It has been a busy couple weeks at Cornerstone. We had our Celebration Dinner and had an opportunity to make financial commitments to the church for next year. We are close to submitting a budget for 2009. We had our annual Charge Conference last night.
I am not sure it is the same at all churches, but it is always fun at Cornerstone to look back at the past year, what we have done, and the lives that have been changed. It is also fun to look forward to the exciting new challenges of a new year. Then again, it is just fun to get several hundred Cornerstoners in a room with food and glow sticks! We had financial commitments for 2009 totaling between $700,000 and $800,000. How awesome to see such faithfulness at a time when everyone's wallet is feeling squeezed.
The finance committee met Tuesday night and we are close to sending a budget to the Executive Council. That budget is expected to be between $1.2 and $1.3 million. It took a lot of prioritizing and cutting to reduce it to a level we are comfortable operating within. Jack Fisher and the rest of the staff work very hard to get our budget ready. We will submit the budget for the Executive Council to approve in December. The finance committee also aproved the payment of 4 months of our apportionments to the United Methodist Church. That will have us paid up through September.
Finally, Cornerstone had our annual business meeting called the Charge Conference last night. We approved the leadership for next year. I will be stepping down as chairperson of finance and handing it over to Nic Cofield, but I'll blog more about that later.
Have a great Thanksgiving! Christmas will be here before you know it (unless you shop at Hobby Lobby or Target, where it has been here for months). If you have any questions, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Thursday, November 13, 2008
Wednesday, October 8, 2008
2008... Slow Down!
How can I think about 2009 now when I don't even know what the end of the week is going to look like? That is the kind of week I am having. We have officially begun the budgeting process for 2009. What will 2009 bring? A third service? Faster growth? Slower growth? What about new staff positions? What about new ministry opportunities? What about tightening budgets and slower economic growth? Planning for next year is challenging. We are a church with a big vision that serves a big God. Am I the little finance nerd that stands in the way of that? Fortunately, we have some time to deliberate and get it all sorted out.
For the year, we have spent about $12,000 less than was given. That is pretty close to even when you consider the $630,000 we had coming in and going out. The last quarter of the year is always exciting at Cornerstone. We have our Celebration Dinner coming up at the beginning of November (plan to be there!) and Christmas.
Let me know if you have any questions about the numbers or the budgeting process.
For the year, we have spent about $12,000 less than was given. That is pretty close to even when you consider the $630,000 we had coming in and going out. The last quarter of the year is always exciting at Cornerstone. We have our Celebration Dinner coming up at the beginning of November (plan to be there!) and Christmas.
Let me know if you have any questions about the numbers or the budgeting process.
Wednesday, September 17, 2008
The Survey Cometh
I just realized that I updated the financial stuff to the right, but never commented this month. I guess the craziness of the fall has already gotten to me. August was a relatively low spending month, so that makes the finance chairman happy for another 30 days. We still have some obligations that we owe to our conference, so the numbers are a little distorted. But, it was a good month.
We need everyone to take 25-30 minutes to fill out the Spiritual Life Survey at cornerstonebuzz.org. It should be posted in a few days and will provide valuable information to the leadership of our church. I understand some of the questions are thought-provoking and that it will take 25-30 minutes, but this is an investment in Cornerstone that we need very much. Be sure to spread the word to anyone who considers Cornerstone their church, even if they are not a member.
If you have any finance questions, please do not hesitate to email or ask me.
Keven
We need everyone to take 25-30 minutes to fill out the Spiritual Life Survey at cornerstonebuzz.org. It should be posted in a few days and will provide valuable information to the leadership of our church. I understand some of the questions are thought-provoking and that it will take 25-30 minutes, but this is an investment in Cornerstone that we need very much. Be sure to spread the word to anyone who considers Cornerstone their church, even if they are not a member.
If you have any finance questions, please do not hesitate to email or ask me.
