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[Stew/Fin] Surplus Proposals (May 2023)

BACKGROUND

On (date), the Stewardship and Finance committee approved a recommended framework for how the Session might decide to engage our surplus funds (see below). Michael approached pastor Erina and the Session with the desire to come to some sort of agreement on how we would like to engage our surplus funds. It was suggested that the Finance committee come up with some more specific options with which the Session can engage.

What is our surplus?

Bank Accounts

Here is what our accounts look like right now, and how they have looked since January 2021:
image.png

How much is our surplus growing??

Based on April 2023 YTD profit and loss (to determine monthly expenses):
INCOME
Total income: 128587.47 (32416.87/month)
LESS Barnabas (16529.01) = 112058.46 (28014.62/month)
EXPENSES
Total expenses: 125055.66 (31263.92/month)
LESS Barnabas (16419.51) and roof (18000.00) = 90636.15 (22659.04/month)
Net gain/loss = 21422.31 (5355.58/month)

Recommended Framework

MOTION made by the Finance committee: to propose a 3-prong approach to our surplus:
Operating reserve
What do we need in case of dire emergency: salaries and utilities (power, water waste management, internet)
How much are these, and how long do we want to have them available?
Capital budget (for building improvements and repairs)
Community engagement - initiatives (churches, orgs, mutual aid, etc.) that allow us to create or maintain relationships that are directly linked to Bethel Community’s vision and values.
NOTE: in the past couple meetings, we have also considered a 4th category:
Church resourcing - initiatives that make a valuable investment into the vision and operations of Bethel Community as a thriving faith community

OPERATING RESERVE

There are two axes on this spectrum:
Should we include just salaries+utilities or salaries+utilities+all other operations a part of this reserve calculation?
Total expenses: 125055.66 (31263.92/month)
LESS Barnabas (16419.51) and roof (18000.00) = 90636.15 (22659.04/month)
Salaries and utilities: 86380.17 (21595.04/month)
How long of a reserve should we keep (in the 3-6 month range)?

CAPITAL BUDGET

We’d like for the facilities committee to compile a list of priority projects they’d like to see done.

CHURCH RESOURCING

Supporting technology improvements
Staff (hiring)
funding pastoral sabbaticals
Janitor wages cost-of-living adjustment (COLA)

COMMUNITY ENGAGEMENT

The finance committee wonders if these funds could be announced and administered as “people-driven” funds; i.e. funds whose specific purposes are decided by deacons, committees, or working groups
Unhoused neighbor outreach (i.e. Warming shelter)
Supporting indigenous communities
Faith community startups
Ways for Bethel Community to invest in other revitalizing (faith) communities
Local Mutual Aid funds
“Mission Driven Investments” fund into communities BCPC would like to support
Could we, in some way, take the stories our congregation members have shared (ie during AAPI month and Black History month) and support orgs/communities tied to their storytelling?

2023 Surplus Worksheet
0
Name
Option 4 (session 05-23)
Option 5 (MKE 07-23)
Option 6 (Stew/Fin 08-23)
Notes
1
Operating Reserve
75,000.00
75,000.00
50,000.00
Open
2
Capital Budget
70,000.00
75,000.00
70,000.00
Open
3
Church Resourcing
50,000.00
75,000.00
50,000.00
Open
4
Community Engagement
75,000.00
50,000.00
75,000.00
Open
5
Cash Flow
25,000.00
20,000.00
25,000.00
Open
There are no rows in this table
295,000.00
Sum
295,000.00
Sum
270,000.00
Sum

Sum of Option 4:
295,000.00
Percentage breakdown:
Operating Reserve:
Capital Budget:
Church Resourcing:
Community Engagement:
Cash Flow:

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