Frequently Asked Questions Budget
Budget
· What does Woods do with the money I pledge?
Once pledges are made, they are totaled and form the basis for the operating budget. This budget is made based on the total pledges and any additional income from other sources. It is important that each member unit provide a pledge. This enables Session to budget accurately for the next fiscal year. The pledge is also recorded in your individual Giving Record maintained by the church office. It will be reflected on your quarterly statement and allow you to monitor your giving throughout the year.
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· Can I see a copy of the budget?
Yes, the budget is available to any member. Just contact Anne Veach in the church office for a copy.
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· What is the budget process? Can I have an input?
Every year Woods' ten ministries are asked to review their current spending and to project next year's needs based on project requirements. The Stewardship and Finance ministry then combines these data into a proposed budget for the following year. Often the competing requests must be scaled back to keep the budget achievable. Session votes on the proposal. The "asking budget" is then presented to the congregation for approval by voice vote at a special congregational meeting. The budget is funded primarily through pledged giving of the congregation.
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· Who decides how our funds get spent?
Church projects are managed by ten ministries. Each ministry is staffed by three active Elders and several volunteer members. Ministries combine continuing projects with future projects to derive spending requirements for their ministry.
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· Do church funds get audited? Are the results public?
Independent audits are performed annually by a CPA firm. The church financial year runs from July 1 to June 30. If you would like to see the results, please contact our Financial Secretary, Anne Veach in the church office.
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· Why do we spend our money outside the church?
The spending life of the church as a whole is similar to that of any Christian family. Much of the spending goes to satisfy internal requirements, while a significant amount is given to worthy needs in the community and throughout the world.
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