July 2, 2020
As we enter into the second half of 2020, please know of our sincere gratitude to all of you who continue to partner with Central financially. By God’s grace and through your generosity, our financial condition continues to be relatively healthy in this season of pandemic uncertainty. On behalf of your Session and staff, thank you for making ministry possible at Central.
Through the end of June, giving year-to-date to the ministry budget is ~ $1,604,000 (actual). Our giving budget through the same period is ~ $1,746,000 (budgeted). We are lagging our budget for giving by ~ $142,000 at this point in the year.
On the expense side, we continue to operate in a “spending freeze.” We enacted this freeze when the pandemic began, which is allowing us to keep our ministry expenses at a minimum. June expense totals are still being processed, but we estimate that actual ministry expenses through June will be roughly $1,870,000 (actual) against a ministry expense budget of $2,058,110 (budgeted). We have underspent our ministry expense budget by ~ $188,110.
Looking at the net combination of giving and expenses, our actual giving through June ($1,604,000) is lagging our estimated actual expenses through the same period ($1,870,000) by roughly $264,000. This is not uncommon for this point in the ministry year, since we typically experience giving to be lower than expense rates in the first three quarters of the calendar year. The fourth quarter, especially December, is when giving typically exceeds expenses and catches the budget back up for the year.
This year, no secret to anyone, is a particularly unusual year and the months ahead have the potential for significant economic volatility for various reasons. The pandemic, an election in November, and other challenges make the next six months quiet unpredictable. For those of you who are able, please continue to partner with us financially – perhaps even in a special way this year. Your generosity is keeping our church stable and ministry-ready during this most unusual season. We are so grateful for your partnership in this way.