November 2023

Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver – 2 Corinthians 9:7

Hello Bridges Family,

Following is the financial update covering September – October 2023, the first two months of the 2023-2024 fiscal year. We praise and thank God for his great faithfulness and goodness to Bridges. Amidst uncertainty and transitions, we continue to trust Him for what He has for our future.

Total income for the two months ending October 31 was $297,722 vs a budget of $308,117, a negative difference of $10,395. Contributions received were $26,856 less than the budget for this period. Other income in the form of interest on bank deposits partially offset the shortfall in contributions.

Expenses for the fiscal year to date were $302,624 vs a budget of $318,297. Total spending was $15,672 less than expected in the budget. The most significant differences by category were in Compensation and Program & Ministry, where spending was less than budget by $7,704 and $11,222, respectively. For Program & Ministry, we expect the spending to catch up later in the fiscal year.

Overall, there was a deficit of $4,902 (income less than expense) as of October 31, 2023, versus the budgeted deficit of $10,180, a positive difference of $5,278. Our fiscal year is off to a good start. We ask you to continue praying for God’s provision to meet our expenses.

On a separate note, we have been experiencing roof problems over the Worship Center and office areas. The Elder team has decided to proceed with a complete roof replacement rather than doing patch/repair work and deferring replacement for a couple of years. The total cost will be about $250k, and we will be funded out of our reserve balance, which currently stands at about $1.1M. Work is expected to start in early December.

By way of reminder, there are multiple ways to give, both in the Worship Gatherings and online, and we thank you for your support in giving.

In the Lord’s service
Beatrice Thella
Treasurer