Below is the SOV 2021 budget, passed at an open Church Council meeting on January 25, 2021. The exhibit displays details for the 2021 budget alongside the 2020 budget and the actual 2020 data for comparison purposes plus the Q1 budget.
Through the first four months of 2021, Shepherd of the Valley’s financial results are a bit behind budget. Revenues for the church are $61,000 versus a budget of $67,000. Expenses through April 30, 2021 are $66,000 which is spot on a budget of $66,000. Thus, net income through four months is a loss of $5,000 versus a budgeted gain of $1,000. Revenues are lower than expected due to less-than-anticipated general giving to the church. Expenses are on budget, despite higher-than-expected utility costs. That adverse result was offset by favorable variances in a variety of expense categories. Our finances are in a modestly adverse position as we look toward the remainder of the year. Our hope is that the return to in person services will inspire our congregation to continue to give generously to our church. Our success in meeting our budget will depend on the wonderful and profound generosity of our church members. The important work of the church continues and with your on-going support we will continue to make a difference in our lives and those of others, both spiritually and physically.
The Finance Committee
SOV 2021 Budget Summary and Q1 Budget 012521