Dear GFUMC Members:
To say that we are experiencing unusual times would certainly be an understatement. Through mailings you have received from the church and highlights mentioned during worship services, you are aware of the innovative ways that the work of our church has continued in these challenging times. While we are not able to gather together, we continue to be fed spiritually through the online worship services, including the three powerful Easter services last Sunday. Our entire church staff is doing an amazing job under the most trying of circumstances.
As Chair of Church Council, I thought it would be important to share information with you about operational matters of the church. It is important that we are all aware of governance and financial issues that affect our ministry.
The General Conference scheduled for May 2020 has been postponed until next year. Bishop Sue’s Town Hall Meeting, which was scheduled for April 26 at our church and which would have addressed the Protocol that was to be considered at General Conference, has been cancelled. The cancellation of General Conference means that the church Discipline, as it presently stands, will remain in effect at least until next year’s General Conference. What this will mean in the interim remains to be seen. I think most people are rightly focused on the COVID-19 pandemic and the havoc it is wreaking on lives and economies.
Our church is not immune to the impact of the virus. Our ability to worship together and participate personally in ministry is affected. Also, the finances of the church are being negatively affected. Our Finance Committee met last Monday afternoon by video conference to assess the church’s financial condition.
Through March, our actual expenses in our Operating Fund exceed our actual revenues by $33,000. Giving by members is $140,000 below the budgeted amount. The reason our deficit is not greater is that we have reduced expenses resulting from our reduced programming during this time. We understand that many of our members are suffering significant economic losses at this time and that most members are doing the best that they can.
The Finance Committee is exploring all resources to help us weather this storm. We have obtained a Paycheck Payment Plan Loan, which is part of the stimulus package passed by Congress. Our loan is for a total of $378,019. Of this amount, $326,824 will be used to pay salaries that are part of the Operating Fund, and the remaining $51,195 will be used to pay Preschool salaries. It is our understanding that so long as these funds are used to pay these salaries and thus, keep these folks employed, the loan will be forgiven. We will not have to repay it. Needless to say, these funds will be used to pay these salaries. These funds provide significant relief to us.
Also, the Finance Committee has instructed Betsy Eubanks, the church’s Business Administrator, to pay only essential costs. Discretionary spending should be limited.
We all realize that we are in uncharted waters. We do not have enough data to accurately predict the future economic conditions. The Finance Committee intends to hold monthly meetings to stay on top of our financial condition. Once the Committee believes that it has sufficient data from which to project, the Committee will submit an amended budget to the Church Council for consideration. Until then, finances will be closely monitored, and we will meet our obligations.
Fortunately, we entered this time in sound financial condition. We have reserve funds available should they be needed. But at this time, the Finance Committee feels that drawing down those funds is not necessary. The hope is that we will soon return to a more normal place and giving will increase.
Your church leaders understand the importance of everyone staying informed as we move forward. I will continue to keep you abreast of any new developments. Our church has never needed us more than it does today. Thank each of you for your continued support of our church and its ministries.
Sincerely,
Rick Story,
Church Council Chair