In an effort to answer some common questions related to our budget during the COVID Shelter in Place order, the Finance Committee has compiled the following response.
How is the GMR budget responding since the Shelter in Place order was issued?
- We are grateful for your consistent giving to our church. We are not currently in a desperate financial situation, for which we are grateful. We depend on your regular donations to help us continue to operate and come alongside those who need assistance.
- Giving to our general fund helps us to continue ministry in many areas including continuing support for our missionaries and continuing pay for our staff.
Have expenses been reduced since regular ministry activities are no longer taking place?
- Our staff have collaborated and we have been able to reduce our ministry expenditures for the remaining portion of our budget year.
- Some costs are fixed but we have reduced in areas where we are able without ministry suffering.
What are the financial projections for the remainder of this ministry year ending on August 31, 2020?
- As we see how our giving comes in now through the end of May we will have a better idea of how to project our finances for the rest of this budget year which goes through the end of August.
- At the end of March we had enough in our reserves to commit to paying our staff and missionaries through the end of May for which we are grateful.
- In planning for the strong possibility there will be lean times ahead we were able to access the loan/grant from the Cares Act. This will enable us to pay our staff for an additional 8 weeks taking us into the end of July. This loan will be forgiven as we spend the money according to the guidelines provided.
- If giving remains stable in the coming weeks we feel confident we can commit to supporting our missionaries and paying our staff through the end of August.
What are the financial projections for the next budget year beginning on September 1, 2020?
- Every year at this time, we begin working on our budget planning for our next ministry year which begins on September 1, 2020. We base the dollar amount largely on our historical giving over the last couple of years. This year we will not be able to use that method since no one knows what to expect during these months.
- We will use the giving trend we see over the summer months to determine a forecast while knowing we will also need to prepare a “Plan B” if the giving begins to decrease.
If you have further questions or thoughts you can reach out to Becky Phillips, Director of Operations at