June 2012 Financial Update

Conference Budget
Please reference Schedule A and Schedule B for a summary of the conference budget for June 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 six months of 2012, revenue from church giving to CMF totalled $1,614,541. This was $85,459 or 5% less than budget. Giving for CMF was about the same as the total of $1,620,366, received through June 2011. 

Total expenses after six months were $1,571,648. This was $40,510 or 3% less than budget and $118,229 or 7% less than the June 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 six months ending June 30, 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 six months of 2012, a total of $8,585,398 has been received against a budget of $19,970,071 or a paid ratio of 43%. For the three apportioned funds; Connectional Ministries, World Service and General Church, a total of $2,820,551 was received or 40% of the budget. A total of $5,411,571 or 44% was received for all billed funds relating to pension, health insurance, property & liability and workers compensation. Giving of 43% of the budget, through six months, is about the same as the prior year total of 42%. 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.