May 2012 Financial Update

Conference Budget
Please reference Schedule A and Schedule B for a summary of the conference budget for May 2012.
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 five months of 2012, revenue from church giving to CMF totalled $1,362, 874. This was $53,793 or 4% less than budget but $91,817 or 7% more than May 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 five months were $1,299,052. This was $55,595 or 4% less than budget and $90,992 or 6% less than May 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 five months ending May 31, 2012 with comparative information for 2011 and 2010. For the full year 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 five months of 2012, a total of $7,200,010 has been received against a budget of $20,002,526 or a paid ratio of 32%. For the three apportioned funds; Connectional Ministries, World Service and General Church, a total of $2,383,013 was received or 34% of the budget. A total of $4,517,600 or 37% was received for all billed funds relating to pension, health insurance, property & liability and workers compensation. Giving at a rate of 36% of budget through May is 4 percentage points more than the total at May 2011 but 6 percentage points less than the 42% 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.