Tuesday, May 20, 2008

Calvary Baptist Vision Path (Part 5) - Build a Strong Financial Base

Vision Path Strategic Priority #4 -Build a Strong Financial Base

Another term for this priority is "Financial Freedom in Christ." The Calvary family both wants to be faithful stewards of the financial resources that God has entrusted to us in order to further His Kingdom, and to be a model encouraging the development of financial freedom in Christ to its members. Establishing a strong financial base will allow us to respond effectively when the Lord leads, will allow us to staff and expand strategically as opportunities arise, and will allow us to be more faithful in stewardship of His resources.

Key Convictions & Principles:
  • God is the primary owner of all wealth
  • God entrusts resources to His Body for faithful stewardship
  • Calvary will model financial health to its members
  • Tithing is a spiritual discipline emphasizing our dependence on God’s provision
Specific Goals:
  • Maintain three months’ operating expenses in reserve
  • Budget 1.5% of structural value per year for maintenance and repairs
  • Encourage financial freedom in Christ for church members
  • Prepare for next staff strategic hire by saving up six months' salary
  • Aim for income to exceed operating expenses by 10% before any new building
Resources, Responsibilities: The Treasurer and the Finance Team are the key people involved in overseeing this priority, though it has implications throughout the church. We have recently started a series of small group bible studies based on the Crown Financial Ministries and will continue to expand the impact of this excellent study.

Key Outcomes: Build up emergency reserve by one month of expenses per year for the next three years; introduce proper maintenance allocation starting in 2009 budget; by Fall 2010 we will have a half-year salary reserve in advance of a strategic staff hire; by 2010 our income should exceed operating expenses by 10% in advance of any new building; by end of 2010, 10% of church membership will have had the Crown financial Bible study.

Clarifying the "Win": This priority will be a "win" when we as a church model the wise financial stewardship practices that we teach to our members, including having in place a prudent level of emergency reserves as well as saving in advance for expanding staff or facilities, and when our creativity and volunteer spirit allows us to do this without negatively impacting ministry or missions.

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