Budget Progress

Figures on this page have been updated to January 31, 2017

Operating Fund

Revenue    Expenses

2017 YTD

Revenue: Year to Date

Donations & Bequests

33,939

Property Income

3,104

Fund-raising

632

Government Grants

nil

Total Revenue

37,675

 

Expenses: Year to Date

Ministry and Personnel

24,520

Worship and Music

288

Family Ministries

16

Service Programs

54

Communications

344

Property

5,707

Building Improvements

nil

Presbytery & Conference

2,449

Stewardship

nil

Administration

3,691

Total Expenses

37,069

 

Surplus (Shortfall): Year to Date

606


Our Financial Position in a Nutshell

January 2017

On February 12, 2017, the congregation of Robertson-Wesley United church approved the operating budget for 2017. The budget includes a part-time business manager position to begin in early spring. The business manager will help the church optimize its revenues and expenses as well as facilitate communications and strategic planning.

The year has started well with revenues of almost $38K, representing 7.1% of the annual budget. As with most registered charities, January typically represents a slow month for revenues.

We look forward to sharing and serving with our congregation in 2017.

The Board of Robertson-Wesley

Robertson-Wesley Reserve Fund

On May 21, 2013, the Board of Robertson-Wesley United Church ("Church Board") approved combining the Emergency, Non-Capital, Deficit Reduction, Internal Endowment, and Capital trust funds into the Roberson-Wesley Non-Designated Reserve Fund ("the Fund"). This would provide the church with flexibility to respond to emergent situations and to help the church fulfil its mission of becoming a welcoming and inclusive congregation vital to the community it serves. Sources of these funds were principally bequests and surpluses from past operations.

The Board may make spending decisions based on urgency and need where no other funding possibilities exist at that time. The short to medium term goal of the Fund is to fund emergencies, to build community support, and to fund operating deficits where actual expenditures exceed revenues. The long-term goal is to use the Fund strictly for special projects of a capital or non-capital nature and for outreach and worship. The fund has most recently been used to fund annual operating deficits, emergency roof and sewer repairs, replacement of the computer server and almost all outdated computer equipment central to the operations of the Church.

In accordance with the minutes of 2013 May 21, the Fund may only be used if its value exceeds $500,000, due either to spending or market conditions. Should the value fall below, spending may only occur through Special Resolution of the Church Board, presumably for emergencies or to fund operating deficits.

Estimated market value at January 31, 2017: $556,250

E.I. Clarke Memorial Fund

The E.I. Clarke Memorial Fund ("EIC Memorial Fund") was established on 1968 Nov 18, from a donation of $15,000 from Edwin Irwin Clarke.

The purpose of the fund is "to promote and assist directly and indirectly in the amelioration of instances of social need as brought to the attention of the Trustees and particularly as brought to their attention by the incumbent minister, within the City of Edmonton."

Terms of the fund are such that "capital of the EIC Memorial Fund shall be kept intact and administered as... provided and there shall be no encroachment thereon for any purpose whatever..." Robertson-Wesley continues its commitment to spending only the income from the Fund and for the purposes stipulated.

Originally, the EIC Memorial Fund was to be administered by a Trust Fund Committee headed by the Senior Minister, the Treasurer of the Church, and three adult persons appointed by the Official Board of the Church.

In 2015, $18,000 was disbursed from the Trust Fund to the benefit of the following charitable organizations: George Spady Centre; Bissell Centre; Alberta Committee of Citizens with Disabilities; Inner-city Pastoral Ministry; and the Boyle McCauley Health Centre.

For more details about the EIC Memorial Fund, please see the Wesley & Clarke Funds page of the Robertson-Wesley web site.

Estimated market value at January 31, 2017: $381,319

Wesley Trust Fund

The purpose of the Wesley Trust Fund is to "promote social development work consistent with the purposes of the United Church of Canada in the Oliver District and beyond."

Terms of the fund are such that "capital shall be kept intact and administered as...provided and there shall be no encroachment thereon for any purpose without the prior written approval of the Official Board of the Church." Robertson-Wesley continues its commitment to spending only the income from the Fund and for the purposes stipulated.

Originally, the Trust Fund was to be administered by a Trust Fund Committee headed by the Treasurer of the Church and four adult persons appointed by the Official Board of the Church.

