Fall 2017 Financial Update

September 1, 2017
Fall 2017 Financial Update

As the Summer is wrapping up and we're making our way into the Fall, we wanted to provide a short financial update which we will expand on at our Core Gathering on September 17th. As many of you know, at the end of May, we transitioned our bookkeeping to ChurchShield Accounting Services. When ChurchShield received our book of accounts, they began the process of "cleaning them up" and making sure everything was in order. It took them the better part of three months, and in the middle of August, they were finally able to provide what they felt is an accurate financial picture.

Essentially, at this point in the year, we are operating at a deficit of $69,000. This is fairly close to what we projected when we presented the operating budget at end of January. We have tried to cut costs in all of our non-essential categories and are at a point as a staff where we are scrutinizing every dollar that we spend in the effort to be good stewards of what God has blessed us with. We feel confident that the second half of the year will see an even greater decrease in spending as a good many of our accounts see annual renewal fees at the beginning of the year that won't be an expense during the second half. But we are still "bleeding" an average of $2000 a week; mainly due to facilities, maintenance, and personnel costs.

Another factor in this deficit, as we have decreased our spending, is that we have also noticed a decrease in giving compared to last year's giving average. This is where you come in. Please prayerfully consider your giving to Bridgeway. If you are able to be more generous, we would encourage that. Perhaps you have been reserving your tithe as you wait to see how things will "shake out" at the church. Let me assure you that we are healthy and are more confident than ever of what we believe God wants to accomplish through the ministry of Bridgeway as we steward his resources. If you are new to Bridgeway and have yet to make a commitment to the church financially, prayerfully consider if now might be the time. 

As I stated above, we'll elaborate a bit more on this at the Core Gathering. Please make plans to attend it on September 17th at 6:00pm as we celebrate the past and look to the future. Thank you for all you do for the church and for the kingdom!

In Christ,

Kenny Panduku