September 2021 Update

September 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 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 September 30th is above budget by approximately $49,000.
  • Personnel costs are below budgeted expenses by 1.9%.
  • Actual ministry expenses are below budgeted expenses by 11.2%.

2021 Debt Budget and Balance

  • Ending debt balance as of September 30, 2021, was $2,199,459 which is the lowest balance since moving to the Madison campus.
  • We are thankful for your continued commitment to reducing long-term debt. Designated debt payments average approximately $40,000-$45,000 per month.

Missions Projected Budget to Actual

  • Missions represent 10% of our annual Budget and are 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 began paying 5% of 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.