37, ,570.00

Transcription

1 Account Trinity Evangelical Lutheran Church - Wexford PA Donations Account Balances (12/1/217-12/31/217) Saturday, January 6, 218 Period Activity Page 1 of 2 Giving Accounts 11 - Regular Envelopes 21, , Special Envelopes 4,32. 11, Sunday School Offering 32. 1, Loose Offering - Checks 17. 1, Loose Offering - Cash , Loose Offering - Visitor Env 11,43. 12, Stock Donations - General Fund 9, , Simply Giving 5,26.5 6, Stock change in value - loss Qualified Charitable Donations. 3, Flowers Thrivent Choice Program Grants Property Rental - Parish Hall , Property Rental - Friendship H Property Rental - Church Other Receipts - Other , Vacation Bible School Youth Local Mission Trips Prepaid 218 Regular Envelopes 9,57. 9, Cemetery Cemetery Plot Purchases Strategic Planning. 2, Property Property - FH Garage Rental 55. 1, Property - Simply Giving Bldg National Youth Gathering. 1, Youth Missions Memorial - Undesignated Endowment - Perpetual 1,. 1, Compassion International TELC History Book Community Ministry Florist - Sunday Services , ELCA Disaster Response Security Deposit- Facility Use. 1, Biosand Water Filtration Project. 1, Butler Flood. 17.

2 Trinity Evangelical Lutheran Church - Wexford PA Donations Account Balances (12/1/217-12/31/217) Saturday, January 6, 218 Account Period Activity Page 2 of Benevolence Lutheran Lay Renewal Men's Shelter Northside Common Ministries Souper Bowl of Caring Community Food Trucks Event. 1, North Hills Community Outreach. 1, Prayer Shawl Ministry Prayer Shawl Ministry- Qualified CharitableDonation Taste of Trinity - Gerri Olivieri. 2, Women's Event. 5, World Hunger Camperships 5. 1, Youth Discretionary Youth Discretionary-Thrivent Choice Grant Total Giving Accounts Count: 52 Period: 12/1/217-12/31/217 Year: $67, $387,849.85

3 Sunday, January 7, 218 Account # Account Name Trinity Evangelical Lutheran Church - Wexford PA Treasurer's Report as of December 217 for Current Fund Page 1 of 4 Remaining Income Current Fund - Weekly Offering Current Fund - Simply Giving Current Fund - Loose Offering Current Fund - Stock Donations Current Fund - Stock Gain Current Fund - Stock Loss Current Fund - Facility Fees Current Fund - Thrivent Current Fund - Other Receipts Current Fund - Church Programs Current Fund - Expense Reimbursements Current Fund - Interest Income Current Fund - Change in Investment Value Current Fund - Interest Income AmazonSmile Program Total Income Expenses 5.1. Payroll Pastor - Compensation Pastor - Medical, Disability & Other Insurance Pastor - Pension Pastor - Continuing Education Pastor - Professional Expenses Pastor - Publications Pastor - Other Pastor - Supply Pastor Assistance Pastor - Auto Expense Reimbursement Communication Administrator - Compensation Director of Discipleship - Compensation Organist - Compensation Organist - Substitute Organist Staff Development Payroll Taxes Workers' Compensation Insurance Total Payroll Mission Support Mission Support - ELCA Mission Support - Synod Mission Support - Other Total Mission Support 5.2. Community Ministry Community Ministry - Men's Shelter Community Ministry - Special Events Community Ministry - Donations Other Organizations 26,75 226,281 33,793 6,864 6, ,544 19,193* (6,649) 27,927 37,941* (1,14) 272 (272) 2,867 3,684* (817) 1, * (237) 971 1,563* (592) * (117) 58 (58) 2 $366,88 $351,274 $15,533 7,35 7,35 13,193 13,193* () 7,4 7,3 1,65 1, * (55) 2 2 3,93 3, , 2, ,25 2,781 5,468 33,333 33,333* () 21,372 21, ,476 5, ,76 1, ,16 $18,854 8,161 23, 23,* () 23, $23,* () 438 (438) 28 (28) 3,14 (3,14)

