November 2012 Financial Update

Conference Budget
Please reference Schedule A and Schedule B for a summary of the conference budget for November 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 eleven months of 2012, revenue from church giving to CMF totalled $2,968,935 This was $147,732 or 5% less than budget, and $80,956, or 3% less than the November 2011 total. The amount churches paid to CMF for the month of November was $270,364 and this was $3,832 less than the amount churches paid in November 2011. To reach the 2012 budget goal of $3.4 million, $431,065 is needed in December. In 2011, a total of $479,870 was paid by local churches toward CMF in December.

Total expenses after eleven months were $2,716.569. This was $135,173 or 5% less than budget and $459,462 or 14% less than the November 2011 total. Schedule B provides details of cost center budgets.

Church Giving – All Funds
Please reference Schedule C for a summary of church giving for all funds for the ten months ending November 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 eleven months of 2012, a total of $15,966,313 has been received or 80% of the budget. For the three apportioned funds; Connectional Ministries, World Service and General Church, a total of $5,179,791 was received or 74% of the budget. A total of $10,138,772 or 83% of budget was received for all billed funds relating to pension, health insurance, property & liability and workers compensation. Giving of 80% of the budget, through eleven months, is one point higher than the paid ratio of 79% at November 2011. 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.