Our proposed 2022-2023 budget will be available in late May as we prepare to vote on it at our June 5 congregational meeting
April 22, 2022 Financial Update
We're ramping up to create next year's budget for presentation and vote at our Annual Congregational Meeting on June 5 and the past few months have shown considerable growth. See the following charts for more information.
Please direct any questions to Stew Konzen (LT Financial Officer)
We are very grateful to God for the ongoing and increasing generosity of our congregation - thank you!
GIVING (INCOME) CHART
This chart shows our giving (income) year over year (YOY), highlighting the trailing twelve (TT) months versus the prior year's trailing twelve months. (Remember that our income is essentially synonymous with our giving.) What's very clear is that giving is up considerably this past year over the prior year. Note the orange downward trend line for the prior year compared to the green upward trendline for this year. Also notice the green curvy trendline and how it trends up in March, the last month on the chart. Note how during March of the prior year we trended downward in our giving.
Although our giving is up, we have increased ministry expenses this year especially due to having the full year impact of having Pastor Tim on our team. In general, we're spending more than last year. If you notice the big uptick in expenses in February and March don't be too concerned. They're mainly for planned insurance and benefit payments. In one case we had two monthly payments land in one calendar month. In the other, we paid a large annual insurance premium.
NET INCOME CHART
Our monthly net income or net loss is very seasonal, as you can see from the chart. Note that in March our net income is a loss for the month, but notice the uptick when compared to the prior year.
This chart shows that we've grown in our overall financial activity at both the income and expense level by about 20%. This is on the one hand because covid has allowed us to be more active, and because we actually ARE more active. Note that the overall income in the prior year was pretty small, and our projected overall loss is pretty small as well.