By Sandee Steinberg, Chair, Finance Committee
As we near the end of our fiscal year let’s say “Thank You” to the members of this year’s finance team for all your hard work and your helpful input: Donna Miller, Barbara Drew, George Faulkner, Bonnie Gilbert, Mike Hanson, Jane Root, Scott Blaydon, and Denny Rodgers.
On Thursday, May 22nd, we held our annual budget meeting. Denny Rodgers, our Treasurer, and I presented the current state of our finances and the proposed 2025-26 budget in detail, line by line. Participants asked detailed questions about the budget and expressed their thoughts or concerns about the church’s finances in general. We had some great feedback and questions from the attendees. This feedback prompted further discussions that will continue into next year.
On Sunday, June 1st, as part of the annual meeting, Denny and I presented the current fiscal state and the proposed budget to the congregation. The proposed budget was voted on and passed.
There was some good news regarding the current state of our finances: (1.) we expect our 2024-2025 deficit to come in lower than the projected $35,000; (2.) the Capital Campaign costs are lower than expected so we won’t have to borrow as much money from ourselves as expected; (3.) income from the plate contributions are higher than projected for the year; and (4.) we have a good amount of savings and an endowment fund.
We are projecting a deficit budget of $46,000 for the 2025-26 fiscal year. We will also be drawing $52,000 from our savings to cover the cost of our half-time assistant minister, Rev. Lisa, for the upcoming year (as voted in January 2025). Some of the increased expenses in next year’s budget include a 2.5% cost-of-living increase for the staff, a full-time office administrator, increased building maintenance, utilities, and service fees. We recognize that consecutive deficit budgets are a concern. To that end, the Board will establish a task force in the late summer or early fall to develop a long-term financial plan for the church. One topic for the task force will be examining the feasibility of funding another half-time minister after Lisa’s term ends in June 2025.
I look forward to the upcoming fiscal year at UUCWC. Please reach out if you have any questions or concerns regarding the budget. You can contact me, Sandee Steinberg, at finance@uucwc.org, or Denny Rodgers at treasurer@uucwc.org.