2017 Budget Overview

To strengthen our financial stewardship of the gifts you share with Trinity, the Vestry and Finance Committee took the following steps:

  • Shifted the budget cycle to run from January 1 to December 31.  This aligns with how most of us plan our pledges and donations to the church.  The church’s fiscal year remains the same, running from July 1 to June 30, as does that of Trinity School.  This allows us to combine our audits and reduce double work and expense.
  • Established a Budget Subcommittee to closely review each income and expense category and develop the preliminary 2017 budget.

The Budget Subcommittee worked with the Stewardship Committee, Development Director and Chief Financial Officer to estimate pledges and other sources of funds.  Because most of you turned in your pledges by mid-December, there was much better information and much less guesswork involved in projecting income.  Thank you.

On the expense side, members of the subcommittee met with clergy, department heads and ministry leaders to develop a good understanding of critical needs, as well as where there might be opportunities for belt-tightening.   

The Vestry approved a balanced budget that provides the following:

  • Maintenance of staff at current levels to ensure we can fulfill our mission
  • Partial reinstatement of grants from the Vincent Memorial Legacy
  • Maintenance of the $24k allocation to Hope House for Direct Services
  • Paying down of the debt: long term by $37k; short term by $77k

For more specific information, please review the budget summary available below.  Treasurer Keith Crawford will review the church’s financial position at our annual meeting May 7.  If you have questions before then, feel free to contact him at klc@loftingroup.com or Barbara Waller at barbara.waller@laitram.com.

Links:
2017 Budget

Audited Church Financials

 

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