Financial Update

TRINITY UNITED METHODIST CHURCH, YORK, SC

Finance Committee Update  

October 25, 2020

 

Let us all take time to thank Pastor Nellie, Sara, TJ, and Alice for taking care of our Church Family during this virus pandemic.  Life has not been business as usual.  It is wonderful to have church services started again, even if it is in the Trinity Center.   Attendance has been in the 40 - 50 range most Sundays. Pray to God for his help and mercy.     

 

Following are some updates about our financial status you might find interesting:

 

  • The 2020 Operating Budget is $423,970.40 which is a significant increase over the 2019 budget which was $347,325.00. 

  • Contributions in 2019 were $346,336.69.  Contributions for 2020 as of October 18 were $239,954.  

  • Memorials in 2019 were $13,625.  Memorials in 2020 as of October 18 are $10,760.

  • Expenses in 2019 were $311,693.36.  Expenses in 2020 are projected to be at least $318,000 by the end of the year even if we eliminate some items.   We continue to pay the salaries of our church staff.

  • Apportionments in 2020 are $41,066, which is an increase of $4,454 above the 2019 contribution amount.  Payments continue on budget.   

  • Remember that we need $35,331 each month to reach our 2020 budget goal.  We are about $80,000 behind our giving goal for 2020. 

  • We currently have a balance of $153, 082.07 in our Reserve Fund.  We have not used any of our reserve funds yet in 2020.

  • We do not have a mortgage at Trinity.

  • The SC Conference has provided a fee reduction for our pastor pension and health coverage for three months, July, August and September, to help with COVID-19 pandemic financial burden which will save Trinity about $6,000.  This is unexpected support for which we are most grateful.

  • If we do not meet our budgeted giving goals, there are some things we will not be able to support in 2020 as planned.  Some of the items include:  new floor covering in the sanctuary,

lighting upgrade, replace an HVAC unit in the education building and mission project support.

 

Make an effort to thank everyone for their support during this time of social distancing.  In addition to financial support to our church,  some are making masks, many are checking on Church Family members and providing needed support.   What a wonderful Church Family!  Thanks be to God!   

 

If there are questions about this report or there is a need for additional information,

contact Dick Sweigart at 803-627-4860 or Sweigart.Richard@yahoo.com.

 

Respectfully Submitted,

 

 

Richard Sweigart

Finance Chair  

TRINITY United Methodist Church

Office: (803)684-4100

22 E Liberty Street

York, South Carolina 29745

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