1st Quarter 2026 Financial Update

Finance Committee Report
1st Quarter (January – March) 2026 Financial Overview

2026 Approved Budget

Revenues + Designated Operating Reserve = Expenses
$4,086,672.44 + $396,636.67 = $4,483,309.11

The 2026 budget presented to the parish at the Annual Parish Meeting projects:
• Total Budgeted Expenses 3% higher in 2026 compared to 2025, and
• Total Budgeted Revenues 6% lower in 2026 compared to 2025.
The projected Deficit will be met with funding in the Designated Operating Reserve.

2026 Budget Goals

Your vestry, Finance Committee, Stewardship Committee, and St. David’s staff are working together, committed and focused, to reduce the Budgeted Deficit.
• Revenues ABOVE budget AND Expenses BELOW budget
• Reduce Designated Operating Reserve needed to balance the budget at year’s end

Thank You

Your gifts of time, talent, and treasure are so very much appreciated in our lives, together, at St. David’s. Please take away from this financial overview evidence of the collective leadership and shared commitment of partitioners and staff.

1st Quarter Revenues and Expenses

Revenues $49,287 BELOW Budget

Giving
Total Tithes & Offerings
$   494,526  1st Quarter Tithes & Offerings

Pledged Giving
$1,700,000  2026 Pledged Giving Budget
$1,145,869  2026 Pledged Giving
$   467,538  1st Quarter Pledged Giving

$   150,000  Giving Match – Pledged and One-Time Giving
$   107,638  Current Matched Giving
$     42,362  Meets the $150,000 Giving Match!

Projected End of Year Pledged and Matched Giving

$1,462,861 1st Quarter Projected - End of Year Pledged and Matched Giving

At the end of the 1st Quarter, it is projected the $150,000 Giving Match will be met in this, the Easter season. Giving is projected within $237,139 of the $1,700,000 Pledged Giving Budget. Throughout the year, giving will support our living into Being Authentic, bringing our full and true self and all our gifts to the work of the Kingdon of God.

Garage Revenue

$ 1,380,000  Annul Garage Lease Budget
$    197,557  1st Quarter Revenue

AirGarage began managing the parking garage January 2, 2026, and the surface parking lot came online March 16, 2026. Each month, St. David’s receives Garage Revenue - 85 percent of net revenues; AirGarage receives 15 percent of net revenues. AirGarage has an incentive to increase parking revenues, and St. David’s monthly revenues increase.

1st Quarter month over month Garage Revenue increases is encouraging. Online, real-time parking information about St. David’s secure parking provides space availability, competitive pricing, and prepaid reservations. Enhanced garage signage and directions to the garage’s entrance will make the garage more accessible.

Foundation Support

$    326,785  2026 Budgeted Foundation Support
$    109,447  March 2026 Foundation Support Distribution

The Foundation Board of Directors approved support for the continued garage lease payments shortfall with a 5% distribution in 2026. Foundation support increased $71,785.

Expenses $101,151 BELOW Budget

$    52,853  Payroll Expenses BELOW Budget
$    48,298  Total Expenses BELOW Budget
$  101,151  1st Quarter Expenses BELOW Budget

Understanding the need to plan a constrained 2026 budget, our St. David’s staff and leadership carefully considered and projected expenses. In the 1^st Quarter, spending BELOW Budget is attributed to staff and leadership considering any opportunities to reduce expenses. Thank you.

Life among the Believers
Day by day, as they spent much time together in the temple, they broke bread at home and ate their food with glad and generous hearts, praising God and having the goodwill of all the people. And day by day the Lord added to their number those who were being saved. Acts 2:46-47