Annual Financial Summary
for 2006

Although Central Presbyterian Church continues to experience an operating deficit, thanks to the commitment of our congregation to operate in the black, the trend is in the right direction and Fiscal Year 2006 ended on a very upbeat note. Having projected a deficit for the year of $60,000, our actual year end deficit was approximately 45% of that due to cost savings and a wonderful surge in revenue in December which was a full $24,603 above our projections.

On the other hand, our pledged gifts in 2006 were 96% of what we had anticipated for the year or $11,489 short of what we had counted on. Had we received these promised funds, and considering the unexpected additional income, our deficit for 2006 would have been reduced by 64% or more than half.

The bottom line is that we were saved from a deficit which would have been significantly higher than we expected by nonpledged gifts to the church which were 166% higher than we had planned. Can there be any question that someone is watching over us?

Another sobering note is that we began the year with 248 members and ended with 242 for a net loss of 6. We had hoped to increase to 262 in 2006 so we fell short of that by 20 members.

The good news is that these numbers are manageable and we plan to continue addressing the deficit by increasing our income and carefully controlling our costs until the deficit is gone and the church is once again on a firm financial footing. Every member of the congregation has a role to play in making this possible through introducing new people to our unique community of faith and incorporating stewardship as a central aspect of membership. If we each commit to these two principles, we will succeed.