Leadership Board Update: Mid-Year Spotlight
We are on a journey together in faith!
It is important to be transparent and give a view behind the scenes at the financial picture and bring a few things to your attention. The mid-point of WMB’s fiscal year fell on January 31. In theory, if WMB’s income is at 50% of what was budgeted we can generally say that is a good thing. And God is indeed good.
A ‘deficit budget’ was presented and approved at last year’s AGM. A deficit means that expenses exceed income. This is not necessarily a bad thing to do as it helps to move projects and efforts forward using cash reserves from earlier years. Obviously, a planned deficit budget is the exception rather than the rule. Keep this in mind as you consider the following and think to the years ahead.
These graphs represent the various income segments:
This is the overall budget. At 53% income half-way through the year, this is certainly a praise point!
This captures the “daily living’ cost of WMB. Again, thanks to God, 57% is encouraging!
Although at 55% this fund for Outreach is actually tracking behind the amount usually received at this point in the year. You will be seeing and hearing more in the coming weeks about the Barnabas work and the impact on individual lives and communities.
This fund is earmarked for the church buildings. Needs are climbing as buildings and infrastructure ages. 15% received of the $180,000 that was budgeted and approved should catch your attention. Maybe you would consider giving an extra gift to this fund?
There are no concerns here as there are now no anticipated missions set to take place in this fiscal year.
Faithful giving sustains the ministry. Prayerfully consider your role. God is the ultimate provider, and we all seek to be good stewards who give of our time, talent, and treasure as He calls.
Watch for other Leadership Board updates in future e-news editions or in your inbox. Coming soon: The Discernment Committee, which represents the Membership, will be earnestly seeking members who might be considering a call to sit on the Leadership Board.
Please don’t hesitate to reach out to us at any time at leadershipboard@wmbchurch.ca if you have any questions, comments, or blessings to share.