Highlights of the 2024 budget include:

• Planned spending was set to match anticipated 4% growth of ministry fund giving over 2023 amount (previously known as general fund).
• Increase overall planned spending by approximately 6% compared to last year actual.
• Biggest increases include Salaries and Benefits for staff and facilities cost due to accelerated debt repayment strategy.
• Accelerated debt repayment to enable Midtown payoff and $1 million remaining balance at West by balloon payment April of 2029.

Several important notes:

1. We only budget for general operating income and expense.  Any donations for specific use are not planned in the operating budget. This means that separate funds like Church Plants, Great Commission, Interns Support Raising, or Mission Trips will not have an impact on the budget.
2. Although designated funds are not budgeted, Citylight does plan to spend or give in 2024 above the received designated funds for several Outside Giving aeras. These are funded by the general fund and are grouped in the “Outside Giving” grouping.
3. The Mortgage Principal is not typically included in an expense (And Budget).  But because the team’s desire to intentionally allocate additional funds in 2024, an expense account was created with a sub-account to offset the expense as payments are made throughout the year.

Another helpful view of the proposed budget is by Citylight Ministry Teams. We have a great team of 60 employees across 15 teams. The teams are allocated portions of the above budget. The below table shows the total expenses segmented by allocation group.