Keven
Wednesday, August 6, 2008
Summer, where did you go?
Can you believe the summer is over? Where did it go? Well, with school starting back, that can mean only one thing... things at Cornerstone will be starting back, too. We are finishing our Cha-Ching series and starting a new sermon series called iChurch. Community groups are getting ready for the fall. Dinners are starting back.
Although attendance was good in July, giving was about $10,000 less than June. For the month (and year-to-date), we have spent about $7,000 more than was given. Youth trips and Camp Cornerstone had a big part in that in July.
During the Cha-Ching sermon series, the church has been offering the book I Was Broke, Now I'm Not for sale. If you are interested in getting some help budgeting and getting out of debt, stop by the welcome desk or contact the church office (or me) to get a copy. It is a great place to start. We will also be offering some Dave Ramsey community groups this fall focused on personal finances. These are great resources for real people with real struggles.
As always, if you have any questions, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Although attendance was good in July, giving was about $10,000 less than June. For the month (and year-to-date), we have spent about $7,000 more than was given. Youth trips and Camp Cornerstone had a big part in that in July.
During the Cha-Ching sermon series, the church has been offering the book I Was Broke, Now I'm Not for sale. If you are interested in getting some help budgeting and getting out of debt, stop by the welcome desk or contact the church office (or me) to get a copy. It is a great place to start. We will also be offering some Dave Ramsey community groups this fall focused on personal finances. These are great resources for real people with real struggles.
As always, if you have any questions, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Wednesday, July 9, 2008
Cha-Ching
No, the title of this post does not have anything to do with the church's finances the past month. It has to do with the upcoming sermon series that will start after the Dirty Jobs series. Stay tuned to the Cornerstone web page and e-news for more on that.
The June numbers on the right-hand column of the blog look awful. Did we really spend $25,000 more than was given in June? No, not exactly. The church is assessed an amount that must be paid to the conference (the bigger Methodist church) each year called apportionments. In the past, we have paid these monthly, but this year we have been waiting to see how the finances played out. We wanted to make sure we were able to cover our payroll, etc. So, in June we paid the first 6 months worth of apportionments, which was almost $34,000. We are pretty close to even for the year so far, spending about $4,500 less than was given. Although $4,500 may seem like a lot less for your personal budget, we are talking about numbers in the $400,000 range, so we are within about 1%.
At our finance committee meeting last night, we also began discussing the 2009 budget. It seems WAY too soon to be thinking about 2009, but the budgeting process for the church actually takes place in September, October, and November. We didn't really discuss it much, other than to think about the timeline and make sure we knew it was approaching in only a couple months.
As always, if you have any questions, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Happy summer!
The June numbers on the right-hand column of the blog look awful. Did we really spend $25,000 more than was given in June? No, not exactly. The church is assessed an amount that must be paid to the conference (the bigger Methodist church) each year called apportionments. In the past, we have paid these monthly, but this year we have been waiting to see how the finances played out. We wanted to make sure we were able to cover our payroll, etc. So, in June we paid the first 6 months worth of apportionments, which was almost $34,000. We are pretty close to even for the year so far, spending about $4,500 less than was given. Although $4,500 may seem like a lot less for your personal budget, we are talking about numbers in the $400,000 range, so we are within about 1%.
At our finance committee meeting last night, we also began discussing the 2009 budget. It seems WAY too soon to be thinking about 2009, but the budgeting process for the church actually takes place in September, October, and November. We didn't really discuss it much, other than to think about the timeline and make sure we knew it was approaching in only a couple months.
As always, if you have any questions, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Happy summer!
Wednesday, June 11, 2008
What a church!
It has been an eye-opening six weeks at Cornerstone. First, we had the goal of raising $10,000 above and beyond our regular giving for a well in Uganda. We raised four times that goal. Then, we had the goal of raising an additional $10,000 for our playground fund above and beyone our regular giving. We raised almost two and a half times that goal. What a church!
