Trinity Episcopal Church - Financial Resources

FINANCIAL RESOURCES COMMISSION

After the Spring, hope for a graduating Seminarian went by the board, interviews were conducted with two local possibilities. As these have not worked out, we will now have to go the full search route which is akin to a Rector Search.

The Vestry has charged this commission with oversight of the "raising, management, expenditure, and communication of the financial resources and needs of the parish in a fiscally responsible manner to promote the mission of Trinity Church."

After review of both our Mission and recently adopted Vision statements, earlier this year the Commission developed a 2007 work plan which includes:

Bell Restoration: Our Capital Fund Drive for this project was kicked off in June. Jim Adams and Sandy Thompson have worked hard on this and, with broad-based support of the Parish, are hopeful that our financial goal will be reached by summer's end.
Stewardship: Keith Johnson has again agreed to lead this year's program which, building on last year's successful effort, will be kicked off October 1.
Annual Operating Budget: Commission chairs and staff have been requested to provide 2008 budget requests by the September Vestry Meeting. Based on these requests, the Commission will prepare the Awish@ budget, which will be distributed to the Parish in conjunction with Keith=s stewardship program. The recommended budget, based on stewardship results, will be presented to the Vestry in November.
Financial Oversight: This is an ongoing effort. Gary Gabbard, our Financial Administrator, has the primary responsibility for the accounting , preparation of financial reports and the bulk of the communication; the Treasurer and Commission provide the oversight. In addition, an outside accounting firm conducts an extensive audit annually.
5 Year Plan Update: This Plan, adopted several years ago had the following objective: Establish and maintain an Annual Operating Budget sustained by pledges and gifts received during the year. As this goal is achieved, reallocate Book of Remembrance Trust endowment income for special projects, initially renovation debt retirement and then Preservation and Maintenance Fund funding.

While parish financial support has continued to grow, we continue to be dependent on $165,000 of Trust income for our annual Operating Budget.

Jean S. Brann.

For more information on Trinity Episcopal Church of Covington, Kentucky, contact info@trinitychurchcovky.com.

For more information about this web site, contact the webmanagers at webmaster@trinitychurchcovky.com.