Spring Glen Church Financial Update – Fall 2026

Dear Congregants,

As we kick off the new church year it is a good time to provide you with an update on our finances.

Summary

We are blessed to have a congregation that supports our efforts financially and respects the balance of financial stewardship and the need to put our money to work.

Financial Health

We continue to be a strong, financially stable church, which is in part why we could accomplish all the wonderful things highlighted in the May Meeting Booklet reports from the Council of Deacons. More details are below.

Use of Building Reserve for Capital Projects

We had an unplanned need to replace the roof over the Great Hall that required us to use most of the funds set aside in the Building Reserve for Capital Projects. More details are below.

Financial Health Details

Our income and expenses do not flow evenly throughout the year. As of August 31^st, which is 67% of the way through the calendar year, our income receipts are $376,783 which is 73% of the budget of $518,576 due in part to the receipts of pledges early in the year and the receipt of the full endowment distribution that supports the operating budget in February. Our expenses paid out are $360,042 which is 69% of the budget of $522,919. Some of our expenses are seasonal and some bills may be outstanding. Overall looking at trends from prior years we are well placed to finish the year close to budget.

Our investments continue to hold their value; we have not spent any of the Redeemer Legacy Fund which are unrestricted funds intended for an important initiative without a funding source or for hardship occurrences in the life of the church. These assets are invested and provide annual support to initiatives and the operating budget through the annual distribution calculation. Maintaining these funds is an important aspect of the church’s overall financial health.

Use of Building Reserve for Capital Projects Details

There has been an issue with water leaking into the ceiling in the Great Hall. The first investigation identified that the incorrect installment of the solar panels was causing the leaking. The panels were removed and reinstalled using insurance proceeds from the vendor. Although there was significant improvement, this repair did not solve the full problem, and it was determined that the roof needed to be replaced. Multiple bids were sought. The total cost to remove the solar panels, replace the roof and reinstall the solar panels is $55,500. There is $10,000 for Great Hall repairs/upgrades in the annual allocation of the Building Endowment Fund which will be used. The remaining $45,500 will come from the Building Reserve for Capital Projects and will leave a balance in that fund of less than $2,000. It is a tribute to our solid financial stewardship that the church had this fund available to draw on for this unexpected cost. At the January meeting when we vote on the 2027 budget for the Building Endowment use of the annual allocation and any remaining balance from the 2026 budget we will discuss how to build the reserve up again.

The Facilities & Sustainability Deacons have done an amazing job of managing this difficult, time-consuming and often frustrating situation and we are very grateful for their efforts.

It is my pleasure to serve the church in the role of Senior Trustee, and I am happy to answer any questions you may have. You may see me in church or email trustees

Lucy Lucker