Where are we, The River, financially?
Sunday afternoon, January 28, The River Church held its annual business meeting. The purpose of the meeting was to review our financial data from 2017 and present the 2018 budget to be voted on by the members who were present.
The finance team operates under the authority of the elders and reports to the elders. The members of the finance team are Dan Stevning (chair), Sheryl Lee, Darin Winterringer, and Bill Gregory. This team meets monthly to review the church’s income and expenditures, as well as make recommendations to the elder board.
2017 was a tight year financially for the church. We ended the year $36,070 in the red. Our income was only 87.7% of the budget. Our elders, finance team, and staff worked hard to keep expenses at a minimum, and we only spent 95% of the budget in 2017.
Due to a few rising costs, such as healthcare and utilities, the 2018 budget is only slightly higher ($31,751 more) than 2017’s actual income. Because financial support has been down, the finance team recommended, and the elders approved, that for the first time in our church’s history, staff salaries would be frozen for 2018. This will be reviewed quarterly, and if giving rises consistently that decision will be revisited.
We are thankful that we have been able to pay down over $30,000 on the principal of our loan in 2017. The current balance is now under $350,000.
Those present at the meeting were also notified that in the spring our parking lot will be undergoing much-needed repairs and resurfacing. This work is necessary and would have to be done in any future building expansion. Because of this, we will be using cash on hand in our building fund to pay for the work and no additional debt will be incurred. Last summer, we contracted a civil engineering firm to make their recommendations to improve our parking lot drainage. Then bids were sought from four recommended companies and the lowest bid was chosen.
Amidst the downturn in giving in 2017, we still see God changing hearts and impacting the community through you. For example, just two weeks ago a majority of those in attendance at the Sunday services wrote down an area in their life where Jesus had not been the leader—then they pinned their paper to the cross. (See image.) Thank you for your faithful and generous support to The River Church—you are making a difference for Jesus’ Kingdom when you give!
If you would like to start giving on a regular basis to The River to help continue making a difference for Jesus’ Kingdom you can set it up easily online. Just head over to our Online Giving page and you can set it up today.