4 Sunday, January 7, 218 Account # Account Name Trinity Evangelical Lutheran Church - Wexford PA Treasurer's Report as of December 217 for Current Fund Organizations Community Ministry - Emergency Assistance Community Ministry - College Connection Community Ministry - Evangelism Community Ministry - Stephen Ministry Community Ministry - Other Total Community Ministry Christian Education CE - Bibles 2nd & 3rd grade CE - Bibles 6th grade CE - Confirmation CE - Curriculum - Little Church to 5th Grade CE - Curriculum - Adults CE - Educational Materials CE - Curriculum 6th to 12th grade CE - Educational Materials 6th to 12th grade CE - First Communion CE - Special Events CE - VBS CE - Other CE - Camperships Total Christian Education Worship & Music W&M - Licenses W&M - Music W&M - Piano & Organ Tuning W&M - Revelation W&M - Special Musicians W&M - Altar Guild W&M - Baptism Supplies W&M - Devotional Literature W&M - Flowers W&M - Miscellaneous W&M - Minister of Music Miscellaneous W&M - Wedding Coordinator Total Worship & Music 5.4. Youth Youth - Bible Bowl Youth - Local Mission Trips Youth - National Youth Events Youth - Regional Youth Events Youth - Youth Group Activities Youth - Bibles Youth - Curriculum - 6th to 12th Grades Youth - Other Educatoinal Materials Youth - Other Page 2 of 4 Remaining 2 (2) 1, , 37 7,629 9,1 $5,52 4, , ,8 1, * (488) , ,5 1, * (39) 9,2 $6,441 2, ,192* (592) * (477) ,1 $5,32 1,67 8 1, 1,74* 2, (74) 2,2 12

5 Sunday, January 7, 218 Account # Account Name Trinity Evangelical Lutheran Church - Wexford PA Treasurer's Report as of December 217 for Current Fund Page 3 of 4 Remaining Total Youth Transfer to Youth Group National Events Fund Youth - Transfer to Youth Gp National Events Fund Total Transfer to Youth Group National Events Fund Administration Admin - Advertising Admin - Bulletins Admin - Copier Usage Expense Admin - Copier Lease Admin - Copier R&M Admin - Office Supplies Admin - Other Expenses Admin - Postage Admin - Supplies Admin - Inactive Admin - Temp Employee Services Admin - Church Council Admin - Stewardship Offering Envelopes Admin - Stewardship Committee Other Expenses Admin - Hospitality Committee Admin - Other Committee Expenses Admin - Fin Sec - Online Giving Fees Admin - Financial Secretary Other Expenses Admin - Treasurer - Bank Fees Admin - Treasurer - Check Stock Admin - Treasurer - Office Supplies Admin - Treasurer - Other Expenses Admin - Treasurer - Payroll Processing Fees Admin - Synod Convention Admin - Synod Other Events Admin - Strategic Planning Admin - Investment Expenses Admin - Loss on Stock Sales Admin - Management Fees Admin - Membership Fees Total Administration Technology Technology Committee Expenses Software Licenses Website Improvement Total Technology 5.5. Facilities Property - Insurance Property - Lawn Care - Church 4,8 $1,951 2,848 1, 1, 1, $1, ,98* (298) 4, 2,24 1,795 1,9 2,342* (442) 3, ,335 1, (43) 2,92 (2,92) 1, ,4 1, (539) 1,33 (1,33) 2 239* (39) 7 (7) 1,1 1,282* (182) ,141 (2,141) 272 (272) 15 (15) 17,15 $18,13* (98) 1, 1,1* (1) 2, 1, ,5 24 2,26 5,5 $2,69 2,89 8,5 7, ,8 3,275* (475)

