Financial Update – November 2011
Please reference Schedule A and Schedule B for a summary of the conference budget as of November 30, 2011. The total annual budget for 2011 is $3.5 million. The local churches support the conference budget through the CMF bill. Through eleven months, giving for CMF from local churches is $3.045 million, $158 thousand less than budget and $191 thousand less than the amount received as of November 30, 2010. With one month remaining, we project that December will, at a minimum, match the total of $318 thousand, received in December of 2010.
Expenses totalled $3.069 million and were $153 thousand less than budget and $190 thousand less than expenses at November 30, 2010. We project December expenses to be $250 thousand. If December projections for revenue and expense are on target, the Conference will produce a balanced budget for the year.
Deadline for 2011
All 2011 remittances must be received by January 13, 2012. Please make note of this date on your calendars and pass this date on to the person on your staff that handles remittances. Any funds received after that date will be applied to 2012.
The total scope of the budget dollars for all funds is $20.6 million. The CMF budget is the only fund on the local church remittance form supporting expenses for the annual conference. The other two apportioned funds, World Service and General Church amounts are to support various ministries domestically and around the world. All conferences in the United States receive a budget from the General Church for these two funds. All of the other funds churches pay into are for benefits for clergy and lay; pensions, health insurance, property and liability, vehicle insurance, workers compensation.
Please reference Schedule C for a summary update of church giving, as of November 30, 2011. Giving for the three apportioned funds, as of November 30, 2011, totalled $5.3 million, 73% of the annual budget total of $7.2 million. Giving is behind last year by $279 thousand or 5%.
Through November, a total of $10.3 million was received for the ten billed funds for Pension, Health Insurance, Property and Liability, Vehicle Insurance and Workers Compensation. This represented 81% of the 2011 budget of $12.6 million. The unpaid balance was $2.3 million, and most of this was for Pension, $967 thousand, Group Health Insurance, $600 thousand and Property & Liability Insurance, $600 thousand. The Conference supports churches with unpaid balances by continuing to pay providers of Pension and Insurance without any change in coverage to clergy and lay participants.
Special Request from Bishop Peggy Johnson:
Indeed this is the season of giving. John 3:16 reminds us that “God so loved the world that he GAVE his only begotten son.” Giving is the greatest joy on earth. People who know how to give generously are never without the things of life they truly need. I pray that this season of giving will be a blessing to you as you bless others. I am writing to ask if you would consider paying 101% of your apportionments. In this way we will help our conference to make the budget for the end of the year and get us on a good start for the New Year. Please prayerfully consider this request.
My thanks to all of you for your hard work and service to the Lord.