December 2012 Financial Update

December Financial UpdateThere is good news to report related to the 2012 financial results.  Please note that the results are not final until all of the audits are completed. Our plans for the 2012 year remain the same, that is, to complete all audits by May 1, 2013. We will post the results on the conference web site. 

Conference Budget
Please reference Schedule A and Schedule B for a summary of the conference budget for December 2012. 

As a result of the faithful giving of EPA local churches to the connectional ministries fund or CMF we ended the year surpassing the $3,400,000 budget. Total receipts were $3,401,619 and December 2012 was another outstanding month with receipts totaling $432,684.  Thanks to all of the congregations who continue to support this ministry. 

More good news…. The conference expense budget was managed very effectively throughout the year by all committee, boards, agencies and others. Total expenses were $2,906,875, 5% or $143,261 less than the 2012 budget of $3,050,136, and 13% or $430,814 less than 2011 expenses.

In summary, the 2012 conference budget produced a surplus of $494,744 that will be directed to The Pre-82 Pension Liability and the Conference Reserves, according to Resolution 2012-21.  An amount of $202,083 will go to the Pre-82 Pension and $292,661 to the Conference Reserves.  Beginning in 2013, surplus will be directed only to the Pre-82 Pension Liability because the conference reserve requirement of $650,000 has been met.

Please reference Schedule E for a three year summary of the giving for World Service and General Church funds by EPA churches. Congregations in EPA gave $2,508,045 in 2012 or 96.5% of the amount requested by the General Council on Finance and Administration (GCFA).  This is the highest percentage in the past three years and reflects the strong commitment of EPA to local and global ministries. Thank you for supporting these ministries.  EPA is truly “making a difference” in so many lives, here in Pennsylvania, and around the world.

Church Giving – All Funds
Please reference Schedule C for a summary of church giving for all funds for the past three years.  Giving has remained constant at 90% during this period.  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 December 2012, a total of $17,983,387 has been received or 90% of the budget.

A total of 269 churches or 62% of the total number of churches paid all funds 100%. An additional 88 churches paid 75% or more.  These churches number 357 and represent 82% of the total number of churches in EPA. The total received from this group was $16,630,446 or 92% of the total received.  Please reference Schedule D for details. 

Finally, I thank you for your faithfulness and support during these difficult economic times. I know that there are increased pressures at the local church level associated with increased costs and in some case, declining worship attendance. I pray that God will continue to bless the EPA Conference and all of our churches, and that through Him; we will work together in an effective way to fulfill the mission of making disciples of Jesus Christ for the transformation of the world.