal. You can also send a check by mail to St. James Episcopal Church, 1941 Webberville Rd, Austin, TX 78721. (END)
Lastly, please know that the VFC, the vestry, and our rector Rev. Eileen continue to anticipate and actively plan for St. James’ future. We will continue to keep you updated. Continued thanks to Rev. Eileen, Aimee Estep, our Treasurer Will Clark, Bookkeeper Allyson Hallmark, the VFC and vestry members, and all of you who are part of this community. Thank you!
