Budget Process
We seek to steward God's gifts to make the greatest impact in the world. We have designed our budget process to be a collaborative conversation among key leaders and the congregation. What is God calling us to do? How do we use what resources he grants to do what he calls us to do. We hope you join us in the discussion that occurs every spring.... Perhaps you have a ministry idea that you would like to see happen at Pacific. Spring is the best time to get serious about the discussion because it is then that we plan for the year. Begin to seed the idea in the fall and winter and push for it in the Spring. If it coincides with Pacific's mission and vision, it may be embraced and built into plans of the church in the coming year.
Step 1: Board begins the budget process (March). Instead of asking everybody what they want and then building a budget, we turn it around and ask, "What do we think is a reasonable income target for the coming year?"We look at the past. We look at the future. We look at present needs and challenges. We ask, "What is the Big Number?" Once that "Big Number" is approved the budget process unfolds until it is presented to the congregation in September for their approval. By this time key leaders throughout the congregation have already participated in the budget.
Step 2: Executive Pastor invites participation (April/May) We produce a nice little Budget Process Newsletter which explains budget highlights, process and timeline. This is a fully public process. Everybody gets to participate. Read the newsletter below.
Step 3: Receive proposals and deliberate toward a recommended budget (May) We start putting the numbers together. If you have worked budgets, you know this can be a bit gruelling. Some priorities stick. Some don't. It is in this context that we wrestle out the ministry of the church for the coming year. It is an important conversation--a holy one.
Step 4: Board receives a recommended budget (June). The Board receives the budget recommendation in June.
Step 5: Board recommends a budget to the Congregation (Aug/Sept) If the budget makes sense and conforms to the mission and vision of the church they submit it to the Church for approval in August or September.
Step 6: We implement the budget (Sept) Our budget cycle runs from September 1 to August 31 in order to follow the ministry cycle.
Step 7: We test and review the Budget (weekly, monthly, annually) Monthly the Board reviews the Budget. Monthly the congregation is updated on trends in giving and expenses in order to provide a quick overview. Every fall we have our accountants do a financial review of our financial practices. This report is completed in time for the November Annual General Meeting of Members.
Financial Reviews
Pacific does a full financial review every year. Our fiscal year runs from September 1 to August 31. Our accountants arrive in September and October to review our financial records. They provide a report for the congregation which is presented to the society in November of each year. You can read recent reports below.
Visit the CRA's Charity Site to review our finaces. Click Here