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How We Stand – 2011 YTD?

How We Stand – 2011 YTD?. Revenue Summary. 2011 Budget ( For Full Year ) $ 3.37 million 2011 YTD Budget (as of 09/30/2011) $ 2,527,739 2011 YTD Actual (as of 09/30/2011) $ 2 ,503,538*. * YTD Actual Revenue is 99.3% of YTD Budgeted Revenue. Historically – At 9-30 How Do We Compare?.

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How We Stand – 2011 YTD?

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  1. How We Stand – 2011 YTD? Revenue Summary 2011 Budget (For Full Year) $3.37 million 2011 YTD Budget (as of 09/30/2011) $2,527,739 2011 YTD Actual (as of 09/30/2011) $2,503,538* *YTD Actual Revenue is 99.3% of YTD Budgeted Revenue

  2. Historically – At 9-30How Do We Compare?

  3. Looking Back at Revenues

  4. 2011 Revenue By Category Assessments Curacy Training Grants Other Income Transfer from Strategic Reserve 91.0% 5.6% 0.5% 2.9%

  5. 2011 Assessment Overview Assessment Budget Per Formula: $3.1 million Assessment Budget after Adjustments: $3.0 million Assessment Adjustments for 2011: $112,551(4% of the original budget) (21% in 2010)

  6. How We Stand – 2011 YTD Assessment Summary 2011 Budget (Total Adjusted) $3.0 million 2011 YTD Budget (as of 09/30/2011) $2,252,769 2011 YTD Actual (as of 09/30/2011) $2,217,369* *YTD Assessments Received is 98.4% of YTD Budget

  7. Assessment Payments – Sept 2011

  8. Assessment Payments – Sept 2011

  9. Historic Look at Assessments

  10. Looking Back at Assessments – Part II

  11. How We Stand – 2011 YTD Assessment Summary 2011 Budget (Total Adjusted) $3.0 million 2011 YTD Budget (as of 09/30/2011) $2,252,769 2011 YTD Actual (as of 09/30/2011) $2,217,369* *YTD Assessments Received is 98.4% of YTD Budget Historically, 93% of Total Adjusted Assessments are paid.

  12. 2011 Expenses

  13. How We Stand – 2011 YTD Expense Summary 2011 Budget (Total) $3.37 million 2011 YTD Budget (as of 09/30/2011) $2,527,739 2011 YTD Actual (as of 09/30/2011) $2,440,240* *YTD Actual Expense is 96.5% of YTD Budgeted Expense Operations are currently $63,300 under budget.

  14. 2012 Assessment Revenue Assessments Per Formula Budgeted Allowance – Assessment Adjustments Budgeted Allowance – Uncollected Assessments Transfer from “The Strategic Reserve” Other Income 2012 Budgeted Revenue $3,076,939 ($60,000) ($140,000) $185,000 $183,500 $3,245,439

  15. 2012 Expenses By Strategic plan category 2012 Budgeted Expenses One Church Mission Oriented Building Leaders Diocese as Resource $1,560,539 $676,300 $245,850 $727,750

  16. Allocation of Staff Costs 2012 Expenses One Church Mission Oriented Building Leaders Diocese as Resource $345,897 The Episcopate Direct Program Staff Costs $230,598 $638,147 $922,392 $345,897

  17. Strategic Plan/Ministry Allocations

  18. 2012 Expenditure detail

  19. “The Strategic Reserve” • Created in 2007 • Funded by the proceeds from a negotiated transfer of assets to: • Christ Church, Plano $1.2 million • St. Matthias, Dallas $300,000 • Transfer resulted in an annual lost assessment income: • Christ Church, Plano $400,000 • St. Matthias, Dallas $50,000

  20. “The Strategic Reserve- Part II” Also Known as “The Sinking Fund”. . . . .

  21. Our Bishop’s Challenge For 2012 Undertake the necessary financial planning (“Think Outside the Box”) coupled with forward vision and prayerful deliberations in order to make changes to the Diocesan Budget in 2012 which will enable:

  22. Our Bishop’s Challenge - Part I • Starting in 2005, Diocesan funding for a number of community organizations was phased out over a 3 year period. The Finance Committee responded to our Bishop’s challenge to shift decisions on charitable giving and local outreach ministries to our missions and parishes. • As examples, organizations no longer funded by the Diocese include: • St. Philip’s School • Our Friend’s Place • Austin Street Shelter • Genesis Women’s Shelter • The Wikinson Center • Randy Sams Shelter • BASK Center

  23. Our Bishop’s Challenge - Part II The second phase of our Bishop’s Challenge focuses on (1) spending our “treasure” more effectively while (2) directing Diocesan funding towards: • New church plants • Evangelism • Clergy development • Resources for Missions and Parishes • Hispanic ministry • Camp All Saints • Development of The Center for Anglican Studies • The Ministry of the Episcopate

  24. Our Bishop’s Challenge - Part III • Reduction of each of the Diocesan Assessment Brackets by 1.0% for the 2013 Budget • Elimination of withdrawals from The Strategic Reserve post fiscal year 2012

  25. Our Bishop’s Challenge – Part IV Annual Diocesan Revenues would be reduced approximately $325,000 How would these changes impact total Diocesan revenue? • The annual average for transfers from The Strategic Reserve averages $150,000/year • A 1% reduction across all assessment brackets would decrease revenues by approximately $175,000 (using 2012 figures)

  26. The Way Forward The Bishop’s Challenge will be the focus of the Finance Committee in 2012: Develop a financial model for the Bishop and the Executive Council that would enable the required revenue reductions. Foster stewardship among our Diocesan family to insure our Assessment revenue stream is secure an growing as our family grows. Develop alternative sources of revenue to support those Diocesan programs that are at the core of our lives together as a Community of Jesus Christ.

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