Conference Budget – Schedules A & B
As a result of the faithful giving of EPA local churches to the connectional ministries fund or CMF we ended 2013 with a very strong result of $3,279,179. While this was short of the budget goal of $3.4 million by $120,821 or 3%, it was a reasonable variance. Given the ongoing struggles of many churches we are pleased and grateful for the commitment made by many to support this vital ministry.
Through three months of 2014 giving from local churches to CMF was $701,176. This was $148,824 less than budget and $63,307 less than the amount received from March 2013. CCFA discussed the decrease in revenues and acknowledged that it was a hard winter, the capital campaign and the date of Easter being moved to the second quarter might all have had an impact on revenues.
The conference expense budget was managed very effectively in 2013 by all committee, boards, agencies and others. Total expenses were $2,749,881, $100,255 or 3.5% less than the 2013 budget of $2,850,136, and $156,994 or 5.4% less than 2012 expenses. In addition, the 2013 conference budget included a line item of $549,864 to be directed to the Pre-82 Unfunded Liability according to Resolution 2012-21. The good news is that 2013 ended producing $529,298 to the Pre-82 Pension Liability only $20,566 or 3.7% short of the budget goal. Lower expenses helped to offset the shortfall in giving. In the first two years under resolution 2012-21, the conference budget directed a total of $731,381 to the Pre-82 Pension Liability.
As of the end of the 1st quarter 2014 conference expenses are on track with the 2014 budget.
Church Giving All Funds – Schedule C
Schedule C is a summary of all funds billed to the EPA local churches showing the amount billed, amount paid and balance remaining. This information is reported for the current year through March 2014 with comparative information for the previous year at the same period. In addition, the schedule shows the paid results for three previous full years, 2013, 2012 and 2011. Over the past three years, local churches have been consistent in paying 90% of the total amount billed. The paid ratio is 93% for pension, health care and insurance obligations. The paid ratio for apportioned funds is 85%.
I would like to extend a special thanks to all 272 churches that paid 100% of all funds in 2013. This represents over two thirds of all the churches in the EPA Conference. A full report listing all funds for all churches is provided each month to CCFA and the Cabinet.
Update Resolution 2012-21
The 2013 conference budget included a line item of $549,864 to be directed to the Pre-82 Unfunded Liability according to Resolution 2012-21. The year ended producing $529,298 to the Pre-82 Pension Liability only $20,566 short of the budget goal. In the first two years under resolution 2012-21, the conference budget directed a total of $731,381 to the Pre-82 Pension Liability.
As to the strategy in the resolution on church sales, since the resolution was passed there have been four church sales that generated net proceeds of $398,516. Fifty percent (50%) or $199,258 has been directed to the Pre-82 Pension Liability, twenty five percent (25%), or $99,629 to the EPA Board of Trustees and twenty five percent (25%) or $99,629 to New Church development and Re-Development of older churches. Separate accounts for each of the three funds are established at Fulton Bank and managed by the Mid Atlantic Foundation of the United Methodist Church.
A total from these two strategies directed to the Pre-82 unfunded liability after two years is $962,435. Fulfilling Our Covenant Stewardship Campaign is the third strategy included in Resolution 2012-21. The goal was to raise a minimum of $3 million. To date, a total of $3.7million has been pledged from individuals and churches and $819 thousand has been paid.