Parish Financial Update from the Wardens and Finance Committee
The Wardens and Finance Committee give you the following update on the financial position of the parish:
At the end of August 2021, we have a year-to-date (YTD) surplus of $1184.89 as compared to a YTD deficit of $39,062.13 at the same point last year. Our YTD expenditures are some $9,000 below last year.
Our financial position has been greatly aided by the Federal Wage Subsidy program. So far we have received $17,317.50 from that program. We are unlikely to receive substantially more this year.
Our small surplus is notwithstanding no income received so far in 2021 from hall use by our tenants. In 2019 our YTD income from hall use was $19,983.55 to this point in the year. We may receive some small amount of income in the balance of the year, but we simply don’t know at this point. Similarly our fundraising initiatives have been suspended so far this year with the cancellation of the garage sale in the spring. It is looking doubtful that it will be possible to have the Christmas bazaar. So as in 2020, we are completely dependent on offerings to sustain our operations.
So why are we in such comparative good financial shape? God’s grace and your generosity!
None of us involved in managing the parish finances can remember a year in which we were in such good financial shape at this point in the year. The way that you have faithfully maintained your giving whether through the e-Collection plate, Canada Helps, or placing your envelope in the parish mail-box has made the difference. We know that some of you have also made extraordinary contributions for which we are doubly grateful.
A word about those special contributions: This parish has a long history of absolute discretion about individual givings. The incumbent, the wardens, Finance Committee, and members of Parish Council have no idea whatsoever what any one individual or family gives. The one downside of that discretion is that we have no means of issuing special thanks for an extraordinary gift. But please know, God knows of your generosity and the whole parish has given heartfelt thanks to God for the blessings we have received of which you have been the giver.
You will recall that we started this year with a forecasted deficit of some $24,000 – a deficit that was going to exhaust our previous years’ surplus and force us to make painful cuts for 2022. If we all keep our offerings up-to-date, and if those who traditionally make generous end-of-year donations do so again this year, we will have erased that deficit and given ourselves a firm foundation to go on with our ministry in serving God and neighbour in this place in 2022.
Glory to God whose power working in us can do infinitely more than we ask or imagine…
Thank you, and thanks be to God.
The Wardens and the Finance Committee