2016 Year-End Financial Report & A Brief Look at 2017
Praise to our Lord for his faithfulness and provision to us for the year 2016. I am pleased to let you know that we ended the year “in the black” by $37,000! Our total giving for 2016 was $1,201,000, exceeding our total expenses of $1,164,000. We were able to move the $37,000 net income for 2016 to our Major Maintenance Reserve.
The Major Maintenance Reserve has not been funded on an annual basis, so being in a position to be able to do this is a reason to give thanks. With the $37,000 addition, the Major Maintenance Reserve balance is currently at $53,000. This is not a large reserve put aside for any major repairs that may need to be done to our buildings or property in the future, but it is encouraging to see this fund growing.
We are most grateful that in 2016, we also received $184,000 in gifts to the church. These gifts are in addition to our regular budget giving. The $184,000 is in a reserve to be used for ministry expansion purposes. A blessing indeed!
In 2016, $12,700 was given to the Elder Emergency Fund, which provides for individual needs throughout the body. The contributions to the Elder Emergency Fund have been a source of blessing to many families.
Thank you to everyone who has given sacrificially and faithfully to our church home and the Kingdom ministry it represents.
We look forward to the year 2017, and all that the Lord has in store for us. As of February 28th, our budget income and expenses are just about even. Traditionally lower giving in January, winter weather storms that have kept attendance down and higher winter utility bills contribute to a slow start to our yearly giving.
Please be in prayer and remain faithful in the giving of your tithes and offerings as the New Year continues.
May you and your families be blessed in the coming year with all of the provision and faith that comes from living under the banner of the love and provision of the Lord.