Financially speaking, we are plugging right along. As you can see in the column to the right, we spent about $5,500 more in May than was given. The money for the well and playground are not included in those numbers, since those were contributions for a designated cause that will be spent entirely for those purposes. While we are not bringing in the amount we budgeted, we have not spent what we budgeted either.
At our finance committee meeting last night, we agreed to pay almost $34,000 in apportionments to the Methodist Church. Each year we are assessed a certain amount that we pay to support our district and conference. We have not been paying it monthly this year, wanting to see how our cash flows were doing. Last night we agreed to pay the first 5 months worth.
Summer is always an interesting time in church finances. Attendance tends to be a little lower, and giving tends to be a little lower. However, spending tends to pick up as we prepare for the fall.
If you have any questions, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Financially speaking, we are plugging right along. As you can see in the column to the right, we spent about $5,500 more in May than was given. The money for the well and playground are not included in those numbers, since those were contributions for a designated cause that will be spent entirely for those purposes. While we are not bringing in the amount we budgeted, we have not spent what we budgeted either.
At our finance committee meeting last night, we agreed to pay almost $34,000 in apportionments to the Methodist Church. Each year we are assessed a certain amount that we pay to support our district and conference. We have not been paying it monthly this year, wanting to see how our cash flows were doing. Last night we agreed to pay the first 5 months worth.
Summer is always an interesting time in church finances. Attendance tends to be a little lower, and giving tends to be a little lower. However, spending tends to pick up as we prepare for the fall.
If you have any questions, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Wednesday, May 7, 2008
The Summer Slowdown?
The summer is quickly approaching, so I suppose activities at Cornerstone will slow down, relatively speaking. In the finance-side of things, that is not how it works. In fact, spending will probably increase in the summer and early fall as ministry areas prepare for Vacation Bible School, Community Groups, etc.
As we travel and relax during the summer months, please do not forget about the church. It turns out that our staff still likes to get paid, the bank still likes to get paid, the utility companies still like to get paid, and ministry is still happening.
If you have any questions, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
As we travel and relax during the summer months, please do not forget about the church. It turns out that our staff still likes to get paid, the bank still likes to get paid, the utility companies still like to get paid, and ministry is still happening.
If you have any questions, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Monday, April 21, 2008
Like Numbers?
We are always looking for appropriate ways to inform members and regular attenders about the finances of the church without turning off guests who are relatively new to the whole church thing. You won't find the weekly giving in the bulletin at Cornerstone (and, in fact, you won't find a bulletin now that we use information cards). One way we share financial information is through the quarterly newsletter that is sent to members and regular attenders.
If you are looking for a more frequent update, I have added the monthly income/expenses and some other information to the right-hand side of the blog. I will update that monthly, so you can see how things look. Our goal is to be transparent, so if you have any questions (or suggestions for the blog), I hope you will not hesitate to email me with the link at the top of the blog.
If you are looking for a more frequent update, I have added the monthly income/expenses and some other information to the right-hand side of the blog. I will update that monthly, so you can see how things look. Our goal is to be transparent, so if you have any questions (or suggestions for the blog), I hope you will not hesitate to email me with the link at the top of the blog.
Wednesday, April 9, 2008
In Like a Lion, Out Like a Lamb
When it comes to church finances, Easter usually is a happy time (Christmas, too). Aside from the spiritual significance of those holidays, attendance is usually higher and that translates to a happier finance committee chairman. It can be very awkward to think about the business/finance side of the church. As a committee, we see many wonderful ministries and opportunities unfolding in the church that we would love to add to the budget. For example, we saw preliminary drawings of a church playground that you will hear more about very soon. However, we don't create the money, we just try to be good stewards of whatever tithes and offerings the church receives.
