December 10, 2003

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2004 Budget Review

• December 10, 2003

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Weekly Attendance 1992-2003 (Average figures)
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Annual Givings to General Fund (Amts in 000s)
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Study of 2002 Givings of Envelopes by category
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Study of 2002 GivingsTotal Offering by
category-845,000
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Debt Servicing 7 Years
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Debt Servicing (Contd)
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2004 Budget Principles for Preparation

• Combines previously separate general fund and
  building (capital) funds
• All teams and staff were limited to no more than
  3 increase from prior year
• Teams that had major portion of budget met with
  Stewardship team to review and discuss content of
  their budget
• Session reviewed detailed budget and approved

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2004 Budget Principles for Preparation (Contd)

• To Nov 03
• 2003 vs 2002 revenues grew by 8.8 to 1,057,000
• Receipts over operating expenses by 64,000
• Operating Expenses are 34,000 below budget
• Operating Expenses up by 13
• Capital Expenditures to date of 60,000 vs Budget
  of 115,000
• Series A Bonds retired - 46,000 in repayments
• Cash decrease approx. 40,000 from balance at
  beginning of year of 180,000
• Teams managed their budgets well during 2003

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2003 Budget Principles for Preparation(Contd)

• Budget 2004
• Total Budget up by 2.5 over previous year budget
• Staff Costs up 4.7 reflects 3 wage increase,
  increase in Medical/Dental and National Church
  minimums for Ordained Ministers
• Presbytery Synod dues increased 13
• Program costs to increase 25 of previous year
  budget (20k Contingency and 15k Consulting)
• Interest costs to decrease 20 from previous year
  budget, 20k due to debt repayment during 2003
• Property and Liability Insurance increased by 42
• Deferral of Out building Capital Exp. During
  year

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Breakdown of Budget 1,426,095
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Thank you for your support!