St. Peter’s by-the-Sea Annual Meeting January 29, 2017

During 2017 A finance committee of 4 persons was formed by Roxanne and Fr. Craig to meet monthly to discuss financial issues. The finance committee makes recommendations to the vestry. Bank and investment accounts have been consolidated where appropriate for ease of tracking monies.

Actual 2016: Total income was $424,468 Total Expenses were $409,383

Yielding a surplus of. . . . . $15,449

What makes up St. Peter’s finances? Community Market $50,000 Pre –School $90,000 Operating Budget $424,468

Annual Meeting 2017 The Community Market’s budget includes; The cost of food ½ the Director of Ministries’ Salary and Benefits

Annual Meeting 2017 The Community Market is funded by: Donations by the community Donations by St. Peter’s above and beyond our pledges Community grants

Annual Meeting 2017 The Pre-School Budget of $90,000 Includes: Salary and Benefits for the Director Salaries for the teachers. $4500 to defray the costs of the building

Annual Meeting 2017 The Pre-School’s budget of $90,000 is paid for by: Tuition payments Fund raising performed by the Pre-School parents

The Operating Budget Covers: Rector’s Salary and Benefits Parish Administrator’s Salary and Benefits Sexton’s Salary ½ the Director of Ministries’ Salary and Benefits Musician’s Salary and Benefits

The Operating Budget Covers: All costs to maintain the buildings and grounds Lawn care Plowing Upkeep (i.e. painting, minor repairs, etc.)

The Operating Budget Covers: Utilities Electricity Gas Oil Water Internet Phone

The Operating Budget Covers: Office supplies Paper Staples Copier Cleaning supplies Etc.

The Operating Budget Covers: Copyright permissions for music Costs for musicians at Christmas and Easter Supply Clergy Website upkeep - Altar Supplies

The 2017 Budget PLEDGE INCOME $285,303 Projected income total $392,883 Investment income $ 63,000 Non-pledged windfall 3,000 Plate offering 8,080 “Other income” 3,500 PLEDGE INCOME $285,303

$432,538 $39,655 The 2017 Budget Which is a projected deficit of Total Expenses are projected to be $432,538 Which is a projected deficit of $39,655

The 2017 Budget vs 2016 Actual Income is projected to decrease $31,585 Expenses are projected to increase $23,519 BUT Income is projected to decrease $31,585 **We know that $15,000 is a result of a pledge from one person who has since fell ill

There are roughly 150 pledging units to St. Peter’s The 2017 Budget There are roughly 150 pledging units to St. Peter’s

The 2017 Budget Our deficit of $39,655 can be solved by increasing your pledge by $5.09 BUT We can solve our deficit and begin to build a building and grounds endowment by increasing your pledge by $9.13

$9.13 A cup of coffee and muffin A glass of wine A martini A beer with a friend

The 2017 Budget Why the increase in expenses, and what about next year? Payroll: all staff wages are up to Federal guidelines for salaried employees, and we are proud of our wages Apportionment: an increase that we cannot change: 16.5% to the diocese

The 2017 Budget Why the decrease in income? Loss of one large annual pledge (due to illness) Many parishioners did not maintain the increase in their pledge an average to cover last year’s budget gap. Many parishioners who do not pledge (we cannot guess how much you will give)

$9.13