We just wrapped up the 2022 Budget Year, making this a good time to summarize the final figures from 2022 and to share what makes up our annual operating budget.
Our annual budget includes the receipt sources and expenses as outlined in the chart below. Each year, the finance committee prepares a proposed budget using historical receipt data as a means of projecting receipts for the coming year along with the budget requests from each committee. Our goal is a balanced budget, meaning we don’t want expenses to be higher than expected receipts. This task is not taken lightly. There are many large fixed expenses that, when balanced against our budgeted receipts, make up the bulk of our church budget. At the same time, we know that to do God’s work and “Be the Church,” we need to provide adequate funding to our various ministries. Once the finance committee approves the proposed budget, it is presented to the Administrative (aka Church) Council for discussion and approval. It is anticipated that the 2023 budget will be adopted at the February Church Council meeting.
| 2022 Budget | 2022 Actual | Over or (Under) Budget | |
|---|---|---|---|
| Total Expenses | 279,196.04 | 292,015.84 | 12,919.80 |
| Total Receipts | 279,216.00 | 291,073.81 | 11,857.81 |
| Overage (Deficit) | 19.96 | (942.03) |
The table above shows the budget and actual expenses and receipts for 2022. As you can see, expenses were much higher than budgeted. Multiple unexpected repairs to the boiler, as well as high gas utility bills, are responsible for the overages. Through your generosity, giving was higher than budgeted, allowing us to finish the year with just a slight deficit of $942.03.
The most noteworthy thing in 2022, was paying off the loan on the 2014 sanctuary renovation. The renovation and loan were paid for outside of the church’s operating budget, being funded by the remainder of the Patton Memorial Fund, congregational pledges and donations, soup and hummus sales, and again through congregational donations that helped us raise the final $5,000.
As your church treasurer, I want to thank you for faithful support of the ministries of Sewickley UMC! If you have any questions concerning the church finances, please feel free to ask me. The Financial Committee meets the second Monday of every month, and members of the church are welcome to attend as well.
Blessings,
Pam Honeychurch