Financial Update

TRINITY UNITED METHODIST CHURCH, YORK, SC

Administrative Council Finance Report

April 24, 2022

Thank you for your financial support during 2022. You all have been aware of reduced giving
and have worked to minimize expenses. You have consistently supported the needs of the
church!


Some of our financial accomplishments are listed below for discussion:

 

  1. The Trinity Statistical Report for 2022 was provided to the District Office on February 28, 2022 as required.

  2. The 2021 Trinity Annual Audit was completed with the support of Jamie Patterson. The Audit Report was provided to the District Office before the due date of March 31, 2022.

  3. A Fish/Chicken Fundraiser was completed on April 1 with a profit of $3,148. Proceeds went to the Capital Improvement Fund towards the Trinity Roof Repair.

 

Following are some updates about our financial status:

 

  • The 2022 Operating Budget is $404,215. The 2021 Operating Budget was $447,062.00. The 2020 Operating Budget was $423,970.40 and the 2019 budget was $347,325.00.

  • Contributions for 2022 are $101,757.29 as of April 18th. Contributions in 2021 were $317,917.88. Contributions for 2020 were $302,802.48. Contributions in 2019 were $346,336.69.

  • Expenses paid as of April 18, 2022 are $89,077.69. Expenses paid in 2021 were $322,843.30 which included refurbishment of the sanctuary with funds used from our Money Market Account. Total expenses paid in 2020 from our Operating Budget and the Capital Improvement Fund were $297,681.

  • Memorials to our Capital Improvement Fund as of April 18, 2022 are $12,045. Memorials to our Capital Improvement Fund in 2021 were $14,476.50. Memorials in 2020 were $13, 720. Memorials in 2019 were $12, 625.

  • Our Capital Improvement Fund is $17,132.74 as of April 18, 2022. Remember we need $30,000 to complete the Trinity Center Roof Repair (We paid $10,000 in 2021 for materials before the price increase in 2022). If we do not gather the $12,867 by the time the repair is complete, we will have to pay the remaining total from our Reserve Fund.

  • We have paid $9,874.00 so far towards our apportionments in 2022. The 2022 Apportionments are $37,345. Apportionments in 2021 were $42,098. Apportionments were $41,066 in 2020. Remember that apportionments support various mission and administrative projects across our state.

  • We currently have a balance of $103,185.78 in our Reserve Fund. We used $50,000 from our reserve fund in 2021 to replace the carpet in the sanctuary, refinish the chancel area floor, and complete a light refinish of the pews. This was a necessary project to keep our sanctuary in good condition. We also made a $10,000 payment for materials to replace the roof of the Trinity Center which will be completed in the Spring of 2022. 

  •  We do not have a mortgage at Trinity.

  • We will have some significant expenses in 2022 that we all need to consider. We need to replace the Trinity Center roof since it leaks and is beyond the expected life. The cost will be about $30,000 in addition to the $10,000 we spent on materials in 2021. The roofs over the entrance to the education building and the Trinity Center have been replaced for a cost of about $1600.

  • We have obtained a grant to upgrade our ability to record and live stream Trinity services with new technology. The grant is for ~50% of the upgrade cost, which is $5,382.82. When the work is complete, we can submit receipts and receive payment for the remaining 50%. The grant is being held in a Restricted Asset Account called the Belin Trust.

 

Discussion Items:


Is the Church Family and the York Community ready for more fundraiser meals?


Our average attendance in Church so far in 2022 is ~ 78 and our attendance in Sunday School so
far in 2022 is ~53. When you combine the attendance at the early worship service and the later
worship service we continue to see a gradual increase. This is great news!


Make an effort to thank everyone for their financial support. Continue to encourage others to
attend activities at Trinity. Pray for our Church family and all God's children. We have been
blessed!


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.


Richard Sweigart
Finance Chair