A295 Adopt the Budget for The Episcopal Church

Original version

Resolved, the House of _______ concurring, That the 79th General Convention adopt the 2019-2021 budget for the Episcopal Church, as presented by the Joint Standing Committee on Program, Budget and Finance.

The Budget for the Episcopal Church for the period January 1, 2019 through December 31, 2021, which shall be a unified budget for Program (mission), Governance and Administration, is adopted at a total of $133,859,718.

The Mission Program portion, providing for support for the mission and ministry (restricted and unrestricted) of the Church, is adopted at a total of $74,792,465.

The Mission Governance portion, providing for the contingent expenses of the General Convention, Executive Council, Interim Bodies, the expenses of the President of the House of Deputies, and Archives is adopted at a total of $18,775,648.

The Mission Finance, Legal and Operations, providing for administrative support of the Domestic & Foreign Missionary Society offices, is adopted at a total of $40,291,471.

The funding policy for the period January 1, 2019 through December 31, 2021 is adopted based on a single Asking of the dioceses. After a $140,000 exemption from total income, a single Asking shall be applied at a flat rate of 15%, in each year 2019, 2020 and 2021 of the balance of income to the diocese, reported in the diocesan financial statements for the year two years prior to the year to which the pledge is applied [e.g., 2019 Askings are to be based on 2017 actual income figures]. “Income” includes (1) all congregational giving to the diocese, (2) all unrestricted investment and endowment income to the diocese, (3) restricted investment and endowment income to the diocese which covers costs in the operating budget, and (4) other earnings from investments or enterprises. It is intended that income shall include revenues that fund normal operating and program expenses of the dioceses. It is not intended to include pass-through income that is used for expenses for programming that are simply administered by the dioceses, or that would not be otherwise funded by contributions from parishes or out of investment income.

We rejoice with dioceses that have moved toward, and those that have given at and above the adopted rates during 2016-2018. Such giving creates a strong financial basis for vital mission and witness of the Episcopal Church. We encourage all our dioceses to adopt the Asking to the mission priorities which we have embraced in this 79th General Convention.

For the budgetary period net income from diocesan commitments, totaling $83,405,850 is anticipated.

For the budgetary period 2019-2021, payment by the dioceses of the Askings shall be made in twelve equal monthly payments.

All additional income, other than from the Askings of the dioceses, totaling $ 39,553,629 is projected.

A General Ordination fee is hereby authorized, which fees are expected to cover the expenses and administration of examinations for Holy Orders. A candidate for Holy Orders eligible for examination and so certified by the diocesan bishop shall not be disqualified for examination because the fee has not been paid.

General Convention registration and exhibitors fees are hereby authorized, which fees shall be added to the funding from dioceses and applied to the expenses of the 2021 General Convention, and for no other purpose.

In the exercise of their respective authorities, the Executive Council of the General Convention and the Joint Standing Committee on Program, Budget and Finance shall be subject to the following policies:

Each year, the Executive Council, with the advice of the Joint Standing Committee on Program, Budget and Finance, shall adjust the budget to the assured income of the Executive Council so as to carry out the Budget for the Episcopal Church for that year on a balanced budget basis.

The fiscal year shall begin January 1.

If in any year the total anticipated income for budget support is less than the amount required to support the budget approved by the General Convention, the canonical portion of the Budget for the Episcopal Church shall have funding priority over any other budget areas subject to any decreases necessary to maintain a balanced Budget.

Undesignated bequests and legacies received during the budgetary period shall be set aside in the general endowment fund of which only the income shall be used for the general purposes of the Society.

Designated bequests and legacies received during the budgetary period shall be set aside in specific funds of which only the income shall be used for the purposes so designated.

Each interim body proposing to the General Convention any resolution with funding implications shall present to the Standing Committee on Program, Budget and Finance a detailed budget in support of its plan(s), including cost estimates from contractors and suppliers for all goods and services, by no later than six months before the opening day of the General Convention.

An annual report of the actual income and expenditures of the DFMS, relating the expenditures to the Church’s priorities, shall be posted on the DFMS website when it is released.

An annual report of the trust fund balances with accompanying narratives shall be posted on the DFMS website when it is released.

Explanation

No explanation present


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