March 2021 Update


Staff Realignment Update 

March 2021 Update

The 2021 budget reflects another collaborative effort between the men and women on staff, Finance Team, Personnel Team and Church Council to ensure that it is sustainable, in line with our current giving, and reflects our calling to Follow Jesus, Be Changed by Jesus, and Join Him in His mission. The 2021 budget will continue to showcase Broadmoor’s commitment to missions. Ten percent of our 2021 Ministry Budget continues to be reserved for missions in support of the Cooperative Program and Broadmoor Missions including Global Missions (International Missions, North American Missions, and State Missions) as well as Broadmoor’s Mission Partners. The budget also shows a significant investment in ministry programs and resources while continuing to retire debt, add to operating reserves, and make campus improvements.

Estimated Budgeted Contributions by Month

Contributions and Expenses

  • Giving through March 31st is just slightly below budget.
  • Personnel costs are 2% above budget due to the timing of accrued benefits payouts during the first quarter.  Actual personnel costs are expected to be back in line with budgeted costs by the end of the second quarter.
  • Actual ministry expenses have been below budgeted expenses by 25%.

2021 Debt Budget and Balance

  • Ending debt balance as of March 31, 2021 was $2,633,345 which is the lowest balance since moving to the Madison campus.
  • We are thankful for your continued commitment of reducing long term debt.  Designated debt payments continue to average approximately $25,000 - $30,000 per month.

Missions Projected Budget to Actual

  • Missions represents 10% of our annual Budget and is divided equally between Broadmoor missions and the Cooperative Program.
  • We have been working with our missions partners to provide funding as their needs arise. 
  • Starting with the April 2021 Cooperative payment, the church will pay 5% of year to date monthly contributions or $20,000 whichever is greater. 
  • The remainder of the funds for Broadmoor Missions and the Cooperative Program will be sent after year end when we determine final contributions for 2021.