2 nd Qtr 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

1. INITIATIVE UPDATE

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

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.

2. FINANCIAL REPORT

Ministry Giving

Missions Giving

Go Farther Giving

Ministry Expenses

Cash Balance

3 rd Quarter Projected Balance

3. LOOKING AHEAD

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)

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!