For March, our members and regular attenders gave $81,136.05 and we spent $61,759.67. For the first quarter, we have spent about $37,000 less than we received. While that looks great, we know that the summer months and early fall are traditional lower income months and higher spending months. We also have about $20,000 in apportionments (which are like dues to the conference) that we have not yet paid for the year.
I try not to post a bunch of numbers. If you would like to see more detailed information, send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
For March, our members and regular attenders gave $81,136.05 and we spent $61,759.67. For the first quarter, we have spent about $37,000 less than we received. While that looks great, we know that the summer months and early fall are traditional lower income months and higher spending months. We also have about $20,000 in apportionments (which are like dues to the conference) that we have not yet paid for the year.
I try not to post a bunch of numbers. If you would like to see more detailed information, send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Thursday, March 13, 2008
Another Day, Another Dollar
We had another finance committee meeting Tuesday night. It went quite smoothly, since we did not have any major agenda items. We meet every month to at least review the monthly financial statements and cash flow, even when no other action is needed. This was one of those months.
February was okay. We ended up spending about $8,500 more than was given. However, much of that was from planned purchases with special gifts that were given at the end of last year. So far this year, we have still spent less than has been given.
You will start to see ways to pay for some fellowship events and other activities online at cornerstonebuzz.org. Other than that, there is not much to report.
If you have questions, send me an email at finance@cornerstonebuzz.org or see me Sunday morning. Have a great Easter!
February was okay. We ended up spending about $8,500 more than was given. However, much of that was from planned purchases with special gifts that were given at the end of last year. So far this year, we have still spent less than has been given.
You will start to see ways to pay for some fellowship events and other activities online at cornerstonebuzz.org. Other than that, there is not much to report.
If you have questions, send me an email at finance@cornerstonebuzz.org or see me Sunday morning. Have a great Easter!
Wednesday, February 13, 2008
Things are rollin'...
The Finance Committee met last night for our monthly meeting. It was a pretty routine meeting. We looked over the financial statements from January. It was a good month - we spent $18,000 less than was given. Of course, that is a little misleading since we sometimes get big gifts at the beginning of the year. Plus, we have made some purchases that will not show up until February. But, nevertheless, it was what we like to see. As a growing church, we pretty much live month-to-month.
We also discussed the possibility of using direct deposit for our payroll. Right now, we have decided to put it on hold because we do not want to add any expenses to the budget. But, we will revisit this every few months and weigh the costs and benefits.
Jack updated us on Fellowship One, which is the church's new database software. Soon, you will be able to contribute to the church with a credit card via the web page. We will also see improvements in how kids are checked in at KidzTown.
There is an audit committee in place to confirm that our financial house is in order and provide recommendations to make sure they stay that way. We have not had any issue that led us to form this committee. It is simply another check and balance to assure the church that we are being good stewards. They have been at work since the fall.
We want to be transparent. If you have questions about the church's finances, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
We also discussed the possibility of using direct deposit for our payroll. Right now, we have decided to put it on hold because we do not want to add any expenses to the budget. But, we will revisit this every few months and weigh the costs and benefits.
Jack updated us on Fellowship One, which is the church's new database software. Soon, you will be able to contribute to the church with a credit card via the web page. We will also see improvements in how kids are checked in at KidzTown.
There is an audit committee in place to confirm that our financial house is in order and provide recommendations to make sure they stay that way. We have not had any issue that led us to form this committee. It is simply another check and balance to assure the church that we are being good stewards. They have been at work since the fall.
We want to be transparent. If you have questions about the church's finances, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Monday, January 21, 2008
How BIG are we going?
Our theme at Cornerstone this year is Going Big. The question is, how big are we going? Well, our total budget for 2008 is $1,122,566.10. WOW! In other words, we believe it will take about $21,588 per week or about $93,547 per month to operate our church and its ministries. It is a big number to digest, but we have stepped out on faith and believe that this is what Cornerstone needs.
If you have questions about the budget or other aspects of the church's finances, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
If you have questions about the budget or other aspects of the church's finances, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Tuesday, January 8, 2008
Who are we?
