Once again the Lord has shown us favor as we ended up 2016 with $58,000 in excess funds. We will carry over approximately $25,000 to begin the year as we have done in the past. The Finance Committee will meet in February to determine how to disburse the remaining funds. Every year their goal has been to identify a number of ministries outside the church that we can bless as the Lord has blessed us.
One question that many might be asking is “How can we have over $50,000 in excess funds when we were running $40,000 to $50,000 behind our Spending Plan goal for most of the year?”
We have come to see that the way we report our finances gives an incomplete picture of our true financial status. The number that we have been reporting on a weekly basis in the church newsletter – weekly contributions – is an important part of the picture. But it’s just one part of a much bigger picture. For instance, while contributions were coming in under projection, our expenses were also running well under projection throughout the year. In addition to that, money that is contributed but designated for a certain purpose (Debt reduction, Deacon Fund, Food Pantry, Missions, etc.) does not get included in the weekly figure that gets reported in the newsletter. The number that we have always reported has been limited to money that is contributed to what is called the General Fund.
This year, in an effort to provide you with a more complete picture of our financial situation, we will be making a change in how we report. Rather than reporting on a weekly basis we’ll begin reporting on a monthly basis, but with much more information. Church leadership receives a monthly “Treasurer’s Report” which provides us with a complete picture of our income, expenses and designated giving. We will begin to provide these important numbers to you as well. Throughout the year we will also provide you with current figures regarding funds that are held in a Contingency Fund and in our Benevolent Fund.
Thank you for your financial support of the church in 2016! Let us give thanks to the Lord for His goodness to us, and pray that He will give us the wisdom necessary to be excellent stewards of the resources He provides.