Budget Highlights

1. $142,500 budget
2. increase of 11% over 2022 budget (in line with record inflation of 7 to 9% in 2022)
3. continue to give 15% outside to partnerships, global missions, missions offerings, church planting, and local front line ministries
4. standard 2.5% staff COLA (based on Social Security COLA since 2000)
5. includes 5% equity increase for lead pastor
6. adjusting Luke’s position, equity and hours (see below)

Budget Summary

The 2023 budget of $142,500 represents a significant increase over 2022. This increase is in line with record domestic inflation of 7 to 9% in 2022. It includes a standard staff COLA (cost of living adjustment), as well as an equity increase for our lead pastor and adjustments to Luke’s position.

The General Offering includes both tithes and offerings, and is considered charitable giving for tax purposes by members, regular attenders and a few outside supporters. Other income includes giving from our partnerships as well as non-charitable giving where goods and services are provided. We take an annual Missions offering to support in-house mission trips and summer missions. This year’s offering has not yet been distributed and will be carried over and used for 2023 in-house mission trips.

Regarding the expense side, we at fxchurch give 15% of the General Fund to outside missions causes (GO). We can invest in kingdom work because we aren't making interest payments for brick and mortar. Our normal breakdown includes the following, but may be adapted as needed based on changing partnership dynamics. Missions giving includes national/state (7%) and local (3%) partnerships, direct support for global missions (1%), national missions (1%), and state missions (0.5%), as well as supporting area church planting (1%) and other local opportunities (1.5%) such as addiction recovery programs, pregnancy crisis, and homeless relief.

Our fixed costs (KNO) are significantly higher, including a slight increase in rent and adjustments to several staff positions. Our staff will receive a 2.5% COLA (cost of living adjustment), which is the average Social Security COLA benefit since 2000. In addition this budget includes a 5% equity increase in the lead pastor position to move closer to salary survey and benefit averages in our area. The final area of increase is to make significant adjustments to Luke’s position which started as a collegiate internship in communications back in 2017. Whereas Luke has received no significant increases these past 5 years, these adjustments include recognizing his increased responsibilities in communications, collegiate ministry, and shepherding; adjusting his compensation hours to reflect increased responsibilities; and giving him a 45% merit increase to bring him up to area wage surveys for ministry. Finally, the housing listed represents a portion of a pastor's overall compensation, and is line item-ed to show congregational approval in order to meet IRS guidelines.

Our discretionary spending is largely unchanged, adding an appreciation category for honorariums and partner gifts, and making small adjustments to a few other categories.

Budget Approval

$142.5K budget unanimously approved on Dec 25th, 2022.

Budget Summary