A Letter from the Treasurer: Stewardship 2025

Dear Parishioner:

While we are all enjoying the Fall weather and looking forward to Thanksgiving and Christmas with our families, as Treasurer, I wanted to update you on an important topic in the life of the church; stewardship and finances.

You may not know that due to a myriad of factors, the 2024 Stewardship campaign fell short of its goal. The resulting shortfall, coupled with inflationary pressures on operational expenses and overhead associated with staffing in support of a growing parish, put immense pressure on last year’s annual budget. Even after significant efforts by our parish staff working with the Finance Committee and Vestry to control costs, we were left with a projected budget deficit of over $100,000 for 2024. The decision to enter the fiscal year with a deficit budget was reached only after serious consideration, prayer and in recognition of the fact that we had positive cash flow in 2023 of $108,678. In short, we offset the 2024 budget deficit using additional cash on hand coming out of 2023.

We have managed expenses closely throughout the year and are tracking $48,283 under budget on that side of the ledger YTD, but it is yet to be seen as to whether we will collect all of the budgeted revenue for 2024 (Friendly Reminder: Please make sure to fulfill your 2024 pledge by year-end).

With that background in mind, it is our earnest desire to make every effort to balance the budget for 2025 through a successful stewardship season and continued very careful management of our expenses. To achieve this objective, we need to beat our current $1,500,000 Stewardship goal, by a healthy margin. True success will require pledge receipts in excess of $1,625,000. To that end, your support in 2025 will have a direct and meaningful impact on Saint James’ ability to maintain and continually improve our many ministries, programs, maintain our wonderful church facilities, and continue the growth of our parish; as well as the impact we are able to make within our community and region in during the upcoming year and beyond.

1. In every decision we make, both personally and collectively with regard to our support of Saint James, we are setting the course for our church’s future and by extension, its ministries and service to our region.

1. We believe it is critical that we operate the church and continue this work without invading our cash reserves or sacrificing the prudent management of resources entrusted to us by parishioners past and present. As an example, we are the stewards of a historic church facility spanning an entire city block. Its upkeep requires constant attention and investment. We forecast well in excess of $1,000,000 in repairs and maintenance within the next five years.

1. Yet, we are not called to simply maintain the status quo. The needs of our community are great, and we are called to continue to serve those less fortunate than us.

It is important that we preserve our cash reserves rather than deplete them on operating expense deficits and this is why your annual pledge is important to the life of the parish.

We are all blessed with individual time, talents, and abilities, none more important than the others and all imperative to the health of our parish. Thank you for prayerfully considering how you may be able to support the ministry of Saint James in 2025.

Sincerely,

Mike Brown

Treasurer