Financial Committee Annual Report for 2009
Resurrection Lutheran Church’s 2009 year-end financial statements showed that total income was down 7.01% from the 2009 budget. At the same time, total expenses for the year were down 10.53% from the 2009 budget. To put this in dollars, total income was $20,399.95 less than budgeted and total expenses were $31,484.88 less than budgeted. These spending cuts were achieved by simply not spending on some things and also by deferring maintenance and other items. Many of these cuts cannot be sustained over any great period of time.
2009 General Fund Income, excluding designated funds, was $262,600.05 as compared to $274,857.23 in 2008. This is a 4.46% decrease over last year.
Total mortgage payments made from designated funds was $46,926.00 of which $3,497.08 was interest paid and $43,428.92 was principal reduction. The outstanding mortgage balance on 12-31-2009 was $32,172.79. This debt should be fully paid by this summer or early fall.
Donations to designated funds, other than the building fund, during 2009 were $23,458.83 and expenditures of $23,256.50 leaves a year-end balance of $9,547.40 in the various funds.
Thank you to all that serve on the Finance Committee and a huge THANK YOU to Jason Anderson for serving as the financial secretary, Ron Good for doing the accounting, and Wilbur Wilkens for serving as Treasurer. Without their tireless dedication and donation of time and talent, we would not be able to function. We would also like to thank the offering counting team for their efforts in keeping the church finances running smoothly. Namely: Evelyn Eckroth, Joe and Ellen Chovan, Dale Haug, Rollie Krueger, and Wilbur Wilkens.
The past few years has seen financial hardship and concern throughout this great country and it has caused great consternation even in St. Joseph and Stearns County, Minnesota. Resurrection Lutheran Church has tried to be a good steward of God’s gifts and has attempted to manage its resources in such a way that it can continue to serve God’s mission throughout the area and the world. The church remains in a strong financial position with very little debt and a committed congregation and staff. Thank you all!!
Finance Committee Members:
Carrie Johnson
Pastor Dwaine Bruns
Joe Chovan
Dale Haug
Steve Johnson
Lance Mueffelmann
Jim Parsons
Dave Thralow
Jodi Keehr
Wilbur Wilkens-Treasurer
Rich Haselhorst-Chair