Dear People of St. James’,
Now that we are in the middle of fiscal year 2024, the Vestry Finance Committee (VFC) wanted to update you on our current financials. Overall, the good news is that the financials are pretty boring. Our pledges are tracking substantially ahead of where they were last year, but our operating contributions (money received outside of pledges and loose plate giving), is tracking lower than last year. We are continuing to watch operating contributions, which usually increase in the 4th quarter. When looking at the combination of giving through pledges, operating contributions and plate giving, we are exceeding what we budgeted. That is pretty standard for this point in the year.
Expenses that we budgeted are about what we expected. Electricity has been lower so far this year, but insurance is higher. We have had one unexpected expense and one wonderful ministry opportunity (having a curate!) during the year that have increased our expenses by $25K. We will keep a close watch on income vs. expenditures for the remainder of the year, and give the congregation another update in the fall.
We are blessed that we have gotten our financial house in order. We have a substantial rainy day fund, and giving overall is up year to year. We thank you for your continued love and support of our community. If you have any questions, please contact someone on the VFC.
Your VFC:
Clint Dawson, Chair
Will Clark, Treasurer
Margaret Shaw
Jeffrey Cox
De Sellers
Jim Burgess
Micah Barber
Matt Harriger
