Financial Landscape of Orchard Park Presbyterian Church
"Explore the financial landscape of Orchard Park Presbyterian Church as of September 30, 2022, including details on operating funds, restricted funds, endowment funds, and revenue analysis. Learn about budgeted revenues, expense management, personnel costs, and more insights into the church's financial operations."
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Presentation Transcript
Financial Landscape Orchard Park Presbyterian Church October 30, 2022
Financial Landscape Topics Did You Know? Review 2022 Interim Financial Results and Operations Questions and Answers
FINANCIAL LANDSCAPE (As of 9/30/22) Church 2022 Operating Fund Annual Budget $1,200,728 Crossways Fund $1,732,143 Program Restricted Funds $122,713 (-21%) General Endowment Fund $1,088,697 Memorial Funds $34,310 (-19%) Yellow arrows indicate increase or decrease since beginning of the Year
Did you know? In 2022 we started with over $63K in supplemental income as a result of the 2021 Annual Surplus Also, weare supplementing Building Operations costs for capital improvements in 2022 from Restricted Funds (Est $60K) and Youth related expenses from the Crossways Endowment (projected to be $100K) The last 5 years, we have averaged $98K each year pulled from Crossways/General Endowments for OPPC activities operations for almost $500K over the past 5 years. This is primarily how we have been able to have a modest surplus the past 5 years on average of $59K for the operations of the church
Did you know? In 2022, we have a total of $987,000 budgeted pledged revenues (82% of total budgeted revenues) vs 2021 pledged budgeted $903,000 (9.3% increase) However, revenue pledge units have been decreasing since 2013 from 251 family units to 165 units in 2022 (34% decrease) Personnel cost is roughly 52% of the total operating expenses and combined with Property/Finance is 84% of the budgeted combined 2022 operating expenses Overall, total expenses the past 5 years have remained relatively stable due to controlling costs by leadership
Did you know? Our Learning Center has contributed over $30K in Revenue for OPPC Operations in 2022 Our Presbyterian Loan balance is $552,650 with 125 months remaining at 2.984% interest rate We have a total of 28 personnel OPPC church has 13 staff (2 full-time ministers, 5 Full-Time staff and 6 part-time staff in nursery and facility maintenance/setup); OPPC Learning Center has 15 staff (1 full-time Director and 14 part-time teachers)
September 30, 2022 YTD Financial Position OPPC 2022 Operations Fund - September YTD Results: Total Revenues of $895,242 (vs $924,717 in 2021) Total Expenses of $852,978 (vs $870,330 in 2021) Net Results: 2022 Interim Surplus of $42,264(compared to $54,387 as of 9/30/21) Total Revenues are slightly below budget by $5,304 due primarily due to higher than anticipated unpledged contributions offsetting pledged revenues below budget Total Expenses are still under budget YTD by $47,568 due to anticipated personnel costs expected to occur in the Fall and delayed Building/Property expenses, until later this year, for higher than budgeted building and maintenance costs
September 30, 2022 YTD Financial Position Summary Overall YTD OPPC is in fairly good financial health this year. If we continue the financial/operations pace and no significant unexpected building repairs or maintenance costs for the remaining 3 months, we likely may have a small surplus for 2022 year However, without the supplemental income from Restricted Funds; Crossways support for Youth; and the 2021 surplus, we would be in a negative (deficit) position for 2022 year
So, what does this mean for next year? 2023 Preliminary Budget Plans as of October: Operating Revenue - assuming a successful stewardship campaign, we should have a modest increase of 5% Operating Expenses - are projected to be 14% higher than 2022 budgeted amounts primarily due to increases in Personnel costs (20%) and Building/Maintenance costs (8%) leaving an expected shortfall Summary Prelim View of 2023 Operating Budget planned deficit due to major cost increases will need to be addressed for potential operations gap (deficit), and work with Session for cost reductions/supplemental revenue from General/Crossways, and Restricted Funds and other financial options to balance the budget
Thank you all for your continued commitment and support to OPPC!
Financial Contacts John Sanders Finance Chair jsandersindy@gmail.com John Lentz Memorial and Endowments jelentz@gmail.com Lynn Werchenthien Learning Center evelyn.werckenthien@gmail .com Gary Jones Building & Property gajones91468@gmail.com Bari Faudree Treasurer barifaudree@gmail.com Mary Leffler OPPC Administration mleffler@orchardpark.org Joe Jansen OPPC Bookkeeper jjansen@orchardpark.org For additional detailed OPPC areas or programs, the responsible Elders are also available to answer any specific or detail questions you may have regarding their areas. Each Elder is responsible for managing their own budgets and approval of all expenditures and managing expenses under the OPPC Policies
