Wesley Finance Letter
April 16, 2020
Dear Wesley Family,
Little did I know the challenges we would all be facing when I was asked to join the Finance Committee at Wesley for 2020. Not only that, I somehow got deemed the Chairman of the Committee! Thankfully I work with a great Finance Team (Vickey Paggio, Jan Grover, Marilynn Harrigan) with Connie Pruitt’s guidance.
Not only are we faced with the COVID-19 pandemic, but our community, nation, and in fact the whole world also faces severe economic challenges brought on by the Coronavirus. Of course, Wesley is not immune. However, we will survive and be okay!
I wanted to share some of the steps we have taken and are taking in concert with Ernie, church leaders, and the Administrative Board:
- We got approval to make interest only payments on our mortgage for at least three months. We inquired about deferring mortgage payments altogether, but this is not currently an option.
- Applying for a loan under the Payroll Protection Program (PPP) which is part of the federal Coronavirus legislation known as the Cares Act. This loan is forgivable and need not be repaid if certain very achievable requirements are met. We have committed to continue to fully pay our church staff at least through May. We will review our situation in coming weeks, and this loan could help us keep this commitment into the summer at least. Our Bridges colleagues also benefit from these actions.
- The Florida Conference is paying half of our pension expense for the next three months. We will also receive at least partial reimbursement for the expenses we have incurred in implementing our livestreaming functionality.
- Reviewing all of our expenses including asking for discounts or concessions where possible, and putting off or eliminating non-essential purchases.
What can you do?
- First and foremost, pray. Pray for physical, emotional, economic, and especially spiritual healing.
- Continue to meet your pledge commitment if you are able. In fact, for those in a position to do so, consider pre-paying some of your 2020 pledge, and / or making a one-time additional offering.
- Again, if you are able, consider sharing some or all of your government stimulus check with God and Wesley United Methodist Church.
- Sing! And keep praying!
We will continue to update you on our financial condition as we move forward. Remember you can give via text, mailing in a check, going to the church website, or calling the church office. Feel free to reach out to anyone on the committee if you have any questions. God bless you, and stay safe.