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.  

King Solomon is known for his wisdom and wealth during his reign over Israel. This month we’ll look at several Proverbs of Solomon that impact our personal finances.

Over the past several years, OroNaz has been navigating a tight financial situation. We have experienced fluctuating tithes and attendance which are the two primary factors that contribute to OroNaz’s finances. Despite those fluctuations, God has provided everything we have needed. When the Finance Team meets each month we look for ways to diligently steward all that God has given to OroNaz, as we are instructed multiple times in Proverbs:

Proverbs 10:4: “Lazy hands make for poverty, but diligent hands bring wealth.” This verse guides us to be proactive and to work hard in all that we do.

Proverbs 21:5: “The plans of the diligent lead to profit as surely as haste leads to poverty.” This verse is a reminder that any plan should be carefully thought out and intentionally made.

Proverbs 13:4: “A sluggard’s appetite is never filled, but the desires of the diligent are fully satisfied.” This verse guides us to be faithful workers, day in and day out. When the work or project is aligned with God’s plan, it will come to fruition.

These are three of many verses throughout the Bible regarding diligence. Diligence is defined as “constant and earnest effort to accomplish something.” This is an important concept when talking about finances because God is reminding us that it’s not just what you do, but also how you do it. What you do with your finances matters to God! He gives us the blueprint for Godly living and Godly finances: develop a plan, live on less than you make, give to those in need, and give back to your local church. How we think about and manage our finances also matters to God! We shouldn’t treat our money like an afterthought; looking back at the month and wondering, “where did the money go?” Rather, God wants us to work hard at a carefully thought out plan and stick to that plan month after month.

The Finance Team at OroNaz has tried to be as transparent as possible in recent years when it comes to how we steward God’s finances. We have been working diligently to develop a financial plan that meets the needs and desires of pastors, staff, CLT and congregants alike. As we have worked so diligently, OroNaz no longer finds itself in as tight of a financial situation. God has abundantly blessed this church and its congregation. As we walk in this season of abundance, the guiding biblical principles do not change! The Finance Team will continue to diligently steward every dollar that is given. We will continue to lean in to God’s word as we search and listen for His will for His church.                             _________________________________________________

The Finance Team and the CLT wants to proactively steward the finances that have been given to us. A part of stewardship is transparency and communication to our congregants. If you ever have questions about the finances at OroNaz or about personal finances, feel free to reach out to us at finances@oronaz.org.

August is the 6th month of the annual budget year that runs March 2023 to February 2024. Thank you for your continued financial commitment; it is a testament to what God is doing in us and through us. Please pray and/or give as God leads.

FINANCIAL CONNECTION ARCHIVES: Click the month below you'd like to view.
APR 2022     MAY 2022     JUN 2022     JUL 2022     AUG 2022    SEP 2022    OCT 2022    NOV 2022     DEC 2022     Jan 2023   No FEB 2023 report 
MAR 2023   APR 2023

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