Q1 2023 Finance Update
The following is from Lee Bowman, finance chairperson for The Local Church. With questions or for more information, email Lee here.
The start of 2023 has been awesome for The Local Church. Revenues for the first quarter are ahead of the budget by almost $63K. (Note: January revenues are generally much higher due to some yearly pledges being paid in full.) We anticipate this will even out as the year continues.
Costs were also better than budgeted for the first quarter of the year. At the first of the year, The Ministry Table (church council) allocated some funds to be spent on enhancements to the worship service (e.g., in-ear monitors for the worship team, a new trailer for equipment storage, etc.). While these expenses were unbudgeted, monies from reserve accounts were allocated to cover the costs.
The Ministry Table will continue to diligently review and better project the financial needs of The Local Church. In the second quarter of the year, it will focus on staffing needs and compensation and initiate discussions regarding future facility needs along with timing while being mindful of those fiscal implications.
Your generous financial support continues to be vital in co-creating a bold, inclusive faith community with and for one another, our community, and all creation. We are grateful for your incredible generosity and the ways God is working in and through you.
