Leadership has approved this budget to bring to the church. On Sunday, December 13, approximately five minutes after the closing peace, we will regather on our zoom meeting for discussion and affirmation of the proposal. In the meantime, if you have any questions or needed clarifications, please send an email to gracefellowshipnorman@gmail.com, or a text to 405.329.4773. Leadership will response a.s.a.p.

In the proposal below you will find:

1. Basic financial details primarily about 2020.
2. The proposed budget which includes comparison budget amounts from 2018, 2019, & 2020.

Also, leadership would like to thank all of you for your faithfulness in giving during this strange year. We have, not only ‘kept the proverbial lights on’ but have been able to add to our savings.

Also, I want to shout out a thanks to our leadership who have gone above and beyond in striving to lead, example, and set the tone for a healthy Church!

We Love Grace Fellowship!

Rick

Budget Basics:

Contributions to Date
January – November 2020 $129,247.14
Monthly Average Contributions to date $11,749.74
2020 Total Expected Contributions $140,996.88

Expenses to Date $112,372.92
Monthly Average Expenses $10,215.72

2021 Proposed Budget
Conservative Contributions Estimated $126,996.88
Budget Proposal $125,640.54
Weekly Requirements $10,470.05

Additional Budget Notes:

• Cross Church has extended their lease of the 60th Avenue building for another year ($3,000 monthly payment included in contribution totals).
• Emergency Fund, set up last year to be ready for unexpected but essential spending items such as building repairs on 60th Avenue property, currently has a balance of $5,344.50.
• Future Fund has a current balance of $39,268.95.
• At the close of November we had a surplus of $20,443.74 in our account (this is non-designated general fund money that has not been spent).
• Sparrow House, a GF organic ministry, ‘closed its doors’ this year (thanks to Ruby and Larry Leighton and Paul and Martha Lewis, plus so many of you who have volunteered over the years!). With permission of the most recent donors who had contributed to Sparrow House (donors of funds that had not yet been spent), the remaining designated Sparrow House balance was switched to a newly established designated fund to provide Bibles and other needs to Oklahoma Prison Ministry.

Line Item	2018  Approved Budget	2019 Approved Budget	2020 Approved Budget	2020 Projected Actual	2021 Proposed Budget
Projected Income	140,745.30	144,972.26	120,805.43	140,996.88	125,640.54
Expense
Impact	(7.5 %)     10,480.00	(7.75%)   11,235.35	(8%) 10,000.00	(7.2 %) 10,000	(8.94%) 11,236.59
Students	300.00	500.00	150.00	150.00	150.00
Children	500.00	300.00	150.00		150.00
Pastoral Salary	20,000.15	20,000.15	20,000.15	20,000.15	20,000.15
Pastoral Housing	30,800.00	30,800.00	30,800.00	30,800.00	30,800.00
Pastoral SEA	4,690.00	4,690.00	4,690.00	4,690.00	4,690.00
Part Time and Contract Workers	3,000.00	6,180.30	2,050.00	2,050.00	2,000.00
Health Insurance	20,100.17	20,100.17	18,443.28	18,443.28	19,891.80
Rent (Aug-Dec)	17,886.30	19,295.24	12,000.00	12,400.00	13,200.00
Property Expense	4,226.68	4,226.68
Office Expense	6,000.00	5,712.37
Office/Property			7,190.00	7,190.00	7,190.00
Church Insurance	8,262.00	7,432.00	6,432.00	6432.00	6432.00
Celebrate Norman	1,000.00	1,000.00	500.00	347.39	500.00
Future Funds Transfer	12,000.00	12,000.00	3,450.00	3,450.00	3,450.00
Emergency Funds Transfer			3,450.00	3,450.00	3,450.00
Publicity and Marketing	1,500.00	1,500.00	1,500.00	878.25	1,500.00
Total Expenses	140,745.30	144,972.26	120,805.43	120,280.68	125,640.54