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The Finance Committee meets each month on the 2nd Wednesday of the month. The committee is made up of:
Marty Gallagher, Chairman
David Nowland, Stewardship Member
Eric Gibson, Member
Mark Lovdjeff, Member
Michael Hitchingham, Member
Sue Gearica, Finance Manager
FINANCE REPORT
The Finance Committee continues to meet monthly throughout the year to review the financial statements, cash flow, special expenditure requests, and communication between Stewardship, Staff, and Church Council.
The success of the pledge drive for 2024, Stewardship Entertaining Angels allowed the budget to give significant salary increases for all of staff. It also provided additional insurance coverage for qualifying employees. As offerings are received in 2024, we will collaborate with the Church Council and Stewardship committee for disbursement of funds for the 3 goals for 2024.
Sunday morning offerings have been lower than previous years, however, the electronic giving of checks or Tithely online has increased to over 65% of General Fund offerings. Black boxes located outside both Worship Center doors are available for depositing envelopes, checks, or cash.
The Finance Committee reviews the upcoming capital expenditures twice a year in conjunction with the Building and Grounds Chairperson, Dave Bowman. Projects completed in 2023 were Parking Lot drainage and asphalt issues.
We received a portion of the anticipated Employee Retention Credit, $22,702.00.
The purchase of new drum set was completed before Christmas.
Gifts of stock have been received and are held at our broker earning dividends and other interest income.
The Finance Committee continues to watch our General Fund expense and Capital expense reserves.
Beginning January, 2024, we have moved to a calendar year fiscal year in order to keep a better comparison of pledged offerings and actual offerings received. This will allow us to calculate better metrics of growth or changes in giving. A special thanks to the Counting Ministry team who serves faithfully counting the offerings each month.
The Finance Committee extends their thankfulness to those who continue to give to the Joy! mission with their gifts of generosity, many above and beyond their annual pledge. Your timely gifts allow a steady cash flow in order to pay the hills and valleys of expenses.
Thank you, Joy! for your continued generosity.
The Finance Committee
Marty Gallagher, Chairman
David Nowland, Stewardship Member
Eric Gibson, Member
Mark Lovdjeff, Member
Michael Hitchingham, Member
Sue Gearica, Finance Manager
FINANCE REPORT
The Finance Committee continues to meet monthly throughout the year to review the financial statements, cash flow, special expenditure requests, and communication between Stewardship, Staff, and Church Council.
The success of the pledge drive for 2024, Stewardship Entertaining Angels allowed the budget to give significant salary increases for all of staff. It also provided additional insurance coverage for qualifying employees. As offerings are received in 2024, we will collaborate with the Church Council and Stewardship committee for disbursement of funds for the 3 goals for 2024.
Sunday morning offerings have been lower than previous years, however, the electronic giving of checks or Tithely online has increased to over 65% of General Fund offerings. Black boxes located outside both Worship Center doors are available for depositing envelopes, checks, or cash.
The Finance Committee reviews the upcoming capital expenditures twice a year in conjunction with the Building and Grounds Chairperson, Dave Bowman. Projects completed in 2023 were Parking Lot drainage and asphalt issues.
We received a portion of the anticipated Employee Retention Credit, $22,702.00.
The purchase of new drum set was completed before Christmas.
Gifts of stock have been received and are held at our broker earning dividends and other interest income.
The Finance Committee continues to watch our General Fund expense and Capital expense reserves.
Beginning January, 2024, we have moved to a calendar year fiscal year in order to keep a better comparison of pledged offerings and actual offerings received. This will allow us to calculate better metrics of growth or changes in giving. A special thanks to the Counting Ministry team who serves faithfully counting the offerings each month.
The Finance Committee extends their thankfulness to those who continue to give to the Joy! mission with their gifts of generosity, many above and beyond their annual pledge. Your timely gifts allow a steady cash flow in order to pay the hills and valleys of expenses.
Thank you, Joy! for your continued generosity.
The Finance Committee
