On the financial front, Central continues to live into an important operational change with Jim McClure’s retirement beginning in early 2022. The Finance Committee, which had already been in existence for several years, expanded to allow for greater guidance and consultation to the church’s finance office, now under the leadership of Ann Hutson.
Members of the Finance Committee are Elizabeth (Liz) Iglesias, chair; Brenda Ames-Ledbetter, Bill Foxburrow, Jess Gardner, Ann Hutson, Andy Nagel, Ross Perkinson, and Jack Weber.
While the Finance Committee meets quarterly to review financial reports, to provide advice and feedback for the finance director and treasurer, it is Central’s Session that serves with fiduciary oversight of the church and is responsible for carrying out three primary duties in their roles: the Duty of Care, the Duty of Loyalty, and the Duty of Obedience (National Council of Nonprofits’ website, 2023).
According to the National Council of Nonprofits, the Duty of Care ensures the prudent use of the church and its assets to advance its mission. The Duty of Loyalty means that current Session elders are guaranteeing they put the best interest of Central before anything and that there aren’t conflicts of interest in the activities and transactions taking place. Finally, the Duty of Obedience confirms that the church follows all applicable laws, regulations, and its own bylaws.
Recently, during the church’s Community Huddle on February 26th, Liz provided a brief financial overview to the congregation. Last July, the church budget was set with a goal of $1,957,000, which was intended to cover the cost of the future senior pastor as well as the current staff, programs, and mission expenditures.
For the first half of the fiscal year (July – December), the church has received offerings of $1,037,000 which is 4% more than the same period last year. While this is very encouraging, it is a bit short of the overall goal. At this point, it is projected that the church will end the fiscal year with $1,880,000 of offering, approximately $80,000 less than what we were planning.
The “good” news is that our expenses are also projected to be less than we were planning, mainly because we haven’t started paying a new senior pastor. While this is not precisely the way we envisioned toeing the budget line, we’re also convinced that God’s timing is impeccable and that He will supply all that we need.
One way you might help is, if every giving unit, that is households, were to give an additional $320 between now and the end of June, we would meet our budget needs. Learn more about ways to give.
Thank you all for entrusting Central with your gifts. We are all grateful to God for giving us the opportunity to join in moving people, ourselves included, closer to Christ.