Episcopal Church facing dwindling revenue

Mary Frances Schjonberg writing for Episcopal Life Online:

Income during the 2010-2012 triennium could be $9 million less than forecast last January, when a draft churchwide budget was approved, according to the chair of the Episcopal Church’s budgetary committee.

Pan Adams-McCaslin, chair of the Joint Standing Committee on Program, Budget and Finance (PB&F), said in a June 24 interview that diocesan commitments during the next three years could be an estimated $7.7 million less and interest on the church’s endowment funds is projected to be $1.3 million less. …

PB&F’s concern about reduced revenue projections is coupled with the knowledge that some of the pre-filed General Convention resolutions call for what Adams-McCaslin characterized as “several million dollars” in proposed new programs and initiatives.

In addition, Adams-McCaslin pointed out, there are certain expenses (known as the corporate and canonical side of the budget) that have to be funded, such as the offices of the Presiding Bishop and House of Deputies president and the General Convention office, which aids the church’s committees, commissions, agencies and boards in carrying out the convention’s mandates during the triennium.

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