On Wednesday, June 17, we hosted a webinar to provide details on our FY21 budget (our in-person annual congregational meeting to elect leaders will take place in September). Please see below to answers from questions that were asked from the meeting. Full budget details are available in Connect, our membership hub. You can log in here to access the details.
What is included in the Community section of the budget?
Our Community budget area includes everything from Children’s Ministry, Student Ministry, College and Young Adult Ministry, to Adult Formation (adult ed classes), Senior Saints, Care Ministry, and other similar ministry programs.
What is included in the Missions section of the budget? Does that include local and global missions?
The Missions category includes both local and global ministry partners. We have a variety of categories within that: local mercy ministry, local church planting, global mercy ministry, global church planting.
What is included in the Ministry Support section of the budget?
The Ministry Support section includes all the administrative aspects of keeping the lights on, keeping in touch with our congregation, and keeping our church running smoothly. This includes Communications, Facilities, Finance, and other administrative aspects.
How is our Fairfax site represented in the budget?
Fairfax expenses are all incorporated into the general fund budget. There are Fairfax expenditures related to all areas of the budget (Worship, Community, Missions, Staffing, etc.), so it’s all represented in the relevant areas of our budget. This budget year we will keep on keeping on with all the work we’ve been doing at our Fairfax site.
Have we had to lay off any staff due to COVID-19?
Fortunately, due to your generosity, we have been blessed with healthy financial standing and have not needed to lay off any staff. When we adjusted our budget this spring, we made staff a priority. We paid all of our staff through contracted dates, including our hourly employees (ex: child care and facility staff) who were unable to work due to the closure of our building. Since church life looks different in this season, we reassigned tasks throughout our staff teams and reallocated hours as necessary.
What are the benchmarks for the contingent spending?
We established three benchmarks, parameters in which the stewardship committee would be able to increase the budget, for this fiscal year. The first benchmark is based on current year annual income, for which the target is $5,878,960. If our income for the current year exceeds our target income, the stewardship committee will be authorized to increase the budget for next year by up to the surplus. The second benchmark comes after the first quarter of fiscal year 2021 (giving would need to exceed $1.275 million plus 20% of any increase at the first benchmark), with the following benchmark on December 31 (giving would need to exceed $3.475 million plus 60% of any increase at the first benchmark).
What are the priorities for spending, should the additional funds become available?
In the event that the Stewardship Committee is able to increase the budget based on a surplus, the Session and other church leaders would discuss priorities. We’ve identified staffing and missions as first priorities, but the committee and other leaders would evaluate these needs holistically and decide where budget increases would make the most sense for the current situation.
What’s the contingency plan if we drop below our income?
Praise God, our income is healthy and strong at this point. If we dropped below our target income, we would seek to absorb a deficit. We would also start discussions immediately about how to further restrain any spending.
Will James’ resignation change our budget?
Our Stewardship Committee and our elders are looking closely at our budget as we enter a season of transition to see what the effects may be and any next steps, adjustments, or additional costs that may be necessary. We will keep you updated on significant changes.
Are we currently carrying any debt?
We are not currently carrying any debt. We have a line of credit, but have not drawn on it and have no debt on our building.
What are the deciding factors for starting the building campaign again?
Due to the uncertainty brought about by COVID-19, we have put our building and generosity campaign on hold until 2021 in order to focus on the efforts of making disciples in this season. The “Making a Difference” committee, which includes elected leaders and several members in relevant industries, are working throughout the summer to determine the criteria we would use to restart this campaign.
Are we considering continuing any of the new things we’ve done during online worship when we start in-person worship again?
Yes! Our Worship team has worked hard to enhance the online worship experience during this season. That same team will continue working with pastors to figure out what we may take forward even when we’re back to our steady state of operations. During Phase 2 we’ll be in a hybrid worship model – online and in person. It’s very important to us that while we begin to create a safe in person worship experience, we maintain a great online experience for those unable to join us yet. As we move forward, we hope to take advantage of the great technology that God has given us to worship and connect with missions partners in creative ways.<< Back to All Updates