The St. Andrew’s Finance Committee has been hard at work during the year and it is timely to bring the Parish up to date. St. Andrew’s is currently running an operational deficit due to a shortage in identifiable offerings as our congregation continues to decline. The 2017 budget projected an income from offerings at $107,670 to the end of August. However, actual income received is $96,700, leaving a shortfall of $10,900. Recently there have been concerns expressed as to how and why capital projects proceed when the Church is experiencing a deficit. This is a good question and deserving of an explanation. More recently several projects were identified and included new carpeting in the Church basement, replacement furniture and an upgrade of our Priest’s office, repair lighting to the west church win-dows, repair steeple lighting, installing new outside lighting to the west and north west side of the exterior of the church, the installation of a new electronic digital sign, and a new website. These projects are necessary for various reasons including general upkeep and improvement to our physical assets (buildings), crime prevention and personal safety, and marketing purposes in order to communicate with our community in a digital age. These projects were presented to the Finance Committee, who after review, made recommendation(s) to Vestry for approval. Vestry in turn presented the 2016 & 2017 budgets (which included these projects) to the Annual General Meeting (AGM). Both budgets were approved by the Parish at the AGM. Each project has been completed within budget and paid for by money set aside for capital projects. These funds are generated in part from trust fund interest, individual and Church group donations, and Church fundraisers. It is important to note that funds raised for operating costs (identifiable offerings) are not and were not utilized for any of these projects. It is, and remains the policy of St. Andrew’s, that Trust Fund principal remain intact while the interest is utilized to support capital projects. The Finance Committee continues to work diligently on your behalf and makes recommendations on a regular basis to Vestry as it pertains to investments and expenditures of our Church. Your continued financial support is sincerely and deeply appreciated. Thank you.
George V. Wright
Chairperson On behalf of St. Andrew’s Anglican Church Finance Committee