(Brooke’s generosity Blog)
February 9, 2020
The year 2019 started with difficult financial news. We had an unexpected 2018 year-end deficit of $87,000. This put us in a cash flow crunch. The operating fund and expenses needed attention and session responded with a budget and staff reductions.
At the annual meeting we approved a budget with a balanced budget for 2019. We were close but did not achieve the goal.
We found excellent news on our balance sheet. For the tenth strait year, we grew our net worth. We lowered our property debt by $105,278 in principle payments on the mortgage. This came from our operating fund each month. At the same time, we retired $245,474 from the Kindred Loan. This came from donations to the “Brightening Our Future.”
Knox Waterloo has been prudent in managing funds. Some expenses were trimmed, and some special gifts were received for specific items needed, but not part of budgeted expenses. Our congregational vitality indicators are the envy of other congregations. Ministry to seniors, retirement homes, children, youth and families remain strong.
The “2019 Special Appeal” raised $103,551. Much of this, $78,320, was directed toward the accumulated deficit of prior years. This gives us much needed room to manage cash flow.
Like every church, much of our donation income comes in the last quarter. Managing cashflow is part of every church. This is changing over the years as more people choose to donate monthly using Pre-Authorized Chequing at Knox (PACK) to give directly from your bank account each month to Knox.
The 2019 Christmas offering was far greater than previous years at $36,156. Thank you.
Dr. Kennon Callahan is one of the most sought-after church consultants in the world. He knows this congregation and has been at Knox twice, once in 2013, and again in 2016.
The phased transition plan for ministry followed the advice of Dr. Callahan when he spoke to the session in 2016. With his expert advice, and with additional research from church’s across North America, Knox created a transition plan. The survey from the transition team, now available shows very strong congregational support for this plan.
Dr Callahan said this: “No church has the resources to do all it wants to do. Faithful congregations will find a way to do ministry that it is called to do.”
Every vital congregation that invests in ministry and mission finds itself with some financial stresses. This is similar to the experience of many families. We prayerfully and faithfully seek a way to follow God’s call.
Knox Waterloo is a leading congregation in our denomination. We build upon vitality, creativity, mission, community and ministry as we grow in faith together. Thanks be to God.