In our discussion of the Stewardship campaign and the pledging process, we’ve mentioned that pledges are used for budgeting purposes and that even in the best of years, pledges and the total payments received by the end of the year don’t line up exactly. For that reason, the Vestry usually allows for some “slippage” from the total pledge number, on the expectation that the total payments on pledges will fall a little short of the total pledges that were turned in during the Stewardship campaign. Historically, St. Martin’s has usually come very close to 100% payment of its pledges, usually within 1-3% of the total amount of the pledges, and occasionally with total payments that actually exceed the total of the pledges.
But it is clear for multiple reasons that we are living in uncertain times, and so, perhaps it is not a surprise that this year’s shortfall is roughly 10%, much higher than we have seen in the past. Based on previous cycles, we know that some people will pay their pledge at the end of the year, and there’s often an increase in payments seen during Advent and Christmas. While we take some hope from that expectation, the current shortfall is disconcerting. If it persists, then there will be little to carry over to next year’s budget and the 2023 budget will need to be more conservative about our planned spending, in case this year’s shortfall is a first glimpse of a “new normal”.
If your 2022 pledge is slow in making it to the church office, I encourage you to do what you can to catch up before the end of the year. If you’re “on track” on your 2022 pledge, thank you so much! I know that the Stewardship materials have repeatedly said that there’s “more than enough” to fulfill our needs, but we can’t afford to become complacent if we want to make our dreams for the future a reality. Those dreams include the possibility of hiring an assistant rector, programs for our youth, and other worthy and enriching goals.
I write with deep thanks for our wonderful community, and on behalf of the Budget and Finance Committee,
Chris Reynolds
