Financial Update

For where your treasure is, there your heart will be also.

- Matthew 6:21

OroNaz Church Financial Update: August 2022
Our Church Year runs from March to February

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 the Love of Money.

Have you ever heard the saying “money is the root of all evil”? Although this saying basically comes from the Bible, it’s not exactly what the Bible says.

In 1 Timothy 6:9-10, the apostle Paul wrote, “Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.”

Some in the church have a belief that money is evil; however, in scripture we see that it is our relationship with money that is the bigger factor. As we have been walking through John together as a congregation, we can compare Paul’s writing in 1 Timothy to Jesus’ words in John 15:9 & 12, “As the Father has loved me, so have I loved you. Now remain in my love…My command is this: love each other as I have loved you.” Christ tells us that nothing should get in the way of our relationship with Him. As we love our neighbors, we are loving God. This is why the love of money is so dangerous. Money can become an idol that gets in the way of our relationship with our Heavenly Father. When money is first in our life, Christ is not. In Matthew 6:24, Jesus specifically tells us, “...You cannot serve both God and money.” If this is the case, how can we serve God and have a healthy, Godly perspective of our finances?

Later in his letter to Timothy, Paul continued, “Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share.” (1 Timothy 6:17)

This verse is for ALL of us, regardless of our income or social status. We are all called to love God, putting Him as the greatest priority in our life. Simply put, to remain in His love we must put our hope in God and His provision for our lives; not in money, not in financial security, not in our ability to provide for ourselves. Because we are called to love God and love each other, then we must honor God with our finances by giving generously to those in need and by tithing so that the church can extend love and care to those in the community.
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August Financial Summary: August is the 6th 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. 
Projected budget
March 2022-February 2023 $775,714
Needed for Month–August 2022  $64,642
Giving for August 2022   $47,117
Expenses paid in August 2022 $55,974
 
Needed Year to Date $387,857
Giving Year to Date  $326,455
Expenses Paid Year to Date $366,092

Please note: The CLT wants to steward the finances well at OroNaz by always spending less than we receive in Tithes and Offerings. In order to cover the necessary expenses of our church and operations in April, the CLT transferred funds from Reserve Savings. It is our hope that Tithes and Offerings will provide for our church body going forward.

Shares for Others Paid Year to Date
World Evangelism Fund $16,703
Pensions & Benefits $7,232
Education $7,232
District Ministries $12,857

FINANCIAL CONNECTION ARCHIVES: Click the month below you'd like to view.
APRIL 2022     MAY 2022     JUNE 2022

What is the difference between a tithe and an offering?

Tithe: The Biblical principle of tithe comes from the Old Testament, where Abraham paid tithes to Melchizedek (Genesis 14:20; Hebrews 7:6); and Jacob vowed unto the Lord and said, "Of all that you give me I will give you a tenth" (Genesis 28:22). The word “tithe” means “tenth.” The tithe has a reference to ownership, that we return to the one who owns everything a portion of what he has given to us. The Bible talks about the neglect of this duty, where it was sternly rebuked by the prophets (Amos 4:4; Malachi 3:8-10). It cannot be affirmed that the Old Testament law of tithes is binding on the Christian Church, however, the principle of this law remains, and is incorporated in the gospel (1 Corinthians 9:13-14); and so our motivation that compels us to be generous givers, as followers of Christ, is greater now than in Old Testament times; as Christians, we should go beyond the ancient Hebrew obligation in consecrating both ourselves and our possessions to God. Tithing becomes part of our worship to the Lord.
Offering: Giving above and beyond the tithe is considered an offering. The Bible doesn’t command us to give offerings, but it does encourage us to give generously, and offerings—since they aren’t required—reflect the generosity in our hearts. Until the tithe is met, an offering cannot be given.

God Provides Through A Unique Way
Payroll Protection Plan Update

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.

OroNaz Started with:

When we applied for PPP Forgiveness

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

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