The Episcopal Church’s Executive Council came face to face with the realities of the 2019-21 triennial budget during its fall meeting and pledged to share the burden of eventually bringing a balanced budget to 2018 meeting of General Convention.
There is an $8 million deficit in the current “working draft” of a budget which will eventually need the approval of the 2018 meeting of General Convention, the Rev. Mally Lloyd, a member of council’s Joint Standing Committee on Finances for Mission told the council. The gap between anticipated revenue and the spending asked for by the churchwide staff and council’s joint standing committees stood at just more than $12 million when FFM began its work at this meeting.
The gap comes even as anticipated income is nearly $3.7 million higher than that expected the 2016-18 triennial budget. Major sources of income include dioceses, an investment income draw, income from renting out space in the Church Center in Manhattan and a planned “annual appeal” beginning in 2018.
More here-
http://episcopaldigitalnetwork.com/ens/2017/10/21/executive-council-ponders-debates-next-triennial-general-convention-budget/
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