Office of Finance issues updated report on diocesan commitments
The Episcopal Church Office of Finance has issued a mid-year updated report on diocesan commitments.
N. Kurt Barnes, Treasurer and Chief Financial Officer, announced that all Episcopal dioceses located in the United States and nearly every non-United States diocese have committed to the 2014 budget of The Episcopal Church.
He indicated that
- 42 dioceses have committed to the full 19% asking level adopted by General Convention 2012.
- 39 dioceses are contributing between 10% and 19%.
- Commitments have been received from every diocese except one.
“The commitments from the dioceses for 2014 total $26.8 million,” Barnes said. “The revised budget assumed $25.8 million. We are especially thankful for those dioceses that are able to make commitments at the full 19% asking level established by a vote of the General Convention, and we appreciate those dioceses that are striving to increase their commitments each year.”
A complete list of diocesan commitments appears here
The 2014 revised budget adopted by Executive Council is here
Barnes also noted that trust funds, income from which accounts for 25% of the annual budget, continued their exceptional performance. “Annual returns after all fees and expenses were 15.2%, 16.5% and 7.2% for the one-, five- and 10-years ending March 31, 2014 – ranking within the top quartile of all foundations with assets over $50 million,” he said. “We invite any Episcopal entity to co-invest with the DFMS.”
Additional information appears here
The Episcopal Church: www.episcopalchurch.org