1. 1 Finance Committee Report Annual Meeting February 14, 2010 Presented by: Andrew Hullinger Treasurer and Chairman of Finance Committee

2. 2 Overview Review of 2009 2010 Stewardship Campaign Results to Date 2010 Operating Budget Next Steps

3. 3 Review of 2009 Continued Commitment to Transparency. Books for 2009 not closed yet. Preliminary operating results are projected to be breakeven. PNC loan was approved and funded. Funds were used as intended to replace the sanctuary roof and HVAC system. Managed cash flow so that borrowing from fund account was not necessary.

4. 4 Giving Overview Number of Pledges by Giving Range 2008-2010 Total Number of Pledges 2008 (year end)818 2009 (year end)750 2010 (to date)611

5. 5 Giving Overview Total $ Pledged by Giving Range 2008 - 2010 Total $ Value of Pledges 2008 (year end) $ 2,132,203 2009 (year end) $ 1,931,971 2010 (to date) $ 1,632,414

6. 6 Pledge Income vs. Operating Expenses For the Periods Indicated ($ in 000s)

7. 7 2010 Operating Budget Terms of Loan require St Columba’s to report financials to PNC according to Generally Accepted Accounting Principals (GAAP). Must consolidate reporting for all entities under our Federal Tax ID number. Church, Summer Camp, and Nursery School are all under our Federal Tax ID number. Finance Committee voted to move fiscal year from January – December to July – June to be consistent with School, effective July 1, 2010. Therefore, 2010 Church budget will be 6 months, from January 1 to June 30.

8. 8 2010 Operating Budget (6 Month) Revenues Pledges $988,000 Plate Revenue 67,000 Space Use Fees 43,000 Other Revenue 68,000 Total Revenue $1,116,000 Expenses Salaries, Wages, Benefits $706,000 Facilities and Utilities 298,000 Program Expenses 75,000 Other Commitments 115,000 General & Administrative 114,000 Total Expenses$1,308,000 Loss from Operations

9. 9 FY10 Operating Budget How Many People Work Here? TypeFull TimePart TimeTotal Clergy41 (volunteer) 5 Program325 Admin & Operations 8412 Total15722

10. 10 Next Steps Carefully monitor budget and cash flow If you haven’t yet pledged, please do so. If you are able, please don’t wait until December to pay your 2010 pledge. Pay early, or pay regularly, if you can. It will make a difference!