Bobservations: 2020-21 Fiscal Year Recap
The fiscal year ended on September 30, and the financial team has been busy wrapping up the year. Sunridge, all I can say is wow! While we are still busy providing our CPA firm (Shaffer & MacRae) with all the information and reports they need to complete their financial review for the bank and elders, there are some praiseworthy numbers I cannot wait to share.
2020-21 Fiscal Year Highlights
- Budget – Sunridge started the 2020-21 year with two possible budgets. In faith, we went with Budget A with a plan to scale back if necessary. The Budget A annual total: $1,494,580, a reduction of 9.4% ($155,065) from the prior year.
- Offering – For the 2020-21 fiscal year, offering (not including rental or other income) totaled $1,284,390, 14% ($210,190) below the budget.
- Spending – For the 2020-21 fiscal year, spending (including all non-expense items like mortgage principle) totaled $1,273,265, 15% ($221,314) below budget.
- Cash Flow – Total income for the 2020-21 fiscal year $1,302,847 against the total spending of $1,273,265 shows Sunridge finished the fiscal year with a $29,582 positive cash flow.
- PPP Forgiveness – During the 2019-20 fiscal year, Sunridge applied for and received a PPP loan as part of the CARES Act. In the 2020-21 fiscal year, Sunridge received 100% loan forgiveness converting the loan into a grant. Praise God!
- Money Market/Savings – Sunridge remained steadfast in rebuilding the emergency fund, increasing it by $12,000.
- First-Time Givers – We sent a total of 42 letters to people who financially invested in what God is doing at Sunridge for the first time.
These are just a few of the highlights of how God is working through your faithful financial support.
A Letter from Pastor Britt
On October 12, Britt sent his quarterly update to those who financially support Sunridge, and I want to share it with everyone to celebrate what God is doing in and through Sunridge and where we are heading.
One of my goals as Lead Pastor is to keep our financial supporters (You!) informed about how your giving makes a difference at Sunridge. I send it out on a quarterly basis so you know what we’ve accomplished, where we’re headed, and just how your financial support is helping people to find and follow Jesus. Truly, “We couldn’t do it without you.”
On the topic of generosity, business owner and author Brad Formsma says the following in his book I Like Giving:
“There is something incredible about giving when it’s our idea. Opening our eyes and ears to the people around us and asking, “How can we give?” is a profoundly life-giving and satisfying way to live. One of Jesus’s ideas was that it is more blessed to give than to receive. I have found that to be true. The generous life is the only life worth living.” —Brad Formsma. I Like Giving. The Crown Publishing Group.
That’s a keeper! (Great book too!)
October is the start of our fiscal year at Sunridge, and as I’ve noted previously, COVID has really affected the bottom line of churches in the US, in particular those like Sunridge who took a more cautious approach to the pandemic. The good news is, Sunridge is rebounding well. Remarkably faithful people at Sunridge have sacrificially given and served to make up some of the gaps. We’re meeting lots of new people every weekend, and Bob is sending out “first-time-giver’s letters” regularly again. However, since we take a conservative approach in our financial planning by basing the new annual budget on the previous year’s giving (plus a “faith factor”), you will notice that our budget is reduced by 8% this year. We accomplished this through strategic reductions in operational costs, allowing some vacancies to remain vacant, cutting hours, and even reclassifying some staff from salary to hourly. You should know that your staff rallied to this challenge! They pulled together to make this budget happen and have leaned into our mission, even those impacted negatively. We’re so fortunate to have this team. I am grateful.
Even though we’ve reduced spending this year, we are still leaning forward, focused on our mission and the future:
- Just this week, we started planning the next phases of Children’s Ministry. More on this to come as we design how to phase in more grade-appropriate classes. As we look to the future, we are taking this opportunity to research how Sunridge Kids could be even better than pre-COVID. Our goal is to re-open the upstairs classrooms beginning in December this year. Look for plenty of upcoming opportunities to join others who are making a difference in these kids’ lives. They ARE the future! For more on what is forming up and how you can help, see our Children’s Pastor, Haley Falcioni. firstname.lastname@example.org.
