Summary

Line No. Description GC Adopted Budget Triennium 16–18 2016–2018 Revision October 2017 Executive Council Draft 01/24/2018 PB&F Proposed Budget Special Comments for 2019–2021 (Base salary increases 3% pa; medical cost increases 9% pa; salary increases may include COLA and performance-based changes)
1 INCOME
2
3 Diocesan Commitments 75,606,206 79,167,811 89,535,740 88,855,970 Full participation at 15%; annual operating income growth at 1/2%; assessment exemption at $140K annually
4 Diocesan expected waivers (5,931,640) (5,450,120) Available for full or partial waivers for up to 20 of 109 dioceses not contributing at 15% annually
5 Income from Unrestricted Assets for General budget 28,232,258 30,374,297 31,756,346 31,756,346 Annual investment return assumed at 7.5% in 2018 and 2019. Reducing dividend draw from 5.0% [4.85%, 4.70%,4.50%] reduces income by $1.9 million
6 Income from Outside trusts where DFMS is beneficiary 675,000 675,000 Income from non-DFMS trusts; previously included in line 3 above
7 Economic Justice Loan income 525,000 675,000 Income from loans made to community development organizations
8 Economic Justice Loan income (additional) 150,000 Included in line 7 above
9 Annual Appeal Campaign 1,000,000 1,000,000 Expected income growing annually from $250K to $400K during the triennium
10 Income from Unrestricted Assets to support the Development Office 1,100,000 1,100,001 This $1.1 million raised the trust fund draw by 0.1%. Cannot sustain extra draws from trust funds
11 Short-term reserves for Racial Reconciliation 2,000,000 997,563 1,000,000 1,000,000 Reserve levels are critically low. Because the work did not begin until mid-2017, the entire $2 mil will not be spent during 2016-2018
12 Unrestricted reserves for additional Evangelism initatives 2,823,226 2,824,000 This $2.8 million raised the trust fund draw by approximately 0.6%. Cannot sustain extra draws from trust funds. Increases in this work could be funded from outside fundraising
13 Unrestricted reserves for committees established by Executive Council late in 2015 155,000 e.g., Impairment, HBCU Task Group
14 Rental Base Income (incl CUAC, ERD, NAES) 9,999,607 7,519,827 10,225,346 9,837,897 Reflects best estimates at 06012018; assumes rental of 5 1/2 floors + former bookstore (currently vacant) at 815 2nd Avenue
15 Program and Event Related Fees:
16 General Convention Income 1,252,530 1,253,000 1,352,530 1,352,530 Offsets costs at line 539
17 Multimedia Services Income 189,417 Base churchwide work currently precludes additional work
18 Episcopal Digital Network Income 333,900 331,772 600,000 600,000 "Sponsorship" income
19 Episcopal Migration Min N-G Income 339,083 32,620 Program was closed in 2016
20 College for Bishops Reimbursement Income 298,855 138,599 Two CfB employees no longer paid through Pastoral Development budget
21 Refugee Loan Collection Income 2,164,000 2,898,988 1,968,535 1,968,535 See cost in line 89
22 Mission Technology Income 133,560 125,934 133,560 133,560 Charges to affiliates and tenants
23 ECF Reimbursement for Services 122,505 Agency no longer resident
24 NAES Reimbursement for Services 131,877 This contracted tenant now appears in rental income
25 Facilities Management Income 356,160 327,334 360,000 360,000 Tenant reimbursements (e.g., utilities)
26 Total Program and Event Fees 5,321,887 5,108,247 4,414,625 4,414,625 Sum of lines 15-25
27
28 Other Income 581,226 Fees for program event costs; not predictable
29 House of Bishops reimbursements 199,000 300,000 300,000 Diocesan shared costs of HOB meetings; previously included in line 189
30 Episcopal Youth Event fees 367,386 367,000 400,000 Fee revenue for EYE event; previously included in net costs line 361
31 General Board of Exam. Chaplains 395,000 395,000 Fee income for General Ordination exams
32 TOTAL INCOME 125,083,184 128,394,358 133,717,418 133,859,718
Line no. Description GC Adopted Budget Triennium 16–18 2016–2018 Revision October 2017 Executive Council Draft 01/24/2018 PB&F Proposed Budget Special Comments for 2019–2021 (Base salary increases 3% pa; medical cost increases 9% pa; salary increases may include COLA and performance-based changes)
34 JESUS MOVEMENT
35-65 Evangelism 5,973,226 6,750,800 5,341,773 5,241,773 PB Office, Communications, Dir of Mission were previously included here
66-162 Reconciliation & Justice 9,464,925 9,358,064 9,351,058 10,399,058
163-174 Creation Care 650,000 611,200 865,374 1,000,000
175-218 PB Office 8,578,825 12,272,218 12,886,051 13,006,051 Now includes Pastoral Care, Federal Ministries, Title IV investigation and trial
219-410 Mission Within the Episcopal Church 28,312,349 27,307,589 28,270,896 27,910,385
411-511 Mission Beyond the Episcopal Church 17,352,523 17,213,491 16,991,197 17,235,197 Increases to Cuba should await GC
512- Governance 13,848,606 15,227,064 18,784,444 18,775,648 Now includes provision for Pres House of Deputies compensation; PHOD chancellor; and transfer of Research Office
568-611 Finance and Development 19,238,642 18,790,040 19,320,520 19,320,520 Treasury, Controller, Development, Legal (including Ttitle IV legal staff), Buildling Services, HR and IT
612-623 Legal 3,564,977 3,621,800 3,619,789 3,619,789
624-695 Operations (HR, IT, Facilities, Purchasing) 16,655,121 16,865,925 17,411,662 17,411,662
696a Adjustments to balance budget (500,000) 60,500
700 Undetermined GC2018 Resolutions (e.g., Prayer Book Revisions) 1,225,000
702 TOTAL EXPENSES 123,139,194 128,018,191 134,367,764 133,859,584
703
704 SURPLUS/(DEFICIT) 1,943,990 376,167 2,654 135
705
706
707 Episcopal Migration Ministries
708 Total Income 51,813,700 60,511,458 Program is designed to break even. Actual amounts may change due to current shifts in US Govt immimgration policy
709 Staff Costs 7,325,083 5,185,601 TBD
710 Non-staff Costs 44,488,617 55,325,857 TBD
711 Total EMM (Government)