Quarter one saw $60,000 from the building fund applied directly to the principal of our building loan. As of this writing, we owe $2.136M on our building. One year ago, we owed $2.353M. I hope that we can continue to pay substantial amounts to the principal of our loan each year with your help.
I am also pleased to report that as of the end of the first quarter of the fiscal year, College Wesleyan Church is in an excellent financial position coming out of the summer season. At the recommendation of the Finance and Stewardship Committee, we are now reporting weekly giving in the bulletin based on a 10-plus year monthly average need. It is the desire of the Committee to reflect better the ebbs and flows of giving throughout the year using this method. Based on this method, we ended the quarter $4,000 ahead of where we would expect to be at the end of the quarter. Strictly and mathematically speaking, we have ended the quarter 3.11% behind budgeted giving, but this is normal with many of our congregation being away at various times throughout the summer. If you have been out this summer and have fallen behind in your regular giving, I would encourage you to prayerfully consider catching up those times that you missed.
I would also encourage you to visit MyCWC through the Collegewes.com website and set up recurring giving if you have not already done so. If you are concerned about the fees that we pay as a result of online giving, you can also set up a recurring debit from your banking institution. If you have any questions or concerns regarding giving online or via a recurring debit, please feel free to call the church office.
Director of Finance & IT