Budget Highlights

1. $147,500 budget for 2024
2. increase of 3.5% over 2023 budget, or 5K
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. increase in administrative costs due to spiraling insurance costs, and substantial price increases of all cloud services
6. anticipating Minister’s Housing Allowance for college pastor position starting April 1
7. minor changes to discretionary SHO and GRO categories, including +$500 for college and fellowship (meals)

Budget Summary

The 2024 budget of $147,500 represents a modest 3.5% increase over 2023. It includes a standard staff COLA (cost of living adjustment), and covers an increase in our administrative costs.

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) include a slight increase over 2023. Administrative costs have increased substantially due to rising insurance costs, as well as an increase in all cloud services. Our staff will receive a 2.5% COLA (cost of living adjustment), which is the average Social Security COLA benefit since 2000. 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. It includes a new line item for college pastor, which we are preparing to utilize beginning April 1.

Our discretionary spending (SHO and GRO) shows small adjustments to a few categories, as well as a $500 increase in both collegiate ministry funding and fellowship meals. We have consolidated Classes and Groups into one category called Discipleship.

Budget Approval

$147.5K budget unanimously approved on Dec 17th, 2022.

Budget Summary

(swipe left on a mobile device to see 2024)