REVENUES
The COVID 19 pandemic has presented revenue challenges for St. Richard’s in 2021. The YMCA that met in our Parish Hall five days a week and provided $42,000 ($3500 a month) revenue is not coming back. We are constantly looking to replace that revenue with other groups.
Gifts and Pledges: The budget is based on the amount that is pledged. In 2021, the hope is to keep our pledge base strong.
Prepaid Pledges: Pledges can be given before the end of 2020 to be used for 2021 as there is often a tax advantage for the donor. Prepaid pledges are divided by 12 and drawn on through out the year.
EXPENSES
Personnel: The largest expense in the budget is personnel. In addition to our full time rector, parish administrator and sexton, we employ the Director of Music and the assistant parish administrator part time. This year we are adding a part time staff position: camera technician to the budget as we are committed to continuing the Live Stream worship. The camera technician is currently budgeted at $75 a week.
Diocesan Support: The temporal oversight for St. Richard’s lies with the Diocese of Central Florida while the spiritual oversight is with the Diocese of Kentucky. We are assessed 12% on our plate and pledge income and are required to pay it according to the Canons of the Diocese of Central Florida. We pay our full assessment each year to remain in good standing with the diocese in which we reside.
Property and Liability Insurance: In 2021 it is necessary for us to contract with a new insurance company as we discovered in 2020 that our property insurance is inadequate to cover most kinds of damage. This will increase our Insurance line item by $12,000. An unfortunate increase.
Added Technology: While we are grateful that donations in 2020 in the amount of $10,000+ enabled us to afford a high definition camera system for the worship space, we expect to incur additional expenses for technology as we continue to live stream and innovate our other educational and fellowship offerings for the online world.