The committee met regularly throughout the year despite the pandemic. It was vital that the committee keep track of the church finances, especially in this unique year. Needless to say, our meetings have been on Zoom since March.
In the first quarter, we managed the types of financial issues that come up every year. The committee always reviewed the budget (voted in at last year’s annual meeting) and compared it to actual expenditures. By doing this each month we can follow the finances and be on top of potential difficulties before they get out of hand. In the first quarter of 2020, we considered items that we would work on throughout the year (a normal one that is). We talked about the need for funding a new sign, issues related to the road work in the front of the church, fundraising events, and moving to have co-financial secretaries.
During the final three quarters, our agenda was largely driven by the pandemic.
- Throughout the year people kept up with their pledges which has been a blessing.
- We received a PPP grant which offset the income we lost due to no rentals and no fundraisers. Receiving the grant meant we did not have to draw any money from the endowment which had been in the budget.
- Expenses have decreased given the change in the use of the building. Increases in expenses were related to the purchase of video equipment and a change with our payroll company so Diane and Cindy could do financial work from home.
Every meeting we considered the pandemic and the need to consider the financial impact of virtual services. The committee felt it was important to purchase the equipment we would need to continue virtual services even when we can allow small groups in the church.
In the final quarter, the committee worked on the budget for 2021. Members and friends continue with their generous pledges that allow us to cover the expenses. It is your generosity that makes it possible for us to come up with a balanced budget. If we are not able to do fundraisers and rent the building as we have in the past, we are fortunate to be able to turn to our endowment. That is what it is for and the committee will always be careful in the use of it to balance the budget.
We look forward to the time when we can return to our routine work managing the finances of the church.
Respectfully submitted,
Charlie Grenier, Michael Roche, Alec Tuscany, Cindy Senning, Diane Leavitt