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Q&A: What’s the Best Way to Cut Our Budget as We Weather the Effects of the Pandemic?

Real financial change takes place when you conduct a mission-based impact assessment.

Q&A: What’s the Best Way to Cut Our Budget as We Weather the Effects of the Pandemic?
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With the financial strain created by the ongoing pandemic, our church must make some difficult decisions to stay financially afloat right now. Should we lay off staff? Should we look for less-expensive service providers? What are some do’s and don’ts when it comes to cutting costs?

One very tempting thing to do is to cut staff and to pare down operations. But here is a cautionary word of advice: Do not reduce the operational and financial administration to a crippling level that hampers your ability to make wise financial management decisions. This is certainly not the right time to terminate the people who are gifted and talented in—and capable of—making such decisions.

When it comes to cost reduction, reducing costs by going to cheaper vendors is not a real solution. You’re only going to save a limited amount of money by changing vendors for copier paper and ...

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Posted:
  • July 28, 2020

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