In 2015, $22,000 was disbursed from the Trust Fund to the benefit of the following charitable organizations: No Room at the Inn; George Spady Centre; Candora Society; Bissell Centre; Robertson-Wesley Benevolent Fund; and the Boyle McCauley Health Centre.

For more details about the Wesley Trust Fund, please see the Wesley & Clarke Funds page of the Robertson-Wesley web site.

Estimated market value at January 31, 2017: $465,237

Mission and Service Fund

Funds donated to or raised for the Mission and Service Fund are remitted directly to Mission & Service of the United Church of Canada and are not included in the revenues or expenses of Robertson-Wesley United Church.

Year to Date

Mission & Service—Congregation

1,599

Mission & Service—UCW

nil

Total

1,599

Budget

The budget for 2017 was adopted by the Annual Congregational Meeting on February 12, 2017. It is a "balanced budget", that is, the revenue figures indicate the actual amount of revenue that is required in order to meet the budgeted expenditures.

The 2016 budget is still available for viewing here.

Pledges for 2017

We are all encouraged to make a pledge, which is simply a statement of the amount we intend to contribute. It is not a binding commitment, but an expression of intention which is nevertheless helpful in our planning and facilitates accurate budgeting.

For 2017

Pledges

Amount

Local expenses

69

$182,489

Mission and Service

40

$15,294

We are happy to receive a new pledge at any time of the year. Pledge Form

Anniversary Legacy Fund

The purpose of the fund is twofold:

  1. The first purpose is to provide the two thirds funding Robertson-Wesley United Church would need to contribute in order to secure Historical Designation funding from the City of Edmonton in 2015.
  2. Any residual funds would be used to establish an investment fund from which the income earned would be used to provide operating revenues from the church.

The Church Board has the authority to change the purpose and use of the funds at its discretion.

Estimated market value at January 31, 2017: $23,854

FAQ

Who keeps track of all our money?
The church has a network of volunteers including a Finance committee, counters, an accountant, envelope stewards, and a treasurer who track and report financial matters.
Where does the money come from for running the church?
All funds are raised locally through member and visitor tax-deductible offerings, fund-raising initiatives, and building rentals. We encourage donors to provide an address and name so that tax-deductible receipts can be provided for up to 50% in tax savings. The church receives no funding from the United Church of Canada or government, although periodically we receive generous grants through application for designated purposes, such as the Municipal Historical Resource Grant, Canada Summer Jobs Project, and the Provincial Summer Temporary Employment Program (STEP) grant.
Your Questions
Please send your questions about church financial matters to: accounting@rwuc.org.

Helen Mack Outreach Fund

The Helen Mack Outreach Fund ("HEM Outreach Fund") was established in 2007 with funds bequeathed by Helen Elizabeth Mack to Robertson-Wesley's Outreach program for its purposes including, but not limited to, monthly community dinners.

Since its inception, the HEM Outreach Fund has disbursed funds in support of Choral Morphosis, Magic Pantry, Bissell Sandwich Program, Messy Wednesdays, refugee sponsorship, seed money in support of the Spiritual Arts Collective, Habitat for Humanity, Operation Friendship, and, of course, the Community Dinner, among other programs. In 2013, $20,500 was disbursed in direct support of these programs.

The gift that Helen Mack left Robertson-Wesley has been a critical part of the Church's outreach program, which is administered by the Outreach Committee.

For more information about the HEM Outreach Fund, please see the Helen Mack Fund page of the Robertson-Wesley web site.

Estimated market value at January 31, 2017: $123,779

Carillon Fund

The Schulmerich Carillon which rings from our steeple was donated by the Wolfe family and dedicated in 1961. It is now worn out and in need of replacement. The Board has decided on a replacement which will be a digital tone generator and utilize the present speakers. We have now raised the full cost of replacing the carillon through special donations and installation is complete.

Full cost: $12,000

Amount spent: $8,387

Amount remaining in the fund: $3,359

Organ Restoration Fund

Established in 2014, this provides for the eventual restoration of the organ. Schedule for the restoration and the required amount have yet to be determined.

Amount raised to date: $1,506

Other Funds

Robertson-Wesley United Church is also the steward of a number of smaller funds ranging in value from $5,000 to $26,000 each, including the Crawford Trust, Geggie Endowment, Falkenberg, Music Endowment, and Kawalilak Funds. Each of these funds has a designated purpose as determined by the benefactor and is held in medium to long-term investments professionally managed by the Investors Group and RBC Dominion Securities. As such, values are subject to market fluctuations.