2020 Budget
Our church accountant, Catherine Cake, is ready to finalize the 2020 December Budget Report, as we don’t expect any major changes to what was reported in the January newsletter and then at the January 24th Congregational Meeting. Overall income for the year was at 89.7% of what had been budgeted, and overall expenses were at 89.6%, for a net gain of $933.36. The Board voted that after Catherine has made any final adjustments to the 2020 budget any overage will be transferred into the Capital Improvements fund. It should be noted, however, that although that fund might be increased by the $933.36 currently available, one reason expenses were down in 2020 was that $18,223 we had hoped to transfer to Capital Improvements in the original budget were not transferred in order to keep the budget from going into the red.
2021 Budget
The budget shown here in abbreviated form was approved at the January 24th Congregational Meeting. A number of budget items, in both income and expense categories, were modified from those in the 2021 Challenge Budget approved by the Congregation in early October. This was because of the pledge commitments falling just slightly below what we had hoped, the continued closure of the UCG campus due to Covid-19, and uncertainty as to when full operation of the Church would be possible again in 2021. One still unresolved issue is the Church’s property and liability insurance. The Operations line of the budget currently includes payment to a new carrier, Church Mutual. However, there are some gaps in coverage compared to our current policy, and whether these can be corrected at a somewhat higher cost, or whether we will revert to our old policy, will be determined in the coming weeks and, if necessary, a revised budget will be presented to Church Council and then the Congregation for approval.
Once again the Board thanks the members of the Enlistment Committee and all those members who were able to pledge for 2021 year, many at an increased level. We know that a number of church members were unable to pledge this year due to financial difficulties brought on by the Covid-19 pandemic, and remind anyone in need of financial assistance that several designated funds are available for that purpose and one of the ministers should be approached if financial help is needed.
Corona Contingency Fund
Last year the Board established the Corona Contingency Fund to provide money to members of the congregation adversely affected by the pandemic. It was suggested that those members receiving a stimulus payment that they did not need, as well others who supported this plan, might donate to the fund. Over $5000 has been donated, and a number of payments have been made from the fund to members of the congregation who have requested them. The Board suggests that with a second round of (lower) stimulus payments now arriving, anyone who would like to contribute again to the fund is certainly encouraged to do so.
PPP
At the October Congregational Meeting, a motion was made and approved to host seminars (or more accurately ‘listening sessions’) beginning in January 2021 to solicit member input on how the PPP loan funds should be used, including possibly returning some to the federal government, local outreach to the community and UCG members affected by COVID, and/or to further our UCG mission. Continued discussion at BoB meetings confirmed that BoB representatives would lead these listening sessions, giving UCG members more information about other churches’ use of PPP monies, and allowing members to express their concerns about the loan or their desires about how to use the monies.
However… as of now, the listening sessions are delayed until the church’s bank completes their portal for loan forgiveness and allows UCG to apply. Look for PPP updates in the March newsletter, and information regarding listening sessions in the weekly E-Vents communication.