Synod Finance Reports

Topics

• 2011 Audit Report

• Treasurer’s report for 2011

• Recommended Budget for 2013

2011 Audit Report

• The 2011 Audit report finds no deficiencies in synod financial procedures

• The form of the audit report differs from that used in the income/expense statement as it is “unitary” instead of an operating budget

• The Synod Counil recommends approval by the Synod Assembly

Report for 2011

• We are dealing with a $490k (30%) decline in Mission Support since 2008– $340k is due to economic conditions– $150k is due to churches leaving

synod or withholding support (two additional churches have departed)

• We’d like to show how the synod finances have evolved over the last seven years

Mission Support

Income

Payroll

Synod Supported Staff

Liability and Equity

Grants

Introduction to the 2013 Budget

• This budget contains minor changes from the 2012 Budget–We recognize that Mission Support from

congregations will be likely be tight until the economy improves and would like to thank the churches for the support that they have provided in this difficult time

• Mission Support to Churchwide has been raised to 50% of Congregational Mission Support.

Expected Income

Mission Support$1061k

Deployed &Managed Staff$276k

Interest$45k

Disbursements$195k

Expenses

Mission Support toChurchwide$531k

Payroll & Staff Expenses$677k

Administration,Council &Committees$192k

Deployed Staff &Managed Payroll$276k

Grants$126k

Mission Teams$49k

The Bottom Line

• For 2013, we expect a net loss of $224k, which will be drawn from reserve accounts.

• You should note that what you are approving is a maximum on expenditures – If income falls below projected figures, we will

institute a spending plan with smaller expenditures