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Parish Finances

Operating Budget

Pledges and revenue have increased or held steady over the last few years. Total revenue was $555,674, $543,283, and $572,694 for the years 2013, 2014, and 2015, respectively. Although the aggregate pledge increased from 2013 through 2016, pledging units declined from 152 to 141 over the same period, despite a robust annual stewardship campaign. This decline is attributed, in part, to the departure of Rev. Beddingfield, which occurred during the last stewardship campaign.

We have had issues recently with yield from pledges, with actual revenue falling short of budgeted revenue by approximately $30,000 in both 2014 and 2015. Also, in 2013, necessary maintenance and other higher-than-anticipated expenses caused a significant budget deficit. In 2015, the vestry embraced the challenge of controlling our costs and balancing our budget, and their efforts yielded a drastic decrease in the deficit to only $9,000. 

A summary of budgeted versus actual operating revenue and expenses for the last three years is shown below. Please see our governance page for information on parish governance, strategic goals, the current annual budget, and bylaws of the parish

 

RevVExp

 

Endowment

All Souls is also blessed with a generous endowment, which has been managed by an endowment board since the early 2000s. As of December 31, 2013, 2014, and 2015, the endowment balance was $2.93 million, $2.95 million, and $2.94 million, respectively. However, this balance will decline by approximately $400,000 in 2016 to cover cost overruns from construction of our accessibility addition. Historically, we have used the endowment as a charitable vehicle, giving grants to local and international charities recommended by the endowment board and approved by the vestry.

 


 

Last Published: April 21, 2016 2:26 PM
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