Financial Update

TRINITY UNITED METHODIST CHURCH, YORK, SC

Administrative Council Finance Update

April 25, 2021

 

Thank you for your financial support during 2021. As we look back on our financial health in 2020, we
were fortunate to pay all our bills in the midst of a COVID pandemic. You were fabulous about
supporting the needs of the church!  In 2020 we paid our apportionments to the South Carolina Methodist
Church. We paid our church employee salaries for the year. We paid our insurance bills and utility bills.
Thank you all for supporting your Trinity Church Family.


Following are some updates about our financial status:

  • The 2021 Operating Budget is $447,062.00. The 2020 Operating Budget was $423,970.40 which was a significant increase over the 2019 budget which was $347,325.00.

  • Contributions in 2019 were $346,336.69. Contributions for 2020 were $302,802.48. Contributions for 2021 are $98,270.75 as of April 25, 2021.

  • Memorials in 2019 were $13,625. Memorials in 2020 were $13,720. Memorials in 2021 are on target to be about the same as the previous two years.

  • Apportionments in 2021 are$41, 066. Apportionments were $41,066 in 2020. Remember that apportionments support various mission and administrative projects across our state.

  • We requested $35,331 each month to reach our 2020 budget goal. Even though we did not meet our budget goal, many of our expenses were lower due to the pandemic. Utility bills were lower. Vehicle expenses were lower. Education expenses were lower. We made a donation to PATH of $1500 in

  • December. We made a $2000 donation to the Wesley Foundation in December. Total expenses paid in 2020 from our Operating Budget and the Capital Improvement Fund were $297,681. We were blessed! As of April 1, 2021, we have paid expenses of $66,399.02.

  • We currently have a balance of $153,47 in our Reserve Fund. We did not use any of our reserve funds in 2020.

  • We do not have a mortgage at Trinity.

  • In 2021 we already replaced the carpet in the Toddler Sunday School Room. We replaced an HVAC unit in the Education Building that failed. These items were paid from our Capital Improvement Fund.

  • We will have some unbudgeted expenses in 2021 that we all need to consider. We will have some additional expenses in the parsonage as we prepare for our new pastor, Rev. Wanda Altman-Shirah.

  • We will also be responsible for our new pastor's moving expenses. We would also like to replace the carpet and sub-floor in the sanctuary. This is a challenging list in addition to our existing budget.

 

Make an effort to thank everyone for their financial support during this time of social distancing.
Predicted giving levels will also be lower in 2021, so continue to encourage others to attend activities at
Trinity. Pray for our Church family and all God's children.


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