Important Fall Financial Update
Important Fall Financial Update

Important Fall Financial Update

Oh give thanks to the Lord, for he is good.. Psalm 107:1

While Thanksgiving day has come and gone, giving thanks to God is something we should always be doing.

As a body of believers here at St Mark’s, we have much to be thankful for this fall. We have resumed regular worship on Sundays and Wednesdays. We have been blessed with Rob, our new minister. We were able to hire Ryan our new music director who is bringing new life to our Sunday music worship. Children and youth have returned to services and we have programs in place to help them grow in the love of Christ. Our fellowship after services and with special events have allowed us to get reacquainted.

We, your wardens, are especially grateful for all the ways in which you step up to provide St Mark’s with the time, talent and treasure we need.

This fall we feel it is our obligation to explain our present financial situation.

As of the end of September, St Mark’s Parish has spent $49,337 more than has been received through Offerings, Rents, Interest and Grants.

The General Bank Account on January 1, 2022 was $70,822 and the Building Reserve was $15,925. On September 30, 2022 the General Bank account is Negative $4,263 and the Building Reserve is $18,982. $30,000 invested with the Diocese in January has been redeemed at a $3000 loss, although some interest on this money is pending.

Year to date Envelope Receipts are $134,147, which is $41,000 less than the Budget passed by Vestry, but about the same as last year. [For reference, Envelope Receipts to September 2019 were $179,070.] Total Operating Revenue to date is $179,300. Total Operating Expenses to September this year are $235,646, $560 more than Budget and $47,300 more than last year. [For Reference Total Operating Expenses to this time in 2019 were $245,151.]

Most of the Parish expenses are relatively fixed and subject to the same inflationary pressures as for any household. In the budget process for 2023, expenses will be looked at in terms of reductions where feasible; however, each of us is asked to consider our offerings for the work of this church and if possible adjust them as our own income has changed.

We are also asking for you to consider pre-authorized giving. This gives us a better forecast for our finances, especially looking towards a 2023 budget.

We hope that you have a wonderful and blessed autumn season.

Neil, Christine, Sharon, and Cindy, Parish Wardens