The total annual budget for 2012 shows revenue of $3,400,000 and expenses of $3,050,136. The conference expense budget for 2012 is 8.6% less than total spending of $3,337,689 in 2011. The local churches support the conference budget through the CMF bill.
Through eight months of 2012, revenue from church giving to CMF totaled $2,134,291. This was $132,376 or 6% less than budget, and $32,415, or 1% less than the August 2011 total. The monthly average through August for CMF receipts is $266,786. To reach the 2012 budget goal of $3.4 million, this average would need to increase by $49,641 or 19%, to $316,427 per month.
Total expenses after eight months were $2,080,800. This was $93,729 or 4% less than budget and $225,376 or 10% less than the August 2011 total. Schedule B provides details of cost center budgets. Most cost centers were under budget and some of this is due to timing differences. At this time we are still projecting expenses to be on budget for the year.
Church Giving – All Funds
Please reference Schedule C for a summary of church giving for all funds for the eight months ending August 31, 2012 with full year comparative information for 2011 and 2010. In 2011, a total of $18.5 million was received against a total budget of $20.5 million, or a paid ratio of 90%. This was similar to 2010, when the total received was $18.6 million or 89% of the total budget. In 2011, there were 270 churches or 61% of the total number of churches that paid all funds 100% or more. In 2010, 63% of churches paid all funds 100%.
Through eight months of 2012, a total of $11,459,096 has been received or 57% of the budget. For the three apportioned funds; Connectional Ministries, World Service and General Church, a total of $3,729,088 was received or 53% of the budget. A total of $7,255,411 or 59% of budget was received for all billed funds relating to pension, health insurance, property & liability and workers compensation. Giving of 57% of the budget, through eight months, is one point higher than the paid ratio of 56% at August 2011. At this time, we expect giving in 2012 will be similar to the payouts of 90% and 89% for the years 2011 and 2010, respectively.