FPCA’s Financial Picture


First Presbyterian elders for finance address aspects of the church’s fiscal status BY BOB MARTIN AND LARRY ERICKSON


As we presented at the annual meeting on February 11, preliminary (unaudited) balance sheet results show total assets have increased compared with last year by $433,976.87, driven primarily by the Endowment Fund Assets line items. Endowment Fund Assets increased compared with 2016 by $389,785. The Investment team led by John Norris reported that overall, 2017 was a very good year for our investment portfolios. For the second year in a row, most every asset was positive, with the Faithful Servants Endowment Fund showing a return of +12.63% (net of fees).


Te General Fund was well managed this year with a resulting surplus of $14,863.07 at the end of 2017. Total receipts were over budget by $1,250, with expenses under budget by $13,461. Session approved an audit review, which will be undertaken in the spring, after which year-end results will be finalized and the Session will act on the operating surplus.


ANNUAL PLEDGE CAMPAIGN


Larry Deal, church business administrator, reported that the number of pledging units decreased by 7.6 percent over 2016, yet total pledged dollars were up by 5.9 percent. Tis trend has been steady for the past several years at FPCA, and is consistent with a national trend toward lesser numbers of pledging units with comparable giving in terms of dollars. On May 1, the Session will add another elder who will focus on the Annual Campaign Team, Planned Giving Team, and other possible revenue sources for 2018.


2018 BUDGET


As mandated by Session again this year, we will have a balanced budget without using reserve monies to balance. In building the 2018 budget, the combination of pledge dollars, non-pledge income estimates, interest, and other income categories produced an estimated total revenue stream of $1,710,195.


Te combination of pledge dollars and non-pledge dollars increased by 3.9% over 2017 actual performance. Estimates of expense need were provided by our budget managers, and all requests were provided for in the 2018 budget. Te Session approved the 2018 budget at its December meeting.


10 Highlights worth noting include:


• Mission giving has increased by 8.3 percent over the 2017 budget.


• A provision of dollars has been made for enhancing security at our facility in light of tragedies at other


churches.


• A new assessment of $5,000 from the City of Allentown for storm water runoff has been included.


For further review, (including charts and graphs), members are encouraged to contact the church office for a copy of the 2017 Annual Report or refer to FPCA’s website, www. fpcallentown.org.


We’d like to extend our appreciation to members of the budget team, who include David Haight, John Norris, and ad hoc members from the staff, along with head of staff Jack Haberer, and Larry Deal for their guidance and effort this year. We look forward to working with Jack, Larry, and the Session to accomplish the goals reflected in FPCA’s Vision Statement and further the congregation’s mission in the Lehigh Valley and the world.


Tis graph shows a breakout of planned 2018 expenditures per ministry area.


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