YKUC Financial Picture
Margaret
YKUC Financial Picture
Yellowknife United church is very fortunate to have wonderful support from the congregation through participating in church events and with the financial offering that you make. I really want to emphasize this. Thank you for all that you give and all that you do.
It is always difficult to talk about finances particularly when it comes to the church. The fact is that the financial picture of the church is an important aspect of church life and a way that we show that support.
There could be some financial difficulties ahead. You may remember from our February Financial meeting that the church is showing a deficit budget for 2024 of $19,900. Local offering is used for the operations of the church and the manse. The congregation is very fortunate that we do not have to pay any utilities for the multi-purpose area so local offering helps covers personnel costs, general administration costs including insurance, committee expenditures as well as the operating costs including utilities, insurance, and repairs for the manse. Local offering makes up 38% of our projected yearly revenue. It is worth noting that the local offering dropped in 2023 to $53,709 while the average givings over the previous 4 years was $62,568. Room rentals and fundraising make up 59% our proposed revenue.
At the same time the 2024 budget for the capital fund has been increased to $10,000 (an additional $5500 over our usual request). This is because the Property & Maintenance committee have identified that the woodstove in the manse should be replaced with a pellet stove and the old furnace (installed in 2005) may soon need to be replaced.
The Mission & Service fund is money designated and paid to the United Church of Canada nationally, where is used to fund programs and support groups and activities both in Canada and abroad. The budget for 2024 has been set at $18,000, which is lower than previous years and in line with 2023 actual givings.
People, when they are considering Pre-Authorized Remittance, more commonly known as PAR, often ask me how much they should put in or what they are expected to give. This is such an individual thing for people that there really isn’t an answer. Each person should make their own decision as to how to support the work of our church and hopefully the information today will help you make your choice.
Here’s some food for thought. There are 40 identifiable people/families who financially contribute to the work of the church. Years ago I heard that our congregation was in a sorry financial state – the question asked was how often do you pick up a coffee and maybe a snack and how much does it cost you. If everyone would increase their offering by $5 a week, that would make up half of our deficit.
This email has an attachment with an analysis of church offerings for 2023. On the handout are some comments with some statements comparing 2023 to 2022. Overall our offerings decreased by 8% or $6,065. Fourteen people/families decreased the amount they gave in 2023 while ten increased their givings. Nine people/families gave over 70% of the total amount received. Five people/families either cancelled their PAR and/or moved away.
If you would like any further information, please send me an email at ma...@theedge.ca.