The total annual budget for 2012 shows revenue of $3.40 million and expenses of $3.050 million. The conference expense budget for 2012 of $3.050 million is 8.6% less than total spending of $3.34 million in 2011. The local churches support the conference budget through the CMF bill.
Through four months of 2012, revenue from church giving to CMF totalled $1,068,831. This was $64,503 or 5.7% less than budget but $79,049 or 7.4% more than April 2011. The increase over the prior year is due, in part, to the slow start some of our churches experienced in the early part of 2011 with the roll out of the new remittance system.
Total expenses after four months were $1,010,479. This was $85,289 or 7.8% less than budget and $50,696 or 5% less than April 2011. 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 four months ending April 30, 2012 with comparative information for 2011 and 2010. We have updated information for 2011, and 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 four months of 2012, a total of $5,636,935 has been received against a budget of $20,045,551 or a paid ratio of 28%. For the three apportioned funds; Connectional Ministries, World Service and General Church, a total of $1,867,137 was received or 27% of the budget. A total of $3,531,853 or 29% was received for all billed funds relating to pension, health insurance, property & liability and workers compensation. Giving is up over the prior year but less than the 33% required to be “on budget”. 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.
Audit Financial Statements
The 2011 audited financial statements for the following eight organizations have been completed and are posted on the Conference web site. The Mid Atlantic United Methodist Foundation audit will be posted upon completion. If you have any questions, please contact Peter T. DiNofia, EPA Conference Treasurer.