The vestry approved the 2021 budget in February. In order to provide some insight into the process, a brief overview follows.
Each year following the stewardship campaign, the finance committee gathers to draft a budget. Pledges make up roughly 85% of the church’s revenue and are the foundation of the budget and guide the entire process. An additional 15% of projected revenue is generated from non-pledge contributions (contributions from individuals that have not made a pledge) and other income.
Once the committee has a handle on the expected revenue for the year, funds are allocated to the various expenses that fund the ministries and operations of the church. Payroll and benefits for clergy and staff make up the largest category of expenses at 60%. Our annual pledge to the Diocese of Atlanta equals 12% of this year’s expenses. Expenses for children’s and youth formation, missions and outreach, the altar guild, cleaning, grounds and maintenance, professional fees, etc. round out the remainder of the budget.
After the finance committee has drafted the budget, it is presented to the vestry for final approval. This year we budgeted $430,000 in revenue and expenses of $546,000, resulting in a deficit budget. While this is not ideal, we are blessed that there has been a concerted effort over the last few years to build a healthy cash reserve that will allow us fund the deficit for 2021, while continuing to steward our resources in service to God and our neighbors.
