Initial returns for pledges for the coming fiscal year are inspiring. As of March 16, 74 of 89 pledges so far have increased 20% or more, qualifying for the challenge pool that has grown to just over $27,000. We are truly in this together.

Our requests for expense increases for the coming year have grown as well – the “everything in that everyone asked for” results in an expense increase over this fiscal year of $110,000, and a deficit of nearly $140,000. Though it is not unusual to have a large deficit on the first cut, this one is unusually high and we may not want to pull all the same levers (such as eliminating all salary increases), so there is clearly work to be done by the Coordinating Team – and the Board – before the budget is presented to you at the Congregational Meeting on May 17.

Though I am still projecting a deficit for this year, the gap is closing as more of us are paying our pledges, and savings like the new health plan are kicking in. The current projected deficit of just under $14,000 could be made up by “CT designated”, an account that was established several years ago by a generous donor. Whatever we don’t spend in this fund for this year will be available for next.