It’s Been a Crazy Year! -or- How Are We Doing Financially?

This has been an odd year.  Because of tax law changes, more people prepaid their pledges than in any recent year.  At the end of 2017, we had received $51,336 in prepaid pledges.  In past years, that number has varied from $8,000 to 12,000.  What a difference!  That makes predicting the flow of offering income for the rest of the year much more of a guessing game, and makes it harder to judge whether we are on track for income for the year.  It’s a real roller coaster ride!

So what do we know at this point?  Our offering income is about $18,000 below our best guess forecast, but still about $60,000 more than at the end of May last year.  Our expenses at this point are also lower than we had anticipated at this point in the year.  We have an excellent balance in our Operating account going into the summer months.

However, we do expect our total expenses for the year will rise to meet the amount we budgeted.  Many of the lower expenses are a result of timing.  They’re coming a little later in the year than we had anticipated.  That means we will need continued faithful giving in order to meet our goals at the end of the year.

Summer is often a time of relaxation, vacations, and weekends away from home.  Because of that, churches usually see income decline in the summer.  We see that at Gloria Dei, too, even though many people use electronic giving.  So, as a summer reminder, whether you’re using the Simply Giving program or not, join us in worship as your schedule permits.  We miss you when you are not here!

By mid-July, you should receive a statement showing your contributions for the first six months of the year.  That will let you know where you are in terms of your personal giving and commitment.  Let’s all work together to bring this roller coaster ride to a safe stop at the end of the year.

Do you want to talk more about this?  Contact Jeanne Hanson. Our financial records are always open to congregation members, and summaries are given monthly in the Guide newsletter.