Hope Fellowship Budget

Hope Fellowship establishes a budget to help guide the use of the financial gifts we receive in a stewardly way.  The budget covers the day-to-day expenses of the church, funds the various ministries at Hope Fellowship, covers the salaries and stipends of staff and covers the Ministry Shares that we have committed to for Classis Quinte (the CRC churches in our area) and the CRC Denomination, both of which we are a part.  This budget covers the operating expenses each year and includes only interest payments on our current mortgage.  Payments towards the mortgage principle are handled through the Building Fund.

The Administrative Board is responsible for overseeing the budget and submitting it for approval to the church membership the Spring Membership Meeting each May.  The budget is compiled by the Treasurer from submissions from each ministry within the church.  Our fiscal year begins on July 1st.   For questions about the budget, please contact the Treasurer or the Admin Zone Coordinator.

Donations towards the budget can be made using the envelopes provided on Sunday mornings by marking the amount beside the Budget line.  In addition, HopePAD (pre-authorized donation), an Electronic Transfer of Funds can be set up by completing a form and forwarding it to our Treasurer through the office.

2011-2012 Budget

The 2011-2012 budget was approved at the Spring Membership Meeting this past May.  For the fiscal year July 1, 2011 to June 30, 2012, Hope Fellowship has passed a budget of $462,156, a decrease of 1.1% over the previous year.  A copy of the budget can be obtained here.  The approximate amount required each month is $38,513 or $8,887 per week.

Giving to Date:

As of November 6, 2011, we have been blessed with donations totalling $151,616 towards the budget.  Our budget to that date is $168,864.69 resulting in lost opportunity for mission outreach of $17,248.69.  

 

Giving in 2010-2011:

As of June 30, 2011 (the end of our fiscal year), the income received from giving towards the budget was $417,806.92. Based on our budget of $467,541, this represents a budget shortfall of $49,734.08.  Our year-end expenses were $458,607.00 which resulted in a deficit of $40,800.08.  A detailed financial statement will be available shortly.

Giving in 2009-2010:

As of June 30, 2010 (the end of our fiscal year), the income received from giving towards the budget was $398,369.52. Based on our budget of $448,933, this represents a budget shortfall of $50,563.48.  Our year-end expenses were $408,685.51 which resulted in a deficit of $10,315.99.  A detailed financial statement can be found here.