The Vestry is eager to share this quarterly update with you as finances are an important aspect of making it possible for us to share life together and to “encounter, embody, and extend the presence of Christ.”
Highlights from Apr – Jun
- Benevolence Fund gifts received of $5,091 and disbursements of $3,432 to four individuals/families for groceries, rent, and therapy. The current Benevolence Fund balance is $5,388 at the end of June.
- Clergy participated in the 81st General Convention of The Episcopal Church held in Louisville.
- Opened new accounts at the National Bank of Indianapolis and initiated the transition from Chase Bank.
| Year-to-Date (Jan-Jun 2024) | Budgeted | Actual |
| Income | $102,400 | $115,209 |
| Expense | $110,039 | $115,898 |
| Difference | -$7,639 | -$689 |
Perspectives on our Budget
- Based on approved budget estimates, we had forecast a significant deficit (>$7,000) by this time of the year due to increased expenses as compared with pledges.
- Instead, we ran only a slight deficit by the end of June (-$689).
- Although our expenses have increased versus the budget plan there was a significant increase in giving (general and benevolence) during the first half of 2024 that helped offset the difference.
- We appreciate the continued faithful generosity of all those who have shared their financial resources for our common life together.
Future Plans
- We are awaiting further details on increased operational costs and initial move-in costs for the new building to enable adjustment of the 2024 budget. A draft leasing and responsibilities agreement with the Indianapolis Diocese is under review. A new audio/visual system is a priority for move-in.
- We are seeking updated liability and worker’s compensation insurance policy estimates from the TEC-affiliated insurance agency to account for our needs and activities at the new location.
- The Vestry welcomes your questions and participation in the course of our life together. We invite you to join us, or continue supporting our operational and Benevolence Fund ministries, and thank you for your partnership in stewarding our mission.
