by Jim Sanders, Outgoing Chair, Finance Committee

After a wonderful review of our congregation’s year by Reverend Kim at the Annual Meeting on June 2, we presented, and the congregation overwhelmingly approved, our Church’s budget for the new year that begins July 1, 2024.

The continuing good fiscal health of the congregation and our prudence in carrying a cash reserve will give us the ability to cover a small budget deficit. This enables us to fully fund our Staff, our Operations, our Programming, our Denomination, and our debt service.

With a construction budget projected to come in “on time and within budget,” and with the success of our Capital Campaign’s Phase 3, we can “possibly” have NO ADDED debt in the coming year. Of course, we were reminded that we will need to borrow against future pledge payments, and our Treasurer, our Capital Team, and Finance have suggested that accelerated payments of pledges AND borrowing from our cash reserves can eliminate part if not all of any added debt.

With a possible reduction in debt service (we budgeted to have added debt) along with the hiring of our new staff person (with a clearer understanding of health insurance needs), the budgeted deficit could be reduced.

Thank you to everyone who provided budget numbers, to those who came out to the highly popular budget meeting and, of course, for all your positive support at the Annual Meeting. The Board, our Treasurer Denny Rodgers, and the entire Finance Team thank you.

Questions? Email me at finance@uucwc.org. I would be happy to talk anytime.

In faith and service,

Jim