Finance Update
The latest update from our Finance Team.
Finance Update: December 5, 2023
The General Fund (GF) captures most — but not all — of our expenses as a church. Because of the surplus in previous years, we’ve amassed a cash reserve called the Future Growth Fund (FGF) that has allowed us to launch growth efforts like Capital Pres Fairfax, a potential McLean building expansion, and now funds the expenses for Capital Pres Reston.
As the FGF draws down, our goal is to transition Reston site expenses to the General Fund next fiscal year.
To prepare for this, our challenge is to increase General Fund contributions to meet all expenses. That will require us to increase our General Fund giving by 12% this fiscal year and an additional 12% next fiscal year.
Giving Under Expenses: $(364,391)
Contact
Jennifer Graham
Director of Finance
jennifer@mcleanpres.org