Board Update - March and April

Board Update, March and April 2016

Thanks for your patience with me – I am very late in providing an update on our March and April board meetings.  I’m pleased to be able to share updates with you about a few important things we discussed at the AGM: student ministry, our visioning process, and our current financials. 

Student Minister

At our AGM, I mentioned that we had recently learned of an opportunity to support a student minister this year in partnership with Emmanuel United. The boards of Emmanuel and First are in full support of this initiative, and each board has been able to identify funds to help cover up to $6,000 of the costs of the student. We have requested support from Presbytery to cover the rest of the costs, and are awaiting a final decision from them. We’re hopeful that we will receive support from Presbytery to cover these costs. I will update you as soon as I have more information to share about this exciting opportunity!

Visioning

During our visioning discussion in March, the board considered how we could best move forward quickly with our visioning process. We considered bringing in help from EDGE or another facilitator, and also considered how we might be able to continue working together as a board. We have decided to continue working as a board for the time being, and we will be discussing one important visioning question each month.

Our discussion question in April was “What do our ministries need to look like in 5-10 years?” We worked in small groups, and we considered our current congregation members, those who will be part of our congregation in 5-10 years but aren’t in our congregation today, and those who are in our community and use the building but won’t be in our congregation. We talked about the importance of being a safe and welcoming community and place; we discussed the importance (and definition) of membership; and we discussed ministries that might be important (and the challenges we may face). We also learned about how our property is zoned by the City of Waterloo, and some of the regulations and options we might need to consider if we were to make changes to our building.

Financials as of March 30, 2016

Each month, our finance committee prepares a report for the board. They have recently started sharing a summary report with us, which we felt it was important to share with you. This report shows our total revenue, total expenses, and net revenue, and compares each figure to our budget.

It’s important to know that our budget looks at total revenue and expenses over 12 months. To approximate the monthly expected revenue and expenses, we simply divide those annual numbers by 12 (which is a very common approach). However, this does NOT reflect how the income or expenses happen in our church. Being under budget for revenue and expenses at this time of year is expected, and happens every year. 

It’s also important to note that last year, we tracked money we received for our capital campaign in our operating revenue and expenses. This year, we are tracking them separately, and they are not included in our operating revenue or expenses.  Because of this, the “YTD Prior Year” figures are not an apples-to-apples comparison to this year’s figures.

If you have any questions about our financial reports, please speak to a member of our finance committee or to me.

Thanks!

Heather Galt

 

         

 

Current Month

Year to Date

YTD Budget

YTD Prior Year

Total Revenue

41,467.60

97,679.08

108,425.01

127,118.34

Total Expenses

46,479.82

106,609.05

111,776.25

116,806.43

Total Net Revenue

(5,012.22)

(8,929.97)

(3,351.24)

10,311.91

Percentage of Expected Revenue

-

-10.00%

   

Percentage of Expected Expenses

 

-5.00%

   

Total Contributions

21,495.60

63,409.40

72,425.01

63,584.09

Percentage of Expected Contributions

-

-12.00%

Total Contributions down by only 174.69 compared to last yr

                 

Service Times & Location

Sunday Service: 10:30am 

Includes special programs for babies, children and youth.

Accessible building, with special supports for those who are hearing impaired or have low-vision.

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16 William St
Waterloo, ON
519-745-8487