If Father Kyle’s weekly report has gone missing, it probably means summer is upon us,
providing an opportune time to ruminate on budgetary matters. In brief, revenues
received through the end of May are 8% higher than budgeted. This is partly due to
parishioners accelerating their pledge giving, and additional support from newcomers to
our growing parish. However, operating expenses through May were approximately
10% higher than projected, partly because we underestimated utility costs in our
budget. While it may be difficult to recall during a heat wave, the 2024-25 winter was the
coldest in a decade. Further, our more intense use of the Parish House led to higher
than anticipated heating and cooling bills.
During the first half of 2025, we withdrew $20,000 from our endowment in addition to
the regular distributions provided by our investment manager. This higher withdrawal
was projected in our budget, so our net surplus (the difference between all revenues
and expenses) was just over $3,000 through May. After accounting for the first-half
withdrawal, the balance of our endowment at the end of May was $432,000, only
modestly below the $436,000 balance in May of 2024.
Many thanks to all those who supported our 2025 capital campaign, which raised just
over $175,000. Your support is much appreciated! One of the projects made possible by
this fund is a new roof for our Retreat House, which we expect to be completed in
August. From a budgetary perspective, many capital improvements lower ongoing
repair costs in addition to enhancing our buildings and property, further advancing our
efforts to manage a sustainable budget.
The Church of the Good Shepherd has been blessed to see many new faces in our
congregation during the first-half of 2025, giving us renewed energy in worship. As a
reminder, our financial goals include making the necessary investments to support and
enhance the worship and music we cherish as an Anglo-Catholic parish. We are
balancing the use of our endowment fund with other means of support to reach a
sustainable balance between ongoing operating costs and recurring revenue. If you
have questions about these initiatives or want to join in the effort, please contact me or
any other member of the Finance Committee.
Yours in Christ,
Jonathan Adams
Rector’s Warden