Presentation on theme: "2013 State of the Church Meeting 教會近況座談會 CBCGL 2013 Financial Report."— Presentation transcript:
2013 State of the Church Meeting 教會近況座談會 CBCGL 2013 Financial Report
2012 was a year of abundant grace in that CBCGL’s many active ministries were generously supported by the congregation, leaving a tidy surplus of $72,067 We generally met our goals: –Good stewardship of God-provided resources –Improve accountability of coworkers in different ministries with respect to purposes and uses of Church resources for various programs/events/activities –Increase transparency of CBCGL’s financial condition to Church Council and the congregation Continue to focus on educating and working with deacons and the congregations to “do the right things” to comply with tax laws. A workshop on Giving Strategies was conducted to help church members maximize the impact of their offerings. This is particularly important as the Church considers renovating existing facilities or constructing new facilities, either of which will require significant tithing from church members to fund CBCGL’s capital improvements.
2012 Results and Cash Income 2012 Budget was $950,000, including General Fund, Mission Fund and other income Actual results in 2012: –Total receipts: $958,041 –Total expenses: $885,975 –Surplus was due to higher income and lower expenses –Sunday offerings were $2,112 less than in 2011, offset by a big increase in miscellaneous income ($41k) –Expenditures were $11k lower due to 1 less pastor and savings on insurance premium 2012 Cash Income $ 838,041 Sunday Offering $ 690,83282.43% Rental Income $ 10,3301.23% Miscellaneous Income $ 136,88016.33% ****** Sunday offering - Mission $ 80,3669.59% Miscellaneous - Retreat $ 66,8627.98%
2012 CBCGL Cash Expenses $765,975 Payroll - all staff $ 380,168.0049.63% Building Expense $ 105,770.0013.81% Mandarin Ministry $ 66,952.008.74% Youth Ministry $ 51,015.006.66% Office $ 14,771.001.93% Worship $ 11,718.001.53% Children Ministry & Nursery $ 9,454.001.23% Treasury $ 4,640.000.61% English Ministry $ 2,515.000.33% General Service $ 2,248.000.29% Cantonese Ministry $ 1,667.000.22% Local Mission $ 1,280.000.17%
2013 Budget 2013 Budget is $935,300. This is lower than the 2012 budget of $950,000 because more ministry expenses are expected to be funded by fees. Inflation and weak economy will present more challenges for the Church’s ministries, requiring all of us to be better stewards of God’s resources CBCGL continues to encourage charging registration fees for activities supported by various ministries. Tithing income will be used to support the Church’s payroll, building expenses and other core ministries. As there will be record numbers of STM participants and possibly retreat participants, self-funding becomes increasing important to ensure that the Mission Fund will have sufficient resources to support missionaries in the field. Fund-raising activities need to be more strategic and less frequent. Believers supporting God-honoring ministries should avoid seeking bargains/material goods or services in return. The budget includes $50,000 to fund the retention of professionals to assess and recommend the best capital improvement options for the Church.
State of CBCGL’s financial condition The Church’s financials are solid thanks to God’s providence and the good stewardship of Council and coworkers of all ministries A lot of the surplus could be attributed to deferred maintenance, pending decision on capital plan Currently, the Church has >$600k in the General Fund and other Funds and >$110k in the Mission Fund, earning 0.25% or less Resources provided by God need to be used strategically for His Kingdom. Should we continue to pay big repair bills while earning $1,500 from our bank account for the General and other fund reserves?