April 2013 Financial Update

 

Conference Budget
Please reference Schedule A and Schedule B for a summary of the conference budget for April 2013.
As a result of the faithful giving of EPA local churches to the connectional ministries fund or CMF we ended 2012 surpassing the $3,400,000 budget. Total receipts were $3,401,619 and December 2012 was another outstanding month with receipts totaling $432,684. Thanks to all of the congregations who continue to support this ministry.

For 2013, the annual budget is the same as 2012, $3.4 million. Through four months a total of $1,028,854 has been received. This is $40 thousand less than receipts from a year ago, at the same period, and $104 thousand less than 2013 budget through April.
The conference expense budget was managed very effectively in 2012 by all committee, boards, agencies and others. Total expenses were $2,906,875, 5% or $143,261 less than the 2012 budget of $3,050,136, and 13% or $430,814 less than 2011 expenses. In summary, the 2012 conference budget produced a surplus of $494,744. This surplus was directed to The Pre-82 Pension Liability according to Resolution 2012-21. For 2013, the conference expense budget of $2,850,136 is $200 thousand less than the 2012 budget. Through April 2013, total expenses were $879,141, 11.7% or $116,216 less than the year-to-date budget and $126,897 or 12.6% less than 2012 expenses at the same period.
2012 Audited Statements
The 2012 audited financial statements for the following nine organizations have been completed and are posted on the Conference web site. If you have any questions, please contact Peter T. DiNofia, EPA Conference Treasurer.