1. 2 nd Qtr 2010- Treasurer’s Report 1.Initiative Update 2.Financial Report 3.Looking Ahead "If you have not been trustworthy in handling worldly wealth, who will trust you with true riches?" -Luke 16:11

2. 1. INITIATIVE UPDATE

3. 2010 Initiatives – Update Transparency & Accountability  Audit  Money Received  RFP sent, responses received  Initial recommendations  Payroll Process Review  Internal Controls Review  Restricted/Designated Funds Review  Worship Folder Information  Web Site information  Fiscal Year Change from calendar year to programming year  IT Taskforce formed

4. 2010 Initiatives – Prayer & Stewardship  Seek God’s will for Central’s finances through prayer.  Model Stewardship.  Work towards Contingency and Maintenance Fund  Maintain Loan retirement momentum  Control Expenses  Expense reductions (implemented effective June 1st)  $50k Budget cuts + $25k designated giving to offset expenses  Staffing, Ministry Budgets, Staff Resources, Marketing, etc.  Asset Sale Committee- Report  Received market analysis on land and are holding the recommendation to sell for future consideration.  Approved sale of misc. smaller church assets to raise funds for unplanned maintenance.

5. 2. FINANCIAL REPORT

6. Ministry Giving

7. Missions Giving

8. Go Farther Giving

9. Ministry Expenses

10. Cash Balance

11. 3 rd Quarter Projected Balance

12. 3. LOOKING AHEAD

13. Challenges  General Ministry Giving weak in 2 nd qtr. and expenses are largely fixed.  Cash balance does not support monthly losses for any extended length of time.  We continue to encounter additional unbudgeted expenses  Sunday Morning Pulpit Supply  Building and System Maintenance  Staff transition costs  Worship Arts equipment  Youth Ministry Hours  Building Principle (Chose not to recalculate loan)

14. Solutions!  Follow God! Prayerfully seek God’s will for Central  Reduce the focus on operating a church and refocus on being a church.  Focus on funding initiatives that directly impact lives for Christ  Great Commission and Great Commandment  God will provide and bless us when we pursue his will  Luke 16:11: If you have not been trustworthy in handling worldly wealth, who will trust you with true riches?” Return on Investment: By focusing on our purpose, Central Baptist can become the best spiritual investment people can make!