February News Regarding the Foundry Management Board

Tuesday, February 24, 2015

Foundry Management Board approves $1.89 million budget


The Foundry Management Board, a nine-person elected group, meets monthly to discuss and make decisions regarding the management of the church. This report covers the February 2015 meeting.


The Foundry Management Board on Feb. 24 approved a $1.89 million budget for 2015 and voted to close the 2014 budget deficit by using operating reserves.


This year’s budget represents a 1.31% decrease from the 2014 level of $1.92 million. Most of the money is being allocated to personnel expenses – $1.04 million, a 3.61% increase. Program spending dropped by 25.7% to $125,250.


Within the program part of the budget, worship and music decreased 35% to $33,750; education remained level at $26,300; hospitality and care decreased 49% to $13,000; and social justice decreased 19.3% to $52,200. Music did increase in the administrative part of the budget.


The operations budget, which includes building maintenance, office support, communications, stewardship and utilities, was set at $725,765, a 2.4% decrease.


Foundry’s apportionment to The United Methodist Church decreased 16.7% to $227,515.


Church revenue comes from the expected fulfillment of $1.47 million of stewardship pledge contributions as well as cash from non-pledge gifts and loose plate collections.


The board also voted to close the budget gap for 2014 by allocating $184,895 from the operating reserve, leaving the fund at $485,448. The 2015 budget as approved is balanced without tapping the reserves further.


The budget includes a pay adjustment of 1% for individual staff salaries that will be allocated at the discretion of Foundry Executive Pastor Foundry and Chief of Staff Dawn Hand. The raises could be slightly higher or slightly lower than 1% per staff member, depending on the distribution.


Hand and Foundry Senior Minister Ginger Gaines-Cirelli declined salary increases for 2015 in order to increase the amount of money available for staff raises.


~ Written by Mark Schoeff Jr. on behalf of the Mission Possible Communication Ministry Team.