2023 Broadmoor Budget
Thank you for giving generously.
Because of your tithes and offerings, the Gospel has changed lives within our church and community. Below is the proposed 2023 Ministry Budget, approved by the Finance Team, Church Council, and Deacon Body. The total 2023 Ministry Budget goal is $7,900,000. Consistent with our Bylaws, there will be an opportunity for questions and comments regarding the budget on February 15th at 6:00pm in Venue 101. Following this opportunity for discussion, the Ministry Budget will be presented to the church body on February 19th, for a vote of affirmation.
How Is My Giving Used?
The Ministry Budget
The Ministry Budget includes all budget line items needed for the day-to-day operation of our church. This includes each individual discipleship ministry budget needs as well as debt retirement, maintenance on our physical facility, personnel salaries and benefits, and operational expenses such as equipment maintenance and replacement, church vehicle maintenance, and Internet Technology. Consistent with the 2022 budget, a portion of the missions budget is contained within the overall 2023 Ministry Budget. We are reserving ten percent of our Ministry Budget in support of the Cooperative Program and Broadmoor Missions including both Global Missions: International (Lottie Moon), North American (Annie Armstrong), State Missions (Margaret Lackey), and Broadmoor’s Missions Partners. 100% of your tithe goes towards the ministry budget, unless you specify otherwise.
Missions Partner Support
Any additional funding for our partners given above your tithes must be designated as “Missions Partner Support” on your contribution envelope or as designated through online giving. Access to a complete listing of all Broadmoor’s Mission Partners can be found online at www.broadmoor.org/missions.
Debt Service and Cash Reserves
During 2022, Broadmoor paid off $1,500,000 in long term debt, ending 2023 with no external debt. During the year, Broadmoor received $305,000 in funds designated for debt service which was used to replenish the cash used to pay off the long term debt. Broadmoor will continue to have debt service as a designated line item. In periods in which Broadmoor does not have debt, any funds designated for debt service will go towards establishing cash reserves.
Periodically throughout the year, we will collect special offerings to support initiatives that our church has identified as a priority. These include Annie Armstrong, Margaret Lackey, Lottie Moon, Adoption, and Community Care. These special offerings are in addition to the amount included in the Ministry Budget. 100% of the gifts given for these special offerings are directed to support these initiatives.