1. St James’ Church 2016 Financial Snapshot
St James' 2016 Budget Final
4/4/2019

2. Objectives Provide a candid overview: 2015 year-end financial picture
2016 budget considerations for Vestry review
Going Forward
St James' 2016 Budget Final
4/4/2019

3. 2015 Perspective Experienced a 5 year decline in number of pledges
Consolidated mortgage debt unsustainable:
Necessitated using bequests and reserve funds for operating expense and repairs
Sold the Seccombe Property in 2015; reduced 2016 mortgage expense by $94K
Marketed King Street Property
Took responsible cost cutting measures
Implemented Monthly Mission Partner concept to fund outreach
Left positions open: Youth Ministries Director (ordained or lay), two office personnel, Property Manager, Nursery Supervisor
Kept Diocesan Pledge significantly below Diocesan expectation
Received positive Congregation response :
2015 Monthly Outreach contributions were $67K in 2014 and $71K in 2015
22 parishioners donated $45K to reduce the 2015 year-end deficit
St James' 2016 Budget Final
4/4/2019

4. 2016 Reality
Initial draft budget has projected deficit of $314K ($383K with King Street Properties and Preschool)
Vestry will consider potential actions to reduce deficit by up to $255K;
Hiring a Youth Ministries/Christian Education Director position (ordained or lay) will have positive impact
Additional strategies will be required to improve our financial position in 2016 and the future
St James' 2016 Budget Final
4/4/2019

5. Mission/Vision Unchanged
St. James’ Mission
Nourished by Word and Sacrament, we are sent out to do the work God has given us to do,
to love and serve God as faithful witnesses of Christ our Lord.
Commission Structure
Vision Map
Worship
Pastoral Care
Teaching
Prayer
Mission/outreach
Evangelism
Stewardship
Deepen Relationships with Christ and with one another within the context of our Christian community
Nourish souls through powerful worship
Increase participation in small groups
Focus on daily Bible reading and prayer
Reach Out to the local Community, the nation, and the world.
Engage more members in service
Find new ways to serve our local community
Build bridges between our ministries
Care for our properties and people
Take Care of our facilities
Improve access to and use of existing space
Reduce existing debt
St James' 2016 Budget Final
4/4/2019

6. Pledge Profile Item 2012 2013 2014 2015 5 Jan 2016
Number of Pledging Units
389
345
278
255
194
Pledge Income
$1,164,430
$952,553
$828,673
$833,495
$658,111
The Vestry approves an annual loss allowance based on the recommendation
of the Finance committee
St James' 2016 Budget Final
4/4/2019

7. Consolidated Expense/Income
Net Income/Loss
2014 (Actual)
2015 (Estimated Actual)
2016 (Estimated)
Total Income
$1,099,617
$1,045,429*
$846,561
Total Expenses
$1,155,240
$1,091,388
$1,161,009
Net Income/loss
($55,623)
($45,959)*
($314,448)
King Street Property
($37,971)
($42,583)
Preschool**
($3,627)
($26,300)
Total
($383,331)
*Reflects additional $45K donated at year-end by 22 Parishioners
**Estimated end of Preschool year impact (June 2016)
St James' 2016 Budget Final
4/4/2019

8. Vestry Considerations ($255K Potential)
Reduce Staffing – Youth Ministry Director ($97K), Part time Property Manager ($24K), Office Temp ($24K)
Reduce Diocesan pledge:
Budgeted at $92K (15% of Net Pledge Income) (2015 $54K or 7% of actual including St. Gabriel contribution)
Reduce to $62K or 10%; budget reduction of $30K
Property
Asset purchases of $70K charged to Foundations where appropriate
Music program
Reduce expense while maintaining program quality
Evaluate long term viability of the Preschool - ?$K
St James' 2016 Budget Final
4/4/2019

9. Going Forward
Fundamentally, St. James’ Church and it’s ability to accomplish Christ’s mission in the our community and the world is in our hands
We will need to join together to address:
Managing our financial resources wisely
Understanding and improving the pledging trend
Increasing pledge income
Implementing capital campaigns where appropriate
The Finance Committee meets Jan 12 to finalize these considerations which will be presented to the Vestry for approval on Jan 27
St James' 2016 Budget Final
4/4/2019