Budget Update - September 5, 2010
Budget: $64,904/wk
Week 36: $62,637
YTD: $2,102,643
Change from 2009: $82,458
Percentage: 4.08%
Budget Variance: ($233,901)
Percentage of Budget: 89.99%
Greater Things September 5: $12,587.38
Greater Things YTD: $457,207.80
MABC Tithing Options
We have a number of ways for you to give your tithes to MABC.
1. Write a check, made payable to MABC, during Sunday morning services and deposit it in the offering basket. Make sure the memo line on your check clearly states your purpose, as all unmarked or unclear designations will go toward the General Fund. A tithe envelope is not necessary if the memo line is clear. Please do not include any other payments/registrations in the offering basket, as they may get missed and inadvertently absorbed into the General Fund.
2. Cash should be enclosed in a labeled tithe envelope if it is to be credited to your statement of giving. Please legibly include both your first and last name.
3. Fill out an automatic debit enrollment form. Using this form allows MABC to directly debit your checking account on a scheduled basis. You can receive this form from Lori Hubbard by contacting her at (540) 658-1070 or
This e-mail address is being protected from spambots, you need JavaScript enabled to view it
.
4. Do online bill pay through your own banking institution that will send us a check directly. Again, make sure the memo line is concise in regard to your wishes.
5. Send or drop off personal checks to the church office anytime.
Dear Church,
The MABC Stewardship Committee and Church Staff are pleased to present our proposed Church Budget for 2010 for your consideration.
This past year has been a hallmark of Faith as it concerns our Church’s finances.
- As a Church we committed by Faith to providing a full 10% of all tithes and offerings to missions work both near and far. Many churches struggle with the practicalities of such a principle, but our leadership embraced it and moved forward on faith.
- We launched another three year capital stewardship campaign, Greater Things, and Faithful pledging and giving to the campaign has been exceptional with over $830,000 contributed in the first 9 months of the campaign.
- We opened our new educational building, doubling our facility square footage in the process. This has expanded greatly our ability to teach our children about Christ but it has also stretched our operating budget to new levels.
- We endured the most challenging economic environment seen in this country in nearly 70 years and in spite of that, our church finances are sound.
- Despite the gloomy economic environment and the kick off a major capital campaign, your general gifts and offerings increased by almost 18% from the previous year. This is truly remarkable from a Faith, financial capacity and historical perspective.
We believe the blessings the Lord bestowed upon us during 2009 are a reflection of stepping out in Faith to allow Him to be God. There really is no other earthy explanation for our 2009 financial result. Praise God!
Stepping into 2010, we will continue to honor God by directing10% of all giving to the Church back into the Missions Ministry. We have accommodated the challenge and joy of supporting a full operating year of expenses for the new building in addition to fully funding payments on the new building mortgage. We have made provisions to address some critical staff shortfalls along with some selected salary increases during the operating year. We have incorporated several modest ministry budget decreases where deemed prudent. Our proposed budget accommodates each of these on the expense side of the ledger.
On the income side, we look forward with gratitude and a keen understanding of how God can bless the Faithful as we establish the expectation for an additional 13% increase in giving during 2010. To some, this may seem underwhelming when compared with our ~18% increase in 2009. However, sustained double digit increases in operating budgets are unfortunately rare events in typical church financial records. We feel the proposed $3,375,000,budget for Tithes and Offerings reflects a balance between man’s calculated projections and what we believe God has in store for Mount Ararat Church. We are very excited.
We will hold an open meeting and discussion on the proposed budget at 3 PM on Sunday, January 24th in the Chapel. We ask you to review the proposed budget on the website and join us on the 24th with your questions and input.
The proposed budget for 2010 will be offered for approval at the Leadership Summit on Saturday, January 30th in the FLC. Again, we would like everyone to join us for this event as we continue God’s mission for Mount Ararat in Stafford and throughout the world.
Sincerely,
Joe Littleton, Cindy Gillies, Jim Martin, Tim Worley and Greg Poss
Proposed 2010 Budget Summary
| |
2010 |
2009 |
$ |
% |
2010 |
| |
Budget |
Budget |
Variance |
Variance |
Oper. Budget
|
| Income |
|
|
|
|
|
| Tithes & Offerings |
3,375,000 |
2,600,000 |
775,000 |
29.8% |
100.0% |
| Cash Reserve |
0 |
628,000 |
(628,000) |
|
|
| Interest Income |
0 |
2,000 |
(2,000) |
|
|
| Total Tithes & Offerings |
3,375,000 |
3,230,000 |
145,000 |
4.5% |
100.0% |
|
|
|
|
|
|
| Compensation & Benefits |
|
|
|
|
| Salaries |
1,471,552 |
1,431,164 |
40,388 |
2.8% |
43.6% |
| Social Security Taxes |
62,462 |
60,296 |
2,166 |
3.6% |
1.9% |
| Medical Insurance |
151,749 |
139,453 |
12,296 |
8.8% |
4.5% |
| Retirement |
69,612 |
69,612 |
0 |
0.0% |
2.1% |
| Business Expenses |
32,125 |
49,475 |
(17,350) |
-35.1% |
1.0% |
| Total Compensation |
1,787,500 |
1,750,000 |
37,500 |
2.1% |
53.0% |
|
|
|
|
|
|
| Mission Ministry |
337,000 |
260,000 |
77,500 |
29.8% |
10.00% |
| Senior Pastor Ministries |
22,000 |
22,000 |
0 |
0.0% |
0.7% |
| Mortgage |
550,000 |
530,000 |
20,000 |
3.8% |
16.3% |
| Administrative Ministries |
517,130 |
495,000 |
22,130 |
4.5% |
15.3% |
| Care Ministries |
5,170 |
10,675 |
(5,505) |
-51.6% |
0.2% |
| Adult Ministries |
37,000 |
39,315 |
(2,315) |
-5.9% |
1.1% |
| Student Ministries |
40,000 |
44,620 |
(4,620) |
-10.4% |
1.2% |
| Children/Preschool Ministries |
55,500 |
50,700 |
4,800 |
9.5% |
1.6% |
| Creative Ministries |
23,200 |
27,690 |
(4,490) |
-16.2% |
0.7% |
| |
1,587,500 |
1,480,000 |
107,500 |
7.3% |
47.0% |
|
|
|
|
|
|
| Total Expenses |
3,375,000 |
3,230,000 |
145,000 |
4.5% |
100% |
Proposed Detailed 2010 Budget (PDF)
Proposed 2010 Missions Budget (PDF)
Fiscal Year End 2009
Annual Audit (PDF)
Fiscal Year End 2008
Annual Audit (PDF)
Fiscal Year End 2007
Annual Audit (PDF)
Fiscal Year End 2006
Annual Audit (PDF)
Fiscal Year End 2005
Annual Audit (PDF)
Fiscal Year End 2004
Annual Audit (PDF)
Fiscal Year End 2003
Annual Audit (PDF)
|
