CHICAGO (ELCA) -- Two-thirds of its way through its 1998 budget year, the Evangelical Lutheran Church in America (ELCA) is experiencing positive cash flow, thanks in large part to a $2 million increase in giving from = the church's 11,000 congregations over the same period the previous year.
"The church is doing well," said Richard L. McAuliffe, ELCA Treasurer, in his regular report Nov. 13 to the ELCA Church Council. He added quickly a note of caution: "There will probably be a rainstorm."
The Church Council is the ELCA's board of directors and serves as the legislative authority of the church between meetings of the ELCA's Churchwide Assembly. The council is meeting here Nov. 13-16. Assemblies are held every other year; the next is August 16-22 in Denver.
"Operating results for the eight month period ended September 30, 1998, for the ELCA churchwide organization's budgeted operations compared favorably with the same period a year ago and with revenue forecast and expense budget," said the treasurer's report to the council. "Non-budgeted=
costs incurred in refinancing and reducing the mortgage loan on the
headquarter's building were also realized."
"Income from congregations through synods in the form of mission support totaled $41,136,000 compared with $39,105,000 the previous year, = an increase of $2,031,000. Total revenue for the eight months of $50,289,000 increased $3,062,000 from the same period one year ago. Operating = expenses related to these funds totaled $49,752,000, an increase of $683,000. The resulting surplus of $537,000 for the period before the refinancing expenses compares with a deficit of $1,842,000 experienced in 1997. = Timing differences in expenses relative to budget were a major factor in actual expenses being favorable to budget by over $4,000,000. It is anticipated that total expenses for the fiscal year ended January 31, 1999, will be considerably closer to budget," said the ELCA treasurer's report.
For information contact:
Frank Imhoff, Assoc. Director (773) 380-2955 or NEWS@ELCA.ORG
http://www.elca.org/co/news/current.html
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About the Evangelical Lutheran Church in America:
The ELCA is one of the largest Christian denominations in the United States, with 2.8 million members in more than 8,500 worshiping communities across the 50 states and in the Caribbean region. Known as the church of "God's work. Our hands.," the ELCA emphasizes the saving grace of God through faith in Jesus Christ, unity among Christians and service in the world. The ELCA's roots are in the writings of the German church reformer Martin Luther.
For information contact:
Candice Hill Buchbinder
Public Relations Manager
Candice.HillBuchbinder@ELCA.org
