Connecticut Conference of the UCC 2014 Budget Hearings Charlie Kuchenbrod Finance & Development Team...
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Transcript of Connecticut Conference of the UCC 2014 Budget Hearings Charlie Kuchenbrod Finance & Development Team...
Connecticut Conference of the UCC
2014 Budget HearingsCharlie Kuchenbrod
Finance & Development Team Leader
Our Shared Vision“That they may all be one”
Community
Inter-dependence
Testimonies
Vision
Leadership
Vitality
Engaging Worship
The budget is the financial
representation of our
aspirations
Connecticut Conference
Missionary Society of Connecticut (MSC)Conference operations
Silver LakeConsolidated Trust Fund
Trustees of the Fund for Ministers (TFM)
Endowments supporting the general welfare of the
ministry
Asset ClassificationDetermined by Donors!
Restricted• Duration – Endowments• Purpose
Unrestricted• Board-Designated – Functioning as Endowment• Board-Designated – Reserve Funds• Equity in Property and Equipment• Undesignated
Conference Assets 12/31/13
MSC TFM Total$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$40,000,000
Restricted Quasi-Endowments Property Other
Conference Assets
2007 2008 2009 2010 2011 2012 2013$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$40,000,000
MSC TFM Total
Market Crash
Board-Designated Reserve Funds
2005 2013Pre-paid fees $6,677 $20,602Smoothing accounts $43,422 $67,878Savings accounts $40,000 $211,379Silver Lake - $61,946Other $14,113 $220,215Total $104,212 $582,020
Audited Financial Statements
•www.ctucc.org/reports/2013• Introduction with links•Other reports for 2013 also
found here!
Revenue Trends 2008 – 2013
OCWM
Basic S
upport
Per Cap
ita Contri
butions
Investm
ent Inco
me$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
20082013
Thank You!!!
CTUCC Mission & Ministry
Per Capita Contributions
OCWM Basic Support
Friends of the
Conference
Budget Balancing “Levers”
• Lever 1: Reduce expenses• Lever 2: Raise Per Capita Rate• Lever 3: Increase Retention Rate• Lever 4: Use assets to support spending
Lever 1: Reduce Expenses
• Most discretionary non-staffing expenses have been sharply cut or eliminated over past 12 years.
• Recent Staffing reductions:– 2013 Regional Minister– 2014 Generosity Ministries
Lever 2: Increase Per Capita Rate
19951996
19971998
19992000
20012002
20032004
20052006
20072008
20092010
20112012
20132014
2015$0
$1
$2
$3
$4
$5
$6
$7
$8
$9
Lever 3: Increase Retention Rate(OCWM Basic Support retained in CT)
• 1980-86 = 25%• 1987-94 = 35% (Per Capita eliminated)• 1995-2012 = 37% (Per Capita restored)• 2013-15 = 50%
Lever 4: Use Assets to Support Spending
• Transition era – used “rainy day funds”• 2014 – Silver Lake supplemental capital
budget
MSC 2015 General Fund Revenue Change Forecast
• Basic Support down 5% ($36,284)• Endowment Income up 3% $24,317• Per Capita Contributions -• Friends of the Conference -• Reclassify New American Fund $33,876• Pastoral Excellence Program (fee) $20,000• Other Fee Income $3,371
• Total $45,280
MSC 2015 General Fund Expense Change Forecast
• Mission($1,849)
• Program$62,381
• Support$13,663
• Staffing($9,209)
• Total$46,202
Program Choices +$62,381
• Leadership & Cong’l Vitality $20,000• Pastoral Excellence (fee)
$20,000• SCRM increase
$18,784
• Total Sacred Conversation on Race Ministry (SCRM) funding $55,000
Staffing Choices ($9,209)
• Trade Clergy Concerns for Leadership Transitions
• Trade Generosity Ministries for Leadership & Congregational Vitality
• Continue Youth & Young Adult Ministry Support
• Other adjustments for new responsibilities• COLA and benