Stewardship Update

Dave Rausch
ZPC Treasurer

As promised in our recent town hall meetings, this update is presented to communicate more fully the status of ZPC’s finances.

We have recently completed our 2007-08 year-end accounting audit. The church was blessed with overall budget contributions that met its budget goals for the past year. However, restricted and in-kind gifts represented a significant portion of revenues, resulting in operational cash flow for the year that was approximately $100,000 below the year’s need.

The budget for 2008-09 is being considered by session. It assumes operational contributions of approximately $3.3 million, equivalent to those of last year. The expense reductions discussed in our town hall meetings have been incorporated, and the details of the complete budget will be shared more fully after the session approves a final version.

It will take some time before all the expense reductions in the budget are translated into improved operational cash flow. As noted in the Weekly Currents in recent weeks, September contributions fell well short of the needs of this reduced budget, resulting in additional short-term borrowing to sustain operations. ZPC has drawn $175,000 on its credit line since May of this year. Your generosity will be crucial as we strive to stay in step with God’s plans for our congregation. We are grateful for all of his blessings, and continue to trust that God will guide our way forward financially in the days ahead.