Finance Committee Report

The following Budget Planning Statement provides the total Revenues and Expenses for St. Paul’s, under the 2015 Actual Columns, with a comparison to previous year’s statements. The far right hand column also provides the 2016 Budget prepared by the Finance Committee and approved by the Board. Also enclosed is a Statement of St. Paul’s Financial Accounts as of December 31, 2015.

The budget was prepared on the assumption that we will be able to get a replacement minister commencing July 1, 2016. If this is the case our reserves and annual income should hopefully cover our expenses for approximately another four years, based on our past two years deficits and forward projected budgets. If we are not able to attract a replacement minister, while less desirable, financially we could probably operate for a considerably longer period if pulpit supply ministry remains available.

Undoubtedly the most desirable long term future arrangement for St. Paul’s financially and operationally, would be to somehow convince another congregation of the mutual benefit to all of a shared ministry agreement. St. Paul’s could readily continue to cover the maintenance and operational costs if ministerial costs were split with another congregation.

Submitted by Finance Committee - Gary Rice, Dennis Scutchings, Howard Saaelhof

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