Each month, the finance committee meets to review the church's finances and discuss the business of the church. But, who is this secret committee of bean counters and calculator jockeys? Here is your 2008 finance committee:
Keven Yost, Chair
Tammie Hill, Volunteer Treasurer
Jack Fisher, Church Administrator
David Smithson
Dan Walters
Richard Franey
Nic Cofield
Soon I will be posting information about our 2008 budget and monthly financial updates. As always, if you have questions about the church's finances, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Keven Yost, Chair
Tammie Hill, Volunteer Treasurer
Jack Fisher, Church Administrator
David Smithson
Dan Walters
Richard Franey
Nic Cofield
Soon I will be posting information about our 2008 budget and monthly financial updates. As always, if you have questions about the church's finances, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
Thursday, December 20, 2007
Get Plugged-in and Improve Your Finances
I am excited about a new Community Group opportunity this spring: Dave Ramsey's Financial Peace University.
Financial Peace University is a 13 week program that teaches
you how to make the right decisions with your money. You'll be empowered
with the practical skills and confidence needed to achieve your financial
goals and experience true financial peace! Financial Peace University is
a DVD series led by financial advisor and radio talk show host Dave
Ramsey. The series helps you establish a budget, pay down debt and
retire with dignity using God's principles for managing money. Classes
will last approximately 2 hours once a week. A membership kit is required
at a cost of $93 (one kit is designed to be share by a household – singles,
couples or families with older teens). The average family pays off $5,300
and saves $2,700 during the 13 week period.
This group is intended for everyone interested and will be led by Chip and Nicole Gaillard at their home Wednesdays from 6 to 8 PM starting January 30th.
Watch for Community Group sign-ups in January. For more information, contact Robin Duke, our Discipleship Chairperson, at discipleship@cornerstonebuzz.org.
Have a merry Christmas!
Financial Peace University is a 13 week program that teaches
you how to make the right decisions with your money. You'll be empowered
with the practical skills and confidence needed to achieve your financial
goals and experience true financial peace! Financial Peace University is
a DVD series led by financial advisor and radio talk show host Dave
Ramsey. The series helps you establish a budget, pay down debt and
retire with dignity using God's principles for managing money. Classes
will last approximately 2 hours once a week. A membership kit is required
at a cost of $93 (one kit is designed to be share by a household – singles,
couples or families with older teens). The average family pays off $5,300
and saves $2,700 during the 13 week period.
This group is intended for everyone interested and will be led by Chip and Nicole Gaillard at their home Wednesdays from 6 to 8 PM starting January 30th.
Watch for Community Group sign-ups in January. For more information, contact Robin Duke, our Discipleship Chairperson, at discipleship@cornerstonebuzz.org.
Have a merry Christmas!
Sunday, December 16, 2007
The First Blog
Although we do not discuss the church's finances on Sunday mornings, they are not a secret or anything we are trying to hide. The finance committee has discussed at various times how to inform people about the finances and business side of the church without making the church "all about money." Our goal on Sunday mornings is simply to connect people to God.
As you can read in the description at the top of this blog, its purpose is to inform you about the financial happenings of the church. I and any of the members of the finance committee are more than happy to answer your questions at any time.
Soon I will be posting information about our 2008 budget, which is in the approval process, a Community Group about dealing with personal finances that will be offered in the spring, and the members of our 2008 committee. As always, if you have questions about the church's finances, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
As you can read in the description at the top of this blog, its purpose is to inform you about the financial happenings of the church. I and any of the members of the finance committee are more than happy to answer your questions at any time.
Soon I will be posting information about our 2008 budget, which is in the approval process, a Community Group about dealing with personal finances that will be offered in the spring, and the members of our 2008 committee. As always, if you have questions about the church's finances, please send me an email at finance@cornerstonebuzz.org or see me Sunday morning.
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