Chairman, Finance Committee
February 2019
Annual Report, Finance Committee
We had a good year in 2018. Although we fell short of our budgeted giving goals, we also spent less than budgeted and ended up in the black by $44,430. On an even more positive note, giving was up 5.77% over the previous calendar year. I thank the Lord for the generosity of the congregation and the fiscal restraint of the Pastor and staff. Below is a condensed summary of Income and Expenses for the year. A detailed report is available in the office or from Finance.
| General Fund Income | 2018 | (Compared to budget) |
| Giving | $461,940 | 96% |
| Other income | $80,058 | 101% |
| Total Income | $541,998 | 97% |
| General Fund Expenses | ||
| Payroll expenses | $303,787 | 95% |
| FICA | $22,691 | 93% |
| Staff expenses | $52,481 | 85% |
| Transition/consulting | $490 | 49% |
| Connections | $2,498 | 72% |
| Outreach | $7,683 | 76% |
| Worship | $9,485 | 96% |
| Property | $32,106 | 53% |
| Discipleship | $3,891 | 46% |
| Finance | $21,629 | 91% |
| Office | $2,791 | 83% |
| Operations | $38,056 | 120% |
| Total General Fund Expenses | $497,588 | 89% |
| Net General Fund Income | $44,410 |
In 2018, Mission Giving was separate from General Fund Giving. Designated giving is still separate from General Fund giving; but, what used to be Undesignated Mission Giving is now being pulled from General Fund giving – 7% of General Fund giving. We’ll see how this works and adjust it as necessary in the future.
Since we are a non-profit, the Net General Fund Income will be reintroduced to Property’s budget for 2019, to mainly be spent on roof repairs. We had to take from that area to propose a balanced budget and this restores it.
The 2018 Mission Giving is summarized below.
| Missions We Support | 2018 | % of Goal |
| Rainbow Acres | $2,503 | 89% |
| Discretionary Outreach Funds | $2,973 | 88% |
| Redwood Glen Camp | $7,479 | 222% |
| CityTeam Women's Ministry (San Jose) | $3,769 | 96% |
| Korean Church, Pastor Paul & Susi | $3,965 | 88% |
| NAGA (Hope) | $12,154 | 241% |
| New Church Plant Fund | $4,956 | 88% |
| National Ministries | $3,469 | 88% |
| Regional Ministry | $3,469 | 88% |
| ABSW Operating Budget | $2,478 | 88% |
| International Ministries | $2,478 | 88% |
| Lauran Bethel (Human Trafficking) | $3,297 | 94% |
| Mylinda Baits (Human Trafficking) | $3,297 | 94% |
| Kyle & Katrina Williams (Congo) | $3,097 | 88% |
| Melanie Baggao (Lebanon) | $3,472 | 99% |
| Special Offerings | ||
| America For Christ | $1,435 | 65% |
| One Great Hour of Sharing | $2,840 | 95% |
| World Mission Offering | $1,900 | 56% |
| Retired Ministers & Missionaries | $90 | 9% |
| Total Mission Giving | $69,122 | 105% |
This doesn’t include items donated for HOPE Silicon Valley, Trunk or Treat, SF Homeless Outreach, Seafarer’s ditty bags, or the many other efforts supported by all of us. We are definitely a giving church.
Jim Garvey
Chairman, Finance Committee