b'F I N A N C E CO M M I T T E EBeing generous changes us. Our generosity is an expression of gratitude for all that God has provided to us. When we give, we receive, and our spirits grow.By our generosity, we move toward a closer personal relationship with God and others. We are generous givers of our time, talent, and financial resources to the mission of our Lord Jesus Christ, and to the mission of Grace & Holy Trinity. We are generous in sharing our resources, both with those outside our walls, and for the care and nurture of our members and facilities. Thank you to everyone who contributes time, talent, and financial resources to GHTC.As reflected in the accompanying financial presentation, we Projected 2022 Sources of Income recorded a small deficit of $1,660 in 2021 versus a forecasted deficit of $44,731. We are very fortunate to have this favorable variance against the 2021 budget, which was made possible by 6% Other Sources your generosity. Pledges and non-pledge gifts exceeded their 7% 50% budgeted amounts by more than $38,000.Rectricted Funds8% 7% 6% Other Sources Turning now to 2022, you will see that the Vestry approved 50% Rectricted Funds a preliminary deficit budget of $16,290 for 2022. As shown Edowment Fund-Vestry Directed 8% in the financial presentation and the graph to the left, 2022 Edowment Fund-Vestry Directedprojected income of $1,444,600 is forecasted to come from Edowment Fund-Foundation pledges (50%), the GHTC Endowment Fund (29%), the Edowment Fund-Foundation Pledges Vestry Directed Endowment Funds (8%), Restricted Funds Pledges (7%), and from other sources such as fundraisers and other 29% miscellaneous contributions (6%). 29%As of January 18, 2022, we had received 177 pledges to the 2022 Annual Giving Campaign. These pledges total $747,192. In 2021 we had 157 pledges totaling $612,576. The budget does not show the full $747,192; as a reserve for potential unpaid pledges is applied, reducing the total to $720,000. The $720,000 represents an increase of over $100,000 from the actual pledges for 2021. Projected 2022 Expenses by CategoryWe are very pleased with the results of the 2022 pledge drive. The $720,000 represents an increase of over $100,000 from the actual pledges for 2021 and is the highest level since 2018. 1% Community For 2022 we had 77 increased pledges, 10 decreases, 56 that 11% 1% Community stayed the same, and 34 new pledges. 11% 28% Outrach18% 28% Outrach The graph to the left summarizes the distribution of GHTCs 18% Worship budget by category. WorshipBuilding and Property In our budget discussions with the Vestry, we observed a Building and Property shared belief that GHTC is in a transition period emanating Education from the retirement of our long-time Rector.The continued Education strength and dedication of GHTCs staff and lay leadership, the Administration arrival of our new Rector in January 2021, the congregations 20% 22% Administration20% 22% ongoing generosity, and the long-term financial stability that the church enjoys through the resources of its endowed funds give the Finance Committee and the Vestry the confidence that we will successfully navigate this transition, and return to a balanced budget in the near future. If you have questions, please contact Mike Joyce, Chair of the Finance Committee; the Wardens, or members of the Vestry.Submitted by Mike Joycejjoyce715@aol.com12 | ANNUAL REPORT'