A228 HB Committee #21 Report #03
House of Bishops Committee (2018-2022) 21 - Joint Standing Committee on Program, Budget and Finance presents its Report #03 on Resolution A228 (Proposed 2023-2024 Budget) and moves:
Resolved, the House of Bishops concurring,
That the 80th General Convention adopt the 2023-2024 budget for The Episcopal Church, as presented by the Joint Standing Committee on Program, Budget and Finance, at total income of $100,493,452 and total expenditures of $100,493,452; and be it further,
Resolved, That the assessment formula (Canon I.4.6(b)) for the period January 1, 2023 through December 31, 2024 is adopted based on a single assessment of each diocese. In each year, 2023 and 2024, the diocesan total adjusted operating income, as reported in the annual diocesan financial report (Canon I.4.6(j) and Canon I.6.4) for the year two years prior to the year to which the assessment is applied [e.g., 2023 assessments are to be based on 2021 actual income figures], shall be reduced by a $200,000 exemption. A single assessment shall be applied to the remaining amount (balance) at a flat rate of 15%; and be it further,
Resolved, That the 2023-2024 Episcopal Church budget shall be adjusted and managed as set forth in the Canons, Rules of Order, and Executive Council policies and procedures.