Please note that donors who had an active "Estimate of  Giving" for the building fund received a letter at the end of December that included two pages which did not print properly.  The corrected versions of these pages are available by clicking <<<HERE>>>

UNIFIED BUDGET INTRODUCED FOR 2012

At the November Church Council meeting, our finance committee was directed to develop a “unified budget” which would encompass both the operating expenses of the church as well as the principle and interest on our remaining building debt. In the past, the expense of our debt has been handled separately through gifts to the building fund. Likewise, operating and programming expenses were handled through “Operating Budget” giving. As a result, you previously had been invited to make separate gifts/pledges to support the church through these two avenues of giving. This is about to change.

Beginning in 2012, Seaside’s budget will reflect all expenses related to general operations, including regular principle and interest payments. It is our belief that this will both simplify giving for you, the donor and will greatly enhance our ability to convey the full financial picture of our church as we move through the year.

In order to make this transition, we are inviting you to consider combining your current giving to our Operating Fund and your building fund gifts as we move into 2012.  For some, this may be as simple as writing a single weekly or monthly check rather than two. For others it may mean combining weekly operating fund giving and monthly gifts to the building fund. We recognize as well that there may be some who still prefer to make separate gifts, or to designate a portion of their giving directly to the building fund debt. Please know that any gifts that are designated to the building fund will continue to be used exclusively for that purpose. However you choose to make this transition, we thank you.

Finally, we have provided a simple form, available on our website, that will allow you to make any appropriate adjustments to your estimates of giving for the building and/or operating funds. Completing this form and returning it to our Financial Secretary should help to ensure that your giving is properly reflected on your giving statement next year. 

This transition has long been a goal of the Finance Committee. But it has been your generosity through the years that has made this step possible. We thank you for your continued, consistent and faithful stewardship that will enable us to move into the future that God has envisioned for Seaside United Methodist Church. 

·         What will happen if I just continue to give to the two funds separately?

All gifts to the building fund will be assigned directly to the line-item for principle and interest on the debt.  All gifts to the operating budget will be used for operations.

·         Will we continue to have two “campaigns” (one for building and one for operations)?

No.  There will be a single stewardship campaign in the fall of 2012.

·         Will this change the amount of our operating budget significantly?

Yes. Compared to 2011, the budget will be increased to include monthly principle and interest payments of approximately $10,000 (other items will remain close to their 2011 levels). Therefore it is important that you understand that we are asking members to “combine” their giving, and not to stop giving to one or the other fund.  The total of the combined giving to both funds should easily cover the necessary budget adjustment.

·         Are we finished paying on the debt?

No. Our debt stands at approximately $1.6 Million.

·         What about the proceeds from our Country Fair?

It is our hope that the combined giving to the unified budget will be adequate to cover operations and the budgeted portion of the principle and interest, leaving the fair money for Outreach ministries and as a source of additional principle to pay down our debt faster.  During the transition, however, some fair proceeds may need to be allocated for operations.

·         Will we still make extra principle payments to pay off the debt sooner?

Yes.  Additional principle payments may be made through special (designated) gifts to the building fund, fair proceeds, as well as surplus income at the end of the fiscal year.

My building fund pledge runs through June of 2012, how should I handle this? If you have been giving regularly to the building fund (quarterly, monthly or weekly for example), we ask that you extend this to reflect a full year through December 2012.  Annual or “lump sum” gifts (including gifts of securities/stocks/bonds) continue to be appreciated in whatever form they are offered.

Download a copy of these Frequently Asked Questions and an Adjustment Form allowing you to combine your 2012 Building Fund and Operating Budget Estimates of Giving into a single EOG for the Unified budget. <<<Click HERE>>>