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St. Columba’s Church Charting a New Course A Look at Our Financial Picture April 22, 2008

St. Columba’s Church Charting a New Course A Look at Our Financial Picture April 22, 2008. Membership Trends 1996 – 2007. Membership numbers per the Annual Parochial Report Attendance figures per parish records. Attendance Trends By Service 2003 - 2007.

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St. Columba’s Church Charting a New Course A Look at Our Financial Picture April 22, 2008

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  1. St. Columba’s ChurchCharting a New CourseA Look at Our Financial PictureApril 22, 2008

  2. Membership Trends 1996 – 2007 Membership numbers per the Annual Parochial Report Attendance figures per parish records

  3. Attendance TrendsBy Service 2003 - 2007

  4. Net Income Trends 1996 – 2007, 2008 Budget($ in 000s) Years with Special Ask Cumulative Deficit at End of 2007 was $126K

  5. 2008 Operating BudgetAs Approved by the Vestry on March 31, 2008($000s) Act 07 Bud 08 Inc/(Dec) %Variance Pledges $2,499 $2,280 ($219) (9%) Plate Revenue 133 135 2 2% Other Revenue 215 229 14(13%) Total Revenue 2,847 2,644 (203) (7%) Salaries, Wages, Benefits 1,564 1,694 129 8% Facilities and Utilities 640 417 (223) (35%) General & Administrative 154 142 (12) (8%) Diocesan Commitment 190 176 (14) (7%) Outreach Commitment 180 101 (79) (44%) Program Commitment 201114(87)(44%) Total Expenses 2,930 2,644 (286) (10%) Income from Operations ($83) $0$83

  6. Giving Trends As of April 14: 2004 - 2008($ in 000s)

  7. Giving OverviewNumber of Pledges by Giving Range2006 - 2008 Total Number of Pledges 2006 (year end) 901 2007 (year end) 868 2008 (as of April 14) 768

  8. Giving OverviewTotal $ Pledged by Giving Range2006 - 2008 Total $ Value of Pledges 2006 (year end) $ 2,219,007 2007 (year end) $ 2,499,237 2008 (as of April 14) $ 2,095,117

  9. Operating Expense Trends For the Periods Indicated($ in 000s) 7.5% Average Annual Expense Growth 2002-2007

  10. Operating Expense Trend Details For the Periods Indicated($ in 000s)

  11. Personnel CostsHow Many People Work Here? * Represents approximately 23 FTEs

  12. Outreach2008 Source of Funds($ in 000s)

  13. Outreach2008 Uses of Funds Mission & Ministry $158K STEP Operations $233K STEP Scholarships $300K Total $691K Note: These figures do not include salary expenses for clergy & staff who support outreach

  14. Outreach Expenses in the Operating Budget For the Periods Indicated($ in 000s)

  15. Outreach Percentages For the Periods Indicated($ in 000s)

  16. Columba Fund Activity since its inception in 2000: #$ Inreach Grants 19 $387K Outreach Grants 23367K Total 43 $754K Amount remaining as of March 31, 2008 = $206K (includes grant commitments made by the Vestry but not yet disbursed)

  17. Cash Flow ConsiderationsNet Income by Month

  18. Cash Flow Considerations • Cash flow is controlled through deferral of paying certain expenditures until December (notably the Diocesan commitment and the funding of outreach) • To meet cash requirements in late summer and early fall, for many years the Vestry has authorized a resolution to borrow from the Memorial Fund with the stipulation that those funds be repaid by the end of the year. • The corpus of the Memorial Fund, by restriction, can be borrowed against “when it is necessary to cover emergency operating fund shortages.”

  19. Questions Questions, comments, concerns? Please contact: Janet Vincent jvincent@columba.org Rector Andrew Hullinger ajhullinger@starpower.net Treasurer Jim Sivon jsivon@barnett-sivon.com Sr. Warden Kathleen Stanley kjstanley@aol.com Jr. Warden Paul Barkett pbarkett@columba.org COO

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