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In a recent newsletter I wrote that I "would like to learn from others whose fiscal year is other than the calendar year. What are the benefits? What are the disadvantages? What do you recommend a congregation do to implement such a change?"
Click on A SUMMARY OF LETTERS to view what others wrote.
Richard Hill Writes:
At Hope Lutheran Church in Selden, NY, we have used the July 1 fiscal year for a few years now.
Although it is confusing to report in annual reports about what we received and spent compared to budget, we have found our anxiety level much lower in December than in the previous 20 years.
Now we can get through the two most difficult months right away and move into a whole new "10-month year" when we can catch up or exceed our goal. What is important, however, is that we monitor our income and expenses in the spring so we can minimize the end of June deficit.
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