Congregational Letter from the Finance Committee (2021 Budget)

Dear Yates Family,

Our church is looking ahead to 2021, planning the future of worship and ministry. As we do so, we recall repeating this tradition year after year.  Do you remember what we were imagining this time last year for the upcoming year? We expected to be living out our vision as a growing community, alive with Christ and energized to share God’s transforming love.  Well, this is exactly what we did!  But most certainly not in the way we would have predicted.  Thus, as we prepare the church budget for 2021, we fully expect to continue the work we carried out in 2020.  This time, we will be less surprised to see the shape it takes even though we know we cannot predict the future.  And yet, we have one more year of experience confirming that we can count on God’s Spirit among us.

The 2021 proposed church budget projects the same revenue as was projected in the 2020 budget. During 2020 the congregation has been remarkably faithful in giving. As of October 30, the contributions are equal to the same period in 2019. In addition, the congregation has faithfully given to restricted accounts. Most notably, we have received more than $100,000 in 2020 for Growing God’s House. Those funds will be available to pay down the principal owed on the bank loan.  The current loan balance is approximately $1.6 million.  The total cost of our renovation was just under $4 million.

As for our expectations for expenses in 2021, please consider the following adjustments:

  • Missions – This section of the budget is set as 9% of revenue. The proposal is the same overall percentage as in 2019. The Missions Council recommends a few adjustments between the organizations supported. For example the Missions Giving Plans (CBF, SBC) is increased by .09% and the Yates Association is decreased by .64%. In addition several long-time partners received increases. Several items were eliminated because the projects have ended or our partnerships changed. The mission of Hope House/Welcome Ministry has expanded and thus been renamed. One new item is “Karkanis/Greece.” Allison Karkanis is a child of the church, and with her husband, George, have established a meaningful Christian ministry in response to human trafficking anchored in Athens, Greece.
  • Salaries – The Personnel Committee recommends that salaries and benefits be the same in 2019 and in 2020.
  • Building – During the time we have been out of the building, House and Grounds has changed out the lighting in several places to LEDs. This capital expense should result in cost savings on utilities.
  • Other expenses – In addition, modest adjustments have been made to other items based on tracking 2020 expenses.

We are thrilled to be on this journey with you. God’s bounty has overwhelmed the fear that comes with life’s mysteries, uncertainties, and frustrations.  We thank you for your joyful giving and encourage you to not stop meeting together.  Speak to one another with psalms, hymns, and songs from the Spirit.  Sing and make music from your heart to the Lord, always giving thanks to God the Father for everything, in the name of our Lord Jesus Christ.

Sincerely,

Sean Fenton, Finance Committee Co-Chair
Dave Odom, Finance Committee Co-Chair

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