This webpage is a place for the Senior Warden, Margaret Spellings, to communicate updates on Vestry initiatives and Parish activities.
For the first two months of the year, much of our Vestry time has revolved around the nuts and bolts of any church: stewardship and budgets. While not always keeping us on the edge of our seats, approving the budget is one of the most important things the Vestry does each year.
How does the Church set its budget? The budget that the Vestry approved at its February meeting depends largely on the stewardship campaign. When you made your pledge for 2018, the Church counts on receiving those funds to pay for expenses. In 2017, current pledges accounted for approximately 88% of our budget. Other revenue comes from prior year pledges that are collected late (3%), unpledged contributions (5.5%), the collection plate (1.5%), and other miscellaneous income (2%).
The 2018 Stewardship Campaign ended on January 31. The campaign received total pledges of approximately $5.2 million. Grady Schleier, our Treasurer, Rob Baber and the Finance Committee used that number as the basis for the budget. They used prior year trends to estimate how much would be collected this year from the other revenue sources. This is how total operating revenue is determined. The expense budgets of our ministry areas, mission and outreach, administration, operations, and the Saint Michael Episcopal School are then adjusted so that operating expenses will match revenues.
You may recall that our 2017 Vestry made some changes to move the Vestry to a more strategic role, focusing on the Church’s mission and strategy. However, the Vestry continues to execute its fiduciary duties with regard to the finances and operations of the Church. The budget is a big part of that duty. Now that the budget has been determined, the Vestry can turn its focus to other, more strategic, areas.
If you have any questions or concerns about our parish life, the Vestry would love to hear from you! You can email me.
Margaret Spellings, Senior Warden