Budget and Finance
Budget
The Finance Committee assists the Board of Trustees by conducting ongoing oversight of the Buffalo Church's income and expenditures throughout each fiscal year. The Church uses a calendar year as its fiscal year. The Trustees' recommended budget for the next fiscal year is presented to the voting members of the congregation for their consideration and decision-making at each year's Fall Congregational Meeting. The Finance Committee's members include the Minister and the Church Administrator, ex officio, in addition to voting members of the congregation.
Preparation of the next year's budget begins in the late spring when the Church Administrator solicits budget requests from the leaders of the Church's various programs and activities. In June and July the Finance Committee considers the next fiscal year's income projections and the details of program and activity requests before proposing a budget for the trustees' consideration. The trustees must approve a recommended budget for the Church's next fiscal year in August. This timing is required in order to meet the notice requirements for distributing the recommendation to the Church's voting members before the Fall Congregational Meeting.
The Finance Committee also monitors the Church's income and expenditures on an ongoing basis. Each month the Committee submits a written line-item report to the trustees for consideration at their monthly meeting. The Treasurer (and/or the Finance Committee Chair) is available to answer the trustees' questions at those meetings.
Until the Stewardship Team implemented its professional consultant's recommendation that the congregation use the UUA's Fair Share Giving Guide in the Annual Budget Drive for 2014, the pattern of individuals' pledging to the Church had historically been very low. Early in 2013 the trustees realized that authorized expenditures for that year were going to exceed by a substantial amount the income that realistically could be anticipated from pledges and other gifts.
Working with the Investment Committee, the trustees developed a recommendation that the Church's voting members authorize a Special Draw of $275,000 from the Church's Endowment Fund to be spent through June, 2015, for congregationally-authorized operating deficits and some previously-deferred capital projects. At a Special Congregational Meeting in June, 2013, voting members overwhelmingly approved the trustees' recommendation. As of this writing [December 6, 2014], the Special Draw should cover authorized operating deficits and some deferred capital expenditures through 2015.
Stewardship
The UUCB retained the services of UUA Stewardship Consultant Barry Finklestein in September 2013 to assist in planning for a revitalized annual budget drive for the 2014 year. Following the recommendations of Dr. Wayne Clark and the UUA Congregational Stewardship Network, use of the UUA Giving Guide was adopted, a kick-off reception was held for those in the top quartile of giving, and visiting stewards were recruited and trained to conduct personal visits (focused on appreciative conversations about the value of the church) with those in the second and third quartiles. Those in the fourth quartile of giving received their pledge cards at church or through the mail, with follow up for those who had not responded by December. The results of this approach have been strong, and increased pledging is likely to cover up to one-half of the anticipated 2014 deficit. The Stewardship Team plans to expand the new approach and improve outcomes even more in the campaign for the 2015 budget to assure the ongoing financial health of the congregation.
Fundraising
In the past three years the church has held an annual "Fun and Fellowship" service auction in November, and the income from the 2013 auction was about $9,000. The choir holds an annual dinner event that is a fundraiser for the church. Other events, such as periodic celebrations held as a church benefit, sales of discount cards to local businesses, etc., bring in about $3-5,000 in a given year.
The Finance Committee assists the Board of Trustees by conducting ongoing oversight of the Buffalo Church's income and expenditures throughout each fiscal year. The Church uses a calendar year as its fiscal year. The Trustees' recommended budget for the next fiscal year is presented to the voting members of the congregation for their consideration and decision-making at each year's Fall Congregational Meeting. The Finance Committee's members include the Minister and the Church Administrator, ex officio, in addition to voting members of the congregation.
Preparation of the next year's budget begins in the late spring when the Church Administrator solicits budget requests from the leaders of the Church's various programs and activities. In June and July the Finance Committee considers the next fiscal year's income projections and the details of program and activity requests before proposing a budget for the trustees' consideration. The trustees must approve a recommended budget for the Church's next fiscal year in August. This timing is required in order to meet the notice requirements for distributing the recommendation to the Church's voting members before the Fall Congregational Meeting.
The Finance Committee also monitors the Church's income and expenditures on an ongoing basis. Each month the Committee submits a written line-item report to the trustees for consideration at their monthly meeting. The Treasurer (and/or the Finance Committee Chair) is available to answer the trustees' questions at those meetings.
Until the Stewardship Team implemented its professional consultant's recommendation that the congregation use the UUA's Fair Share Giving Guide in the Annual Budget Drive for 2014, the pattern of individuals' pledging to the Church had historically been very low. Early in 2013 the trustees realized that authorized expenditures for that year were going to exceed by a substantial amount the income that realistically could be anticipated from pledges and other gifts.
Working with the Investment Committee, the trustees developed a recommendation that the Church's voting members authorize a Special Draw of $275,000 from the Church's Endowment Fund to be spent through June, 2015, for congregationally-authorized operating deficits and some previously-deferred capital projects. At a Special Congregational Meeting in June, 2013, voting members overwhelmingly approved the trustees' recommendation. As of this writing [December 6, 2014], the Special Draw should cover authorized operating deficits and some deferred capital expenditures through 2015.
Stewardship
The UUCB retained the services of UUA Stewardship Consultant Barry Finklestein in September 2013 to assist in planning for a revitalized annual budget drive for the 2014 year. Following the recommendations of Dr. Wayne Clark and the UUA Congregational Stewardship Network, use of the UUA Giving Guide was adopted, a kick-off reception was held for those in the top quartile of giving, and visiting stewards were recruited and trained to conduct personal visits (focused on appreciative conversations about the value of the church) with those in the second and third quartiles. Those in the fourth quartile of giving received their pledge cards at church or through the mail, with follow up for those who had not responded by December. The results of this approach have been strong, and increased pledging is likely to cover up to one-half of the anticipated 2014 deficit. The Stewardship Team plans to expand the new approach and improve outcomes even more in the campaign for the 2015 budget to assure the ongoing financial health of the congregation.
Fundraising
In the past three years the church has held an annual "Fun and Fellowship" service auction in November, and the income from the 2013 auction was about $9,000. The choir holds an annual dinner event that is a fundraiser for the church. Other events, such as periodic celebrations held as a church benefit, sales of discount cards to local businesses, etc., bring in about $3-5,000 in a given year.