As you can see from the picture above, this move will lower Cooperative Program and local missions giving as it is a percentage of the overall receipts.
Under personnel, you’ll see a decrease in salaries and retirement but an increase in insurance/taxes. The increase is due to elevated costs in medical insurance. Changes in staffing account for the decrease in salaries. We also made cuts to staff benefits like end of year bonuses and no staff received a raise
We have removed the position of church secretary from our annual budget. Removing this staff position was handled by the pastoral team as they function as the personnel team in our constitution and by-laws (article II, section II). This was a difficult decision and any questions regarding this change can be directed to me or members of our pastoral team.
Under ministries, there has been a $17,560 decrease. While we hate to decrease ministry spending, it was necessary given the elevated costs in insurance coverage and decreased giving. We have also recommended a $6,000 decrease in our educational expenses.
While operational expenses are generally pretty fixed, we were able to save $13,982. Decreased use of our facilities and lower energy costs created savings on utilities and general campus maintenance. This helps cover the increased costs in building/auto insurance. We will shop our insurance providers to see about additional savings.
Debt retirement and capital improvement line items have remained the same. We will pay off our FFB loan using cash reserves from the forgiven PPP loan. However, we plan to leave the line item for opportunities of future growth.
These budget cuts were not easy to make. However, we are moving forward with confidence in the Lord and hope for the future. Even though COVID-19 and our national response to it have brought many negatives, it has also reminded us that our ultimate security is in the Lord! We will move forward with a renewed dependency on Him and His will for our church.
Thank you for your careful consideration of these things. We will vote on the 2021 budget on the last Sunday of this year.
If you have any questions or feedback, please reach out to myself or a member of our finance team. (Howard Thompson, Jayce Barbee, Georgia Hamilton, Justin Edmunds, Armando Oakes)
If you have questions related to personnel changes, please contact myself or a member of our pastoral team. (James Parker, Darrell Scott, Wes Terry, Vernon Ferguson, Randy Voorhees)
Until He Comes,