Charge for Long-Term Financial Planning Task Force

Long-Term Financial Planning Task Force

Preface
Financial stability is fundamental to FPW’s long-term success. Beyond balancing our operating budget each church year, our future stability requires planning for the long-term stewardship of FPW’s buildings, personnel, reserves, income, and other financial resources.  FPW needs to develop a longer-term financial planning framework to help anticipate and prepare for not just our annual operating requirements, but also for significant future capital expenses and potential changes in sources of revenue.

Purpose
To assess FPW’s long-term financial sustainability and develop a ten-year planning framework that will assist the Parish Committee and the congregation in making informed financial decisions.

Charge
The Task Force will create a report that includes:

1. A 10-year outlook identifying projected revenues, annual operating expenditures, major meeting house and parsonage expenses, and other capital needs, and to include:
   1. A statement of assumptions regarding financial risks, trends, and opportunities,
   2. Likely scenarios for a future capital campaign.
2. Recommendations for minimum levels in reserve funds and general cash reserves as well as appropriate balances in endowed accounts.
3. Strategies for managing potential loss of revenue, such as from major tenants or other sources. Include revenue scenarios such as legacy giving and increased rental income.
4. A process for ongoing annual review and updating of the long-term plan.

Task Force Composition and Membership
Task Force members (6-8) should reflect the congregation’s diversity of experiences, gifts, and perspectives and possibly include representation from Building & Grounds, Finance, Parish, and Trustees. The Parish Committee will solicit volunteers to serve on the Task Force and identify the final membership.

Resources
The Task Force may make use of outside expertise, including consultants with experience in stewardship, financial sustainability, or long-range planning, as authorized by the Parish Committee. Additionally, a set of information resources will be available from the summer planning group.

Authority and Limits
The Task Force serves in an advisory capacity and will make recommendations to the Parish Committee. It is not authorized to implement policy or commit church resources.

Timeline and Deliverables
Monthly updates should be provided to the Parish Committee, with a final written report submitted to the Parish Committee within four months (Oct. 2026-Jan. 2027), subject to extension.