6 Sunday, January 7, 218 Account # Account Name Trinity Evangelical Lutheran Church - Wexford PA Treasurer's Report as of December 217 for Current Fund Page 4 of 4 Remaining Property - Lawn Care - FH Property - Snowplow and Salt - Church Property - Snowplow and Salt - FH Property - Trash - Church Property - Contracted Janitorial Services Property - Contracted Facilities Maintenance Property - Supplies - Church Property - Supplies - PH Property - Supplies - FH Property - Utilities - Electric - Church Property - Utilities - Electric - PH Property - Utilities - Electric - FH Property - Utilities - Gas - Church Property - Utilities - Gas - FH Property - Utilities - Telephone & Internet - Chur Property - Utilities - Security System Fee Property - Fire & Security Alarm - Church Property - Fire & Security Alarm - PH Property - Utilities - Sewer - Church Property - Utilities - Sewer - PH Property - Utilities - Sewer - FH Property - Utilities - Water - Church Acct Property - Utilities - Water - PH Acct Property - Utilities - Water - FH Acct 1695 Total Facilities Transfer to Property Major Improvements Property - Transfer to Property Improvement Fund Total Transfer to Property Major Improvements 5.6. Debt Service Debt Service - Cemetery Loan Interest Debt Service - Cemetery Loan Principal Debt Service - FH Mortgage Interest Debt Service - FH Mortgage Principal Total Debt Service Total Expenses Difference 1,4 1,71* (31) 8,6 4,161 4,439 1,3 1, , 14,154* (154) ,9 2,455 1,444 2,6 1, ,8 4,495 1,34 1, ,5 5, , 1, , 3,12* (12) (141) 141 (141) * (5) ,725 $54,78 1,16 14,4 4,8 9,6 14,4 $4,8 9,6 1,574 1,574* () 2,2 2,199 3,77 1,698 1,378 25,32 21,726 3,35 31,883 $27,198 4,684 $375,874 $33,86 $45,13 ($9,66) $2,413 * = Income/Expense exceeds amount budgeted to date

7 Trinity Evangelical Lutheran Church - Wexford PA Balance Sheet as of December 31, 217 Sunday, January 7, 218 Account # Account Name Beginning Balance Period Activity Page 1 of 1 Assets Checking - First National Bank Premier Savings - First National Bank CD - First National Bank Mid Atlantic Capital Youth Account - Mission Investment Fund Demand Investment w/checking - Mission Invest Fund Endowment - Ameriprise Financial Church Insured Value Parish Hall Insured Value Friendship House Cost Total Assets Liabilities 2.. Accounts Payable/Vendors Mortgage Payable - Friendship House Loan Payable - Cemetery Credit Card - Lowes Security Deposit - Facility Use Total Liabilities Fund Balances Current Fund Balance Prepaid 218 Offering Balance Cemetery Balance Designated Giving Balance Elevator Balance Memorial - Undesignated Balance Memorial - Handicapped Access Balance Memorial - Don Kaelin Balance Memorial - Scholarships Balance Organ Improvement Balance Technology - Sound System Balance Church Sanctuary Renovation Balance Property - Major Improvements Balance Property - Friendship House Balance Youth - Missions Balance Youth Group - National Events Balance Endowment Balance Facilities Net of Debt Balance Total Fund Balances Total Liabilities and Fund Balances 12,219 28,299 13,518 5,566 (5,566) 25,18 25, ,689 25, ,345 15,126 27,472 1,272, 5, 1,322, 1,731, 68, 1,799, 221, ,385 $3,569,713 $161,657 $3,731,37 5,537 1,331 6,868 62,296 (26,7) 36,226 4,44 (2,199) 38,24 66 (66) $18,565 ($26,83) $81,735 51,161 2,413 71,575 9,57 9,57 27,722 1,549 29,271 1,193 2,318 3,511 7,548 (5,222) 2,325 8, ,163 2,659 2, (31) 1,18 1,18 2,2 (3) 1,9 85 (78) 772 3,985 3,985 34,726 (3,21) 31,515 3,533 (3,533) 3, ,211 2, ,6 192,345 15,126 27,472 3,121, ,27 3,267,919 $3,461,147 $188,487 $3,649,635 $3,569,713 $161,657 $3,731,37

