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
We owe $62,500 to 3 different parishioners who gave us an interest free loan 5 years ago in order to pay off an interest-bearing loan obtained for our Building Project to expand and improve our facilities. These loan payments amount to $12,500 a year and should be paid off within the next 5 years.
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.