- Last Sunday we introduced the elder board for this year. I hope you got an opportunity to meet some of them at the mixer that followed church. This is the first year in several that we’ve had a “full” board (6 volunteer elders plus the lead pastor). I’m super grateful for this amazing group of church leaders.
- Just last month, Mothers of Preschoolers (MOPS) started meeting in person again. They actually had to turn some moms away this semester as childcare volunteers are in such demand (You can make a real gospel impact just by helping here!). MOPS is such an encouraging place for young moms, and year after year remains one of the most influential outreach ministries of Sunridge. About half of our moms are not “church-goers.” Over the years, I’ve baptized so many families whose first touch by the gospel was through MOPS. The women who lead this ministry are such amazing people!
- In addition, we launched something new this fall, “Mom’s Next.” “Next” is something our MOPS team created as they saw how disappointed moms were when they “graduated out” from MOPS (You have to have a preschooler to be a part). It follows a similar model to MOPS but is designed for moms of kids that are beyond preschool. Again, I’m constantly amazed by the vision and commitment of our women’s ministry!
- Life Groups doubled this fall! During the worst of the pandemic, getting people to gather in small groups wasn’t wise or popular. With the worst behind, us we’re once again building momentum in this vital spiritual formation discipline. Following Jesus is something we do as a community or spiritual family. Gathering regularly in small groups to talk about the message and its practical implications is a key part of our spiritual formation model. If you haven’t checked out a group, you should do it. Just so you know, “Life Group” does not mean a “life sentence!” You can always “try on” another.
- I’m really looking forward to the teaching series we have planned to follow “Countercultural.” For November, we have 4-part series about the Bible. Then, beginning in December, we begin a study through Luke’s Gospel from the birth of Christ through His resurrection. The messages begin with the Christmas season and conclude at Easter.
Our very own Ken Munsey officially “retired” from his part-time role overseeing first impressions and men’s ministry this month. Ken was one of our part-time staffers for eight years. He and Debbie have been at Sunridge almost as long as Cindy and me. We’ll miss him so much in the office, but you’ll still see them in the hallways on Sundays. As part of our cost-saving measures, we will not replace Ken’s position.
A number of years ago, we established a Capital Improvement Fund (CIF) for campus improvements and replacement; we’ll be utilizing it this year for a number of projects:
- At least two of our air conditioner units have now seen better days. We’re researching our best options at the time of writing this letter. Costs to repair or replace could be up to $30,000.
- The final chapter of our fire alarm system improvements should come to a close soon. The short version of this saga is that two years ago, the City of Temecula determined our system was inadequate while inspecting the replacement of a main office air conditioner (The city had previously approved the system when we purchased the building). The total cost for the revisions is $120,000. COVID caused multiple delays in responses and inspections. Once the work is complete, we expect our final installment to be around $60,000.
- We’ll be laying down asphalt slurry in strategic areas of our parking lot this year. This is part of the regular maintenance of the campus. Normally we redo the entire lot, but we’re working with our contractor to determine the most critical spots for now. The total cost for the slurry project will be $10,000.
These are all costs our budget is ready to absorb but will obviously draw down the CIF, making future “unexpected” expenses more of a challenge as we build it back up. You can designate giving beyond your regular offering to projects like these at any time by using the category CIF on Pushpay or by putting a note on your check to CIF.
These are just a few of the ways God is using your financial support for Sunridge. We could not do it without you! Thank you for your generosity and faithful support of our mission to help people find and follow Jesus.
Grateful & Hope-filled,
If you would like to join us in accomplishing our mission to help people find and follow Jesus, click on the link below. Remember the words of the Apostle Paul, “Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver” (2 Corinthians 9:6-7).