St David's financial picture is sound. We have an annual operating budget of $270,000, and have been able to finish each of the previous 3 years with a positive cash flow. We fulfill our annual Diocesan assessment of over $25,000 and are in good standing with the Episcopal Church in Connecticut.
St. David's annual income is solely dependent on our annual stewardship campaign, which runs from November through January each year. Other sources of income include plate and modest donations from other organizations that occasionally use our facilities
Five years ago three parishioners graciously provided Saint David’s with interest-free loans to pay off the existing new building mortgage, thus saving us considerable interest expense. We pay back on these loans in the amount of $12,500 per year, and they will be paid off in about five more years. These (anonymous) parishioners’ loans have positively supported more flexibility in
our budgeting and program funding for God’s mission.
Finally, we discovered an error in our 2018 budget. We had budgeted too much for our part time Christian formation director. At the February vestry meeting we approved the following changes: Increase the Outreach account by $4,000, bringing it to $14,000, increase the Rector Savings account by $2,558, bringing it to $43,995, and corrected a $6,525 error in the salary of the Christian formation position, bringing it to the correct figure of $9,787.