Newsblast from the Elders 2.18.19

Dear North Sub Family,
As we turn into the final stretch of our fiscal year which wraps up on March 30th, the Elders wanted to reach out to the entire Congregation to share some concerns that we have around where we are financially and what this means for planning our 2019/2020 budget. For those of you who were able to make it to the January 27th Congregational Meeting, you heard Laurence report out that we have been running behind budget on the Giving side for the last few months. Through the end of January, Actual Expenses are running ahead of Actual Income putting us at a deficit of $24,000. Assuming no changes in giving trends in February and March, we are forecasting that we may close our fiscal year as much as $33,000 in the red.
It is important for us to share this news with everyone for two reasons: 1. Because our annual budgets are based on a net-zero basis. Ending the year with a negative Net Income result means that we are effectively “living above our means” and will have to draw down our financial reserves. This is not good for the long-term health of our Church, and we don’t believe this shows good stewardship of the resources with which God has blessed us. 2. Where we finish this year’s income is the starting point for setting our 2019/2020 budget. So ending with a negative Net Income result this year means that we may have to set a lower budget for next year, which will negatively impact our ability to execute our ministry and mission.
Our wonderfully committed Pastors and Staff have already reduced expenses down to what we believe is the minimum. We do not want to take much more drastic action, such as freezing Staff increases or even reducing Staff salaries. So the only way to get us back on track this year and to set a 2019/2020 budget that achieves our ministry and missional goals is to get our Giving back on track this year to match or exceed our already-reduced expenses. We have planned a Town Hall meeting after church on March 17th to follow up on the Congregational input from our last Congregational Meeting. Additionally, we will share the initial draft of our 2019/2020 budget based on how we expect this year to end up with only 3 weeks to go (at that time). To increase awareness and to assist us in our prayers for God’s help, we will be providing weekly updates in the Sunday bulletin of our Year to Date Actual Income verses Year to Date Actual Expenses. This way, we can all see where we stand financially. As of 2/17/19, Actual Income is $658,349? Actual Expenses are $685,975? NET is a deficit of $27,626.
Now that you are aware of our financial situation, here is what the Elders would like to ask of you: Please pray over our financial situation and ask the Lord to put on your heart what He wants you to do. We know that the Lord provides all that we need and more than we deserve, and we know that the Lord calls us to live missionally and act as a “Fellowship of Believers” as we see in Acts 2: 42-47. So as you pray over our financial situation, please bear in mind what we read in 2 Cor 9:7 in terms of sharing God’s gifts: “Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver.”
We know and fully trust that the Lord is in all of this, so we place our full trust in Him to lead us through our work here at North Sub. Please do pray over this and listen to what God is calling you to do to help us achieve our goals for this year and going forward.
The Elders