Your Finance Team’s responsibility is to develop the yearly budget for Nativity, and then to monitor the church’s monthly income and expenses to track how they meet projected and budgeted levels. During the current challenging time, we have been particularly vigilant to understand the results and trends. Financial results through March had tracked to the past fiscal year, with revenue and expenses at projected and budgeted levels. But we had been very anxious to see April’s financials; the good news is that income from both pledges and regular givers continued to be close to budget, and expenses were at budgeted/forecasted levels.
Given the current state guidelines, which closed all schools and discouraged gatherings of more than a few people, we expected that our rental income would drop completely. This will become more of a concern if it continues over time and will require some budget adjustments. Rental income budget is $32,000, which is approximately 6% of Nativity’s budget.
On behalf of the Vestry and the Finance Team, I want to thank you for your continued support of Nativity and our missions. The Vestry is strongly committed to supporting the church’s staffing, program, and outreach activities, and your ongoing support make this possible. Please strive to keep up to date on your pledging, if your circumstances allow. If you are a regular giver, please also consider maintaining your previous level of financial contribution.
John C. Oldham
Finance Team Chair/Vestry Member