Christ Covenant End-of-Year Financial Snapshot – 12/31/2009

 

June 1 thru December 31

  • Income: $70,000
  • Expenses: $78,000

This timeframe represents the 7 months since Pastor Bill began ministry with Christ Covenant.

 

Observations: This period is fairly fluid

These totals include a number of one-time expenses and changes: one-time moving expense for Pastor Bill, the departure of part-time staff as David Fischer who moved to a new call for example.  It represents as well the summer months, which are traditionally low-income months for churches.  In the meantime, Christ Covenant has been blessed with growth during this period.

 

Missions and Benevolence

The Steering Committee intends to distribute 10% of General Fund offerings to Missions and Benevolence: roughly 5% to Missions and 5% to a Deacon’s Fund for Benevolence needs within Christ Covenant.  Organizations and ministries that have received benevolence gifts from Christ Covenant include Young Lives (Fredericksburg ministry to pregnant and parenting teens), Salem Elementary School (where we meet on Sundays), Young Life (area ministry to teens on high school campuses), Christian Brothers Transition Program (a ministry with recently released inmates from the Rappahannock Regional Jail), InterVarsity Christian Fellowship on the campus of University of Mary Washington, and the Evangelical Presbyterian Church.

 

Presbytery Support

The EPC Presbytery of the Mid-Atlantic has been sending support of $2,500 per month for the startup of Christ Covenant since Pastor Bill arrived.  This is seen as a “startup loan” that we intend to repay for other future church plants in our region.   This money has been held separately in our book-keeping and is not included in the totals above.  Our goal is to become self-sustaining as soon as possible and return the money quickly.

 

Evangelical Presbyterian Church Book of Order Requirements

In Presbyterian churches, the congregational budget is adopted by elected representatives of the congregation, the Session.  Since Christ Covenant is a Mission Church and has no constituted Session yet, Pastor Bill and the Steering Committee function with this role.  The EPC, our denomination, is a member in good-standing with the Evangelical Council for Financial Accountability.  Our Book of Church (Book of Government G.16-7D) establishes an annual audit of local church financial records.