Year-End Finances
FROM THE RECTOR
Do you remember that scene from the film National Lampoon’s Christmas Vacation, in which Clark Griswold opens his Christmas bonus expecting a big check only to discover that his company had instead enrolled him in the Jelly of the Month Club? Clark had assumed the bonus would cover the cost of a new swimming pool, on which he had already made a substantial down payment, and, now facing a considerable shortfall, he launches into a profanity-laced tirade about his boss.
St. Paul’s isn’t facing that sort of financial crisis, but we are counting on your generosity at the end of the year to make sure that we do not end 2023 with a substantial deficit.
In every year, December giving is important to our church’s budget. We typically receive about 16% of our giving income in the last month of the year. That is at least one and a half times more than any other month. This year, if we are to receive all our budgeted giving income for the year, we will need to receive over 20% of our yearly amount in December. That is a challenge I think we can meet, but we will all have to stretch to get there.
I am not sure why giving is behind schedule this year. It may be because people are worried about the economy or feeling the effects of inflation, but I notice that commitments for the coming year are coming in strong, which suggests that, while some of us may be reluctant to complete our estimate of giving, most of us feel comfortable doing so. It may be because we have switched to electronic giving statements, which may have inadvertently made it more difficult for people to review their giving history. If you are having trouble accessing yours, please call or email Leslie Alexander, our Parish Administrator, who can help you get a copy of your statement.
Attendance remains strong in worship. New people join familiar parishioners in church every week. Programs are as active and vibrant as in recent years. Giving from newcomers and other people who did not complete a giving card is up substantially this year, which implies that people remain invested in the life of our church. The lag in budgeted giving may simply be an inexplicable aberration, but I want you to know about it because it has the potential to impact our church’s programs for the coming year.
Every year, the vestry adopts a budget based on what you turn in as your estimate of giving. With that budget, we establish a plan for spending in outreach, formation, worship, parish life, personnel, administration, and properties. Guided by the budget, parish leaders then use the gifts you share to carry out God’s work in the world. When giving falls below expectations, we adjust our spending midyear as much as we can, but, if we end the year with a deficit, that erodes our financial security and makes it harder for the vestry to plan for next year. It also makes it harder for us to address unexpected expenses that exceed our budget—like roof repairs and HVAC replacements.
We recognize that, when your financial circumstances change, your giving should likewise change. Several generous people have let me know that they will need to reduce their giving this year because they have lost some of their income. That is a faithful approach to stewardship, and I thank them for their faithfulness. If your finances have not changed and you are able to complete your estimate of giving, I encourage you to do so. Finishing this year strong puts us in a better position for ministry in 2024.
St. Paul’s is a generous church. I believe that God has given us everything we need to do what God has called us to do. If we receive less, we will do less. If we receive more, we will do more. Everything you entrust to St. Paul’s is used by our vestry to fulfill our mission of celebrating and exploring God’s infinite grace, acceptance, and love. Thank you for your generosity and thank you for taking time to review your giving so far this year and for doing what you can to make sure St. Paul’s is financially healthy for years to come.
Yours Faithfully,
Evan D. Garner