F IRST B APTIST C HURCH 2014 E ND OF Y EAR REPORT B UDGET Presented by: Tim Sevick Stewardship/Finance Ministry Team January 14, 2015

T EAM M EMBERS 2015 Becky Jo Clark Jim Nickless Jerry Trapnell 2016 Lana Todd Tim Sevick* Ralph Herden Rusty Brock (Minister Rep) Bill Lanham (Treasurer) Kelly Durham (Assistant Treasurer) *2015 Chairman

P URPOSE To provide the Congregation with a quick review of income and expense for 2014.

W E ARE GOING TO LOOK AT 1 Actual general income vs budgeted income. 2. Actual spending vs budget. 3. Building fund contributions and payments. 4. Designated funds income. 5. Total Funds but not all

GENERAL MINISTRY CONTRBUTIONS AND REVENUES, Actual 2014 Budget Revenues 2014 Budget Ministry Budget Contributions $1,047,615 $1,084,532 Building Fund Giving $111,480 payment $106,225 Revenues: church suppers, Youth Mission parking, building use, etc. $67,505 $74, Total Giving and Revenues (Not including additional designated Funds) $1,226,600 Income $38,506 less than Budget $1,265,106

L OAN PAYMENT We are required to make 4 payments totaling approximately $167, per year. A portion, about $61, is interest paid out of the ministry fund. The principal, approximately $106, is paid out of the building fund. Because the interest was less than expected, a larger amount of the payment went to principal. Difference between $111,479 and $106,224.00

2014 S PENDING VS B UDGET Mission Area2014 Budget2014 Spent Administration$467,003.00$442, Education$ 68,450.00$ 66, Fellowship$ 37,550.00$ 36, Missions & Evangelism $ 42,355.00$ 39, Personnel Services $622,596.00$604, Worship $18,500.00$ 18, Strategic Plan Implementation $ $ Total: $1,265,107.00$1, * SpendingLess than Budget by $57,438.00

R ESULT Revenue low by$38, But spending low$57, So positive ending balance $15,543.00

Original Loan Balance on New Building and Renovations $4,472,938 Mortgage balance at January 1, ,929,194 Mortgage payments as included in the 2014 FBCC Budget $111,479 Designated Fund contributions to the building fund applied to principal $77,500 Total payments on Building Loan 188,979 Mortgage balance at December 31, ,740,214

B UILDING F UND P AYMENT S TATUS YearPrincipalInterestBalance 2007 $892,040$256,953$3,580, $289,162$198,421$3,291, $293,267$194,225$2,998, $367,472$172,257$2,630, $294,224$150,696$2,336, $208,286$135,820$2,128, $199,283$ 86,670$1,929, * $188,979$ 56,393$1,740, , our loan minimum of $167, ($111, principal & $56, interest)

2014 D ESIGNATED F UND S UMMARY FundRevenue Beginning Balance$ 77, Local Missions$ 10, Foreign Missions$ 47, Mission Groups$ Youth, Senior, Single & Student$ 39, Committee/Group$ Music$ 12, Other$ 37, Special Offerings$ 24, Building Fund Principal$187, $378, Total: ($378, $187,918.09)$190, Expenses:$175, Balance:$ 92,000.53

T OTAL I DENTIFIED C ONTRIBUTIONS Ministry Giving$1,047, Building Fund $ 187, Designated Funds $ 190, Total $1,425,741.35

2015 N EEDS Need to concentrate on General Ministry and Building Funds offerings. We will be identifying some Paid in Full activities to get the loan paid off.

Thank You Input?