Financial Update

- Matthew 6:21

FINANCIAL CONNECTION: It is the goal of the OroNaz Finance Team to keep this church family updated on our financial blessing and challenges. Through this expanded Financial Connection we will share biblical teachings that direct the decisions made by the CLT and we hope you can find application to your life as well.  This month, we’ll focus on stewardship.

Let’s take a moment to look at Matthew 25:14-30. It is a story of three servants looking after their master’s money while he’s on a journey.

Depending on the version or translation you read, the title will vary:
—The NIV refers to this story as ‘The Parable of the Bags of Gold’, but the story isn’t really about the gold.
—The King James Version refers to this story as ‘The Talents’, but this story is not centered on a sum of money or our giftings.
—The New Living Translation refers to this story as the ‘Parable of the Three Servants’, but once again this story is not about the three servants.

When we dive into this text, we learn each of us are entrusted with different amounts of money. It is up to us to decide how to manage it. Do we put the money to work or do we bury it? This money, that has been entrusted to us, does not belong to us but to the master of all: God!

Just as in the story, the master will return and settle the accounts with each of us. As believers, we are called to manage all that God has given to us. This concept is stewardship.

Financial Stewardship means managing our finances in such a way that will bring glory to our Heavenly Father.

The true message of this parable is actually about our hearts.

In our hearts, how do we view God? Do we view Him as a harsh master or a loving provider? This story reminds us to recognize that God has entrusted us to manage that which he gives us. When we steward our finances by returning a tithe to the church, by being intentional with our finances and by helping those in need, God rejoices,

                                                                                                        “Well done, good and faithful servant!”
                                                                                 _________________________________________________

April Financial Summary: April is the 2nd month of the annual budget year that runs March 2022 to February 2023.  Thank you for your continued financial commitment; it is a testament to what God is doing in us and through us.

Our Pastor, CLT, Treasurer and Finance Team welcomes your questions and feedback. Please email the Finance Team at finance@oronaz.org to start a conversation.

Besides the financial report, some have asked about getting minutes of CLT meetings. To request a copy of past approved CLT minutes email CLT@oronaz.org. 

As part of the governments recovery plan to stimulate and shore up the economy during the early days of the COVID-19 Pandemic, the Church Board approved us applying for the Payroll Protection Plan (PPP). Working with our Bank, the church was eligible to receive a $10,000 Grant and was approved for $98,000 in payroll protection, which was a loan with a forgiveness provision. We have weathered this pandemic, keeping our staff employed during this time. The church has followed all of the Federal Government’s provisions for the forgiveness of the PPP, and after submitting it to the Bank, they determined that we would need to repay $10,000 plus a small amount of interest accrued after approval, they determined that the remainder, $98,000, was forgiven. Because we spent the money from the PPP for payroll and mortgage payments, we were able to hold back the money budgeted for these things in a restricted account as they were paid. At the end we had set aside out of our budget the full amount of $108,000. Below we have charted this for you. The amount of interest was $81.45, leaving us with $97,918.55.

With $97,918.55 funds available, the Finance Team discussed that we need to use some of the money to help others, not just for ourselves. The recommendation to the Church Leadership Team was to pay a 10% tithe off the money to help others, and then use the rest in a prioritized spending plan developed last year for extra funds above the budgeted amounts. More on the prioritized spending plan later.
 
The Church Leadership Team approved the Finance Teams recommendation. The  tithe on the forgiven amount was decided to be split in two gifts: the first 5% ($4895.93) was allocated to World Missions (NMI) to give to those in need on the mission field, the second 5% was for the same amount,  and was allocated to Local Missions in our area.
Our World Missions Council (NMI) split their money and gave it to two projects:

• $2,447.97:  Project 1 – NCM COVID - 19 Response:  “As the coronavirus (COVID-19) pandemic continues, Nazarene Compassionate Ministries is committed to acting in compassion as we respond together throughout the crisis, including the long-term needs that will go beyond immediate risks and dangers. Together, we can continue to be formed by Christ to respond in love, care, patience, devotion, and boldness.”  More details at: https://www.ncm.org/covid19 [ncm.org] and https://issuu.com/ncm.magazine/docs/covid-19_digital
• $2,447.96:  Project 2 – NCM The Shechem Children’s Home: “The Shechem Children’s Home is a short-term assessment center for children who are survivors of online sexual exploitation of children (OSEC). This is a form of human trafficking where images or videos of children performing sexual acts are sold over the internet. It is a growing problem globally and, in the Philippines, where Shechem is located.”  More details at: https://www.ncm.org/shechem

Our Local Missions designation for the other top 5% ($4895.92) was split into four gifts:

• $1223.98: Gift 1 – Caring for Women Pregnancy Resource Center: Caring For Women is a nonprofit pregnancy resource center. We have helped teens and women in Butte County with free services for over 25 years. The Pregnancy Resource Center offers a friendly, caring and confidential atmosphere. More details: https://caringforwomen.life/index.htm
• $1223.98: Gift 2 –The Axiom Youth Center: The Axiom is a Youth Center in Downtown Oroville Focused on building platforms for success for students to realize and utilize their untapped potential. More details: http://www.theaxiom.org/
• $1223.98: Gift 3 –The Greater Oroville Homeless Coalition: The Greater Oroville Homeless Coalition is housed in the Hope Center to assist in-crisis individuals and families keep their homes. They work to end homelessness one individual or family at a time, whether you are in trouble of losing your housing or if you are trying to find housing. More details: https://www.facebook.com/OrovilleHomelessCoalition/
• $1223.98: Gift 4 –The Oroville Rescue Mission: The Oroville Rescue Mission is a religious non-profit organization which serves the homeless and disadvantaged in the Oroville area and its surrounding communities. It is affiliated with the Association of Gospel Rescue Missions. More details: https://www.orovillerescuemission.org

Prioritized Spending Plan Distribution of Remainder: $88,126.30
Last year as part of our budget process the Finance Team and CLT set up what we are calling the prioritized spending plan where extra funds above the budgeted amount would be distributed as follows: 75% ($66,095.03) was allocated to debt repayment on our construction loan, 10% ($8,812.67) has been set aside for our Maintenance Team to use on the many needs of our campus and buildings, 5% ($4,406.33) has been set aside for Local Compassionate Ministries future needs, 5% ($4,406.33) has been allocated to our NMI team for future needs, and the last 5% ($4,406.33) has been set aside for the CLT to aid our church ministries and their needs.
We have been truly blessed! We will continue to steward God’s finances to the best of our ability. Any questions feel free to email finance@oronaz.org

Joey McCoy, Treasurer and the Finance Team