Financial Update – October 2011
Conference Budget and Church Giving
Please reference Schedule A and Schedule B for a summary of the conference budget as of October 31, 2011. The total annual budget for 2011 is $3.5 million. The local churches support the conference budget through the CMF bill. Through ten months, giving for CMF from local churches is $2.8 million, 5% less than budget and 7% less than the amount received as of October 31, 2010. For CMF, as of October 31, 2011, a deficit of $68,985 has been recorded. This is due, in large part, to the drop in church giving for this fund. Total expenses of $2.8 million, through ten months, are 4% lower than budget and 3% less than expenses reported as of October 31, 2010.
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. There were a few changes in 2011, namely; the Connectional Health Care Fund (CHC) and a Mandatory Health Care Fund (MHC).
Please reference Schedule C for a summary update of church giving, as of October 31, 2011.
A total of $14.6 million has been received as of October 31, 2011. This is 71% of the 2011 budget for all funds, $20.6 million. For “billed funds’, pension, health insurance, property & liability, etc., a total of $9.9 million has been paid, or 73% of the billed amount of $13.4 million. The goal for the year is to receive 100% of the billed amount for these funds.