Financial Update

It’s nice in the middle of all the bad Covid-19 news to be able to share some good news: even though some of our previous regular givers have not given since Covid restrictions began, our overall income foundation has held firm. We believe many of you when not attending in person have actually been a little more intentional about your giving. It takes a little planning and effort to give when you need to go online or find an envelope and a stamp. Even though Covid-19 has affected jobs or income level for some, the overall consistency of giving for the present has improved.

While there have been some minor cost increases for cleaning, overall ministry expenses have been down during our restrictions for activities beyond worship services. It has also helped greatly that a PPP Grant through the Cares Act covered 10 weeks of payroll. The grant is counteracting effects of lost donors or lost income due to Covid-19 this year.

As our fiscal year began in Sept. 2019, we had to make cutbacks to salaries, building and grounds projects, benevolences, denominational missions agencies and committees. As we reach the end of the year, in view of reduced expenses and consistent Covid giving, the Session authorized the restoration of these budget cuts from 50-100% for the various categories. We extended the call for David Kim as part-time Assistant Pastor another year. The Session also set aside some money for a transition fund for additional expenses involved with preparing for Pastors Rakes’ and Barr’s transitions in fall of 2021.