8 218 Budget Overview The Finance Committee and Council understand that members expect their monetary gifts to be used wisely. We hope the stewardship of your gifts in 217 and the proposed budget for 218 meet those expectations. Attendance Average weekend attendance was 136 in 217, down 13% from 155 in 216. Most of the decline happened in the first quarter. Attendance was also sparse over the summer, but showed indications of stabilizing in the fourth quarter (down 8% compared to 216), which is a hopeful sign heading into Budget vs. Actual Results By the end of April, it was apparent that receipts were running far below budget. Analysis revealed that former members who had moved, died or transferred had donated more than $4, in 216, but were no longer at Trinity. Council addressed this in a letter to the Congregation and took action to reduce expenses. In the end, increased giving from current members, an unexpected special $1, donation at Christmas and very tight expense controls turned what could have been a steep deficit into a $2,4 surplus for the year. As a result, the Current Fund grew to $71,6 as of 12/31/17, the highest level since 21. This is enough to cover 1 weeks of budgeted expenses for 218 (vs. less than 3 weeks coverage at the end of 212). A reasonable target is to have 6-12 weeks (1.5 to 3 months) expenses in the bank. We are now in that range. This provides flexibility for reacting to new opportunities and a cushion for contingencies. Having more than 12 weeks expenses in the bank would rightfully raise questions about whether we are withholding money from needed missions. We don t expect to be in that position during Budget vs. 217 Actual Results It s always harder to forecast receipts than expenses. For 218, we assumed that 52% of offerings would come from the fulfillment of pledges and the remaining 48% from unpledged amounts. This is a slightly more conservative assumption than the 5/5 splits actually realized in recent years (except for 217, for which there was no pledge drive). The proposed expense budget for 218 uses up some, but not all, of the surplus generated in 217. Council chose to be conservative with spending until there is additional evidence of increased giving. This created some tough budgetary choices. The biggest increase in spending will be payroll, mostly because the Director of Discipleship is budgeted for a full year in 218 vs. a part year in 217 and the Office Administrator position has been upgraded. The biggest decrease in spending will be $5,6 less for Synod Benevolence. We ll still be contributing an average percentage of our budget to the Synod, and hopefully can do more in the future. If you wish to provide additional support beyond the budget, mark Mission Support or Synod on your envelope; we ll be sure to forward that to the Synod. While it s tough to have 2 consecutive years of tight expense budgets, we can look forward to the Friendship House mortgage being retired in April 219. That will reduce 219 debt service costs by nearly $2,, freeing money for more mission-oriented activities. The constitution also grants Council discretionary authority to spend up to 5% (about $18,) more than the total budget, which could be used to boost some line items, particularly if receipts exceed budget. Thank you for your continued support. Respectfully submitted by Ray Ojerholm - Finance Committee Chair

9 TELC Proposed 218 Budget Proposed Budget Actual Budget Actual 218 Notes Receipts Pledged 184, , ,84 No pledge drive in % of total offerings in 216; 48% of 218 Offerings in excess of pledges 198,1 179, ,41 344,189 16,468 budgeted offerings (no pledge drive in 217) Subtotal - offerings 382, ,41 361,41 344, ,38 Facility fees 4,1 2,867 2,867 3,685 3, assumed to be same as 217 actual Utility easement?? Possible, but not assured Other receipts 2,2 6,978 2,531 3,41 3, assumed to be same as 217 actual Offerings, facility fees & other 388, , ,88 351, ,393 Perpetual Endowment Distributions 9,686 9,686 8,661 8,661 7,478 All are per Endowment formula Property Endowment Distributions 11,25 11,25 Final distribution made in 216 Total receipts 49, , , , ,871 Expenses Payroll 193, , ,16 182,947 21,348 Mission Support (Synod Benevolence) 23, 23, 23, 23, 17,4 Outreach 15,558 15,558 14,296 1,249 9,58 Christian Ed. 9,15 7,413 9,2 6,441 7,15 W & M 7,5 6,246 6,1 5,32 5,56 Youth 5,85 3,836 5,8 2,952 3,18 Admin. and Call Committee 23,67 26,225 22,65 18,728 18,46 Facilities Costs 7,15 62,64 64,725 54,79 56,9 Property Fund 28,879 28,879 17,864 8,264 1,198 Debt Service 31,961 32,19 31,883 27,199 31,876 Total expenses 49, , , , ,598 Surplus (deficit) 7,239-9,66 2,414-12,727 Expenses as a % of receipts Payroll 47% 46% 5% 51% 58% Mission Support (Synod Benevolence) 6% 6% 6% 6% 5% Outreach 4% 4% 4% 3% 3% Christian Ed., W & M and Youth 5% 4% 6% 4% 5% Admin. and Call Committee 6% 7% 6% 5% 5% Facilities Costs 17% 16% 17% 15% 16% Property Fund 7% 7% 5% 2% 3% Property Endow. final distribution in 216 Debt Service 8% 8% 8% 8% 9% Total 1% 98% 12% 94% 14% Budget 1

10 TELC Proposed 218 Budget Proposed Budget Actual Budget Actual 218 Notes Payroll Pastor sal. (incl. SS & housing) 58,113 58,113 7,35 7,35 7,883 1% COLA to base effective 1/1 + $4 experience adj, as per Synod reco (216 was partial year) Payroll Pastor medical & disability ins. 1,685 1,599 13,193 13,193 13,971 Portico 218 rates Payroll Pastor pension 5,811 5,811 7,4 7,4 7,88 1% of salary, same as call Payroll Pastor auto allowance 2,5 1,944 3, 2,714 3, Per call Payroll Pastor continuing education 1,375 1,77 1,65 1,71 1,65 Per call Payroll Pastor professional. & admin Synod Guideline for 218 Payroll Pastor publications Synod Guideline for 218 Payroll Pastor other 2,578 2,578 3,93 3,93 3,93 Per call (cell phone/internet & seminary loan) Payroll Interim pastor 4,856 4,814 N/A for 218 Senior pastor subtotal 86,418 85, 98,575 97,566 1,286 Payroll Supply pastor assistance Same as 217 budget Payroll AIM salary & benefits 28,767 17,625 N/A for 218 Payroll CLC & CLC Intern salaries 21,77 21,6 N/A for 218 Payroll Director of Discipleship 33,333 33,333 4,2 1% COLA eff. 7/1 per Personnel ('17 part yr) Payroll Admin. Assistant salary 25,862 25,862 26,25 22,874 27,135 1% COLA eff. 7/1 per Personnel ('17 part yr) Payroll Minister of Music salary 21,56 21,56 21,372 21,372 21,98 2% merit eff. 1/1 + 1% COLA eff. 7/1 per Personnel Payroll Child care coordinator 2,25 New; 6% of $3,75 requested by Personnel Payroll Substitute organist Same as 217 actual Payroll Staff development Same as 217 budget Payroll Payroll taxes 7,248 6,562 6,476 5,775 7,319 8% of salaries (excluding Pastor) Payroll Workers' compensation ins. 2,155 1,335 1,76 1,143 1,2 Est. 218 premiums based on recent bills Mission Support Synod benevolence 23, 23, 23, 23, 17,4 Approx. 5% of budgeted 218 receipts Outreach Community Outreach 8, 8, 8, 4,431 5,44 8% of '17 budget less alloc for Pastor's discr Outreach Pastor's discretionary 96 8% of $1,2 requested by Pastor Outreach Endowment dist. - outreach 6,458 6,458 5,196 5,196 2,4 32% of '18 dist (const. requires at least 3%) Outreach Evangelism - general 1, 883 1, Approx. 217 actual Outreach Stephen Ministry % of 217 budget Christian Ed. Bibles - 2nd & 3rd grade Approx. 217 actual Christian Ed. Bibles - 6th grade DoD request; new format Christian Ed. Confirmation expenses 1, 1,17 1, , Approx. 217 actual Christian Ed. Curriculum - to 5th gr. 1,8 1,688 1,8 1,557 1,6 Approx. 217 actual Christian Ed. Curriculum - 6th to12th grades Approx. 217 actual Christian Ed. Curriculum - adult classes Approx. 217 actual Christian Ed. Ed. materials - LC to 5th grade Approx. 2x 217 actual Christian Ed. Ed. materials - 6th to12th gr % of 217 budget Christian Ed. First Communion % of DoD request; new format for 218 Christian Ed. Christian Ed. special events 1, 399 1, % of 217 budget Christian Ed. Vacation Bible School 2, 2,23 2,5 1,526 1,6 Approx. 217 actual Christian Ed. Christian education other exp Compassion International sponsorship; covered by special donation for 218 W & M W&M licenses Approx. 217 actual W & M Sheet music 1, ,193 1,4 8% of W&M request W & M Organ/piano tuning 3 3 Paid by Organ Improvement Fund W & M Sound system maintenance 1 Same as actual W & M Special musicians W&M request W & M Altar Guild W&M request (supplies low at end of 217) W & M Baptism supplies % of 217 budget W & M Devotional literature Approx. 217 actual W & M Flowers 5 1, % incr to 217 budget; still working on better control W & M Minister of Music - other exp Approx. 6% of 217 budget W & M W&M Committee - other exp , Approx. 6% of 217 budget W & M Wedding coordinator Same as 217 actual Budget 2

11 TELC Proposed 218 Budget Proposed Budget Actual Budget Actual 218 Notes Youth Bible Bowl Same as 217 actual Youth Local mission trips 5 5 1, 1,74 88 Approx. 8% of 217 actual Youth National youth events , 1, 8 8% of 217 budget Youth Youth group activities 3,7 1,89 2,5 48 1, Approx. 2x 217 actual Youth Youth - other expenses Same as 217 budget Admin. Advertising Approx. 217 actual Admin. Bulletins 1, ,99 1,1 Approx. 217 actual Admin. Copier usage expenses 4, 3,871 4, 2,24 1,2 New copier includes more pages in allowance Admin. Copier lease 2, 1,99 1,9 2,343 2,916 New lease; but dramatically lower usage fees Admin. Copier R & M 26 Same as actual Admin. Paper, ink & supplies 3,1 2,616 3,3 1,9 1, Approx. 217 actual Admin. Other admin. expenses 1,5 2,498 1,5 1,229 8 Approx. 8% of 217 budget Admin. Postage 1, 1, Approx. 217 actual Admin. Council expenses 1,3 1,713 1, % of 217 budget Admin. Offering envelopes 1,5 1,415 1,4 1,352 1,4 Approx. 217 actual Admin. Stewardship expenses Approx. 217 actual Admin. Software licenses N/A 2, 1,44 1,8 $1,44 CW license plus $36 other Admin. Technology Committee 3, 3,922 1, 1,11 1, Same as 217 budget Admin. Website 2, $51 fees plus $29 other Admin. Strategic planning 2,142 1,12 Pastor request (total $2, with Endow. dist) Admin. Strategic planning Endow. Dist. 88 Pastor request Admin. Other committee expenses 1,843 5 Approx. 217 actual minus one time expenses Admin. Online giving fees New rate for 218 Admin. Treasurer's expenses 1,36 1,84 1,1 1,353 1,4 Approx. 217 actual Admin. Synod convention % of '17 budget (more attendees in '18) Admin. Synod - other events % of 217 budget Call Committee Call Committee expenses 2, 4, N/A for 218 Facilities Costs Insurance 9,7 8,34 8,5 7,699 7,8 Estimated '18 premiums based on recent bills Facilities Costs Lawn Care 3,7 3,595 4,2 4,985 4,5 Some extra cuttings in '17 due to mild weather Facilities Costs Snowplow & salt 8,6 3,965 8,6 4,161 6, $7,3 for last "normal" winter in 214; working with contractor to control mid-week plowing costs Facilities Costs Trash 1,3 1,236 1,3 1,281 1,3 Approx. 217 actual Facilities Costs Minor repairs & maint. 3,7 4,821 Now paid out of Property Fund Facilities Costs Contracted facilities maint. 16,8 15,138 14, 14,154 14,2 $14, per yr plus 4 $5 each Facilities Costs Operating supplies 3,1 4,469 4,425 2,69 2,1 $175 per mo recent experience Facilities Costs Electric 8,7 9,498 9,8 7,247 7,3 Approx. 217 actual Facilities Costs Natural gas 9,3 6,63 8,5 7,7 8,5 Same as 217 budget; can't count on another warm winter Facilities Costs Telephone & internet 3, 3,3 3, 3,12 3, $25 per mo recent experience Facilities Costs Sewer Approx. 217 actual Facilities Costs Security system fee $1 per qtr + $3 annual inspections Facilities Costs Water Approx. 217 actual Property Fund Transfer to Property Fund 14,4 14,4 14,4 4,8 6, $5 per month to restart these transfers Property Fund Perpetual Endowment dist. 3,229 3,229 3,464 3,464 4,198 Balance of '18 Endowment dist. Property Fund Property Endowment dist. 11,25 11,25 Final distribution made in 216 Debt Service Cemetery loan interest 1,652 1,71 1,574 1,574 1,567 4% interest rate, same as mortgage Debt Service Cemetery loan principal 2,2 2,2 2,2 2,2 2,2 Same as 217 budget Debt Service Mortgage payments 28,19 28,19 28,19 23,425 28,19 Per loan terms; should be repaid in April 219 Total expenses 49, , , , ,598 Status of Property Fund Balance at 12/31/17 plus budgeted transfers from Current Fund and '18 Endowment 41,714 Minus: Reserve for contingencies -15, Minus: Needed for routine items based on recent experience -5, Equals: Available for major projects 21,714 Projects beyond this would have to be funded by specific gifts or a capital campaign Budget 3