A Letter from our Treasurer, Judy Speas
Dear Church Family,
As Church Treasurer and on behalf of the Deacons, I am pleased to report that we ended the 2010-2011 fiscal year with a financial surplus. Our contributions exceeded the targeted giving by $2,800, thanks to your generous donations. In addition, due to prudent and sacrificial financial management of our staff and ministry team our income exceeded actual expenses by approximately 7%. Let us praise God together for this encouraging news!
At their August meeting, the Deacons approved the recommendations of the Budget Team with regard to allocation of this surplus. The actions are as follows:
- Contribute to the Missions Special Project Fund to achieve 11% of contributions directed to Missions. At the end of the fiscal year, the Mission portion was 10.0%.
- Contribute the unused projector replacement budget from 2009-10 into the recently Deacon-approved Projection Fund.
- Provide a one-time 5% salary bonus to all CHBC staff members employed for the entire fiscal year. The staff has made numerous sacrifices over the past several years and we are pleased to provide this tangible gift of appreciation for their hard work.
- Contribute to the recently Deacon-approved Office Equipment Fund to allow for the purchase of replacement office equipment rather than leasing.
- Contribute to the Facility Reserve Fund to cover known parking lot repairs currently in progress and to increase the balance of the fund.
- Allow the remainder to increase cash reserve to use for unforeseen and unbudgeted operational expenses.
Our God has provided abundantly for us. Thank you for your faithful financial support, and thank you to all ministry teams and staff members for their responsible stewardship. As leaders, we remain committed to wise management of all of our church’s financial, material and human resources.
Our new fiscal year began on July 1, 2011 and our new ministry year kicks off in a week. We look forward to seeing how God works in our lives individually and through our church corporately as we influence our neighbors, our community and our world with the gospel. Thank you once again for your commitment to Christ and to this church.
In Christ,
Judy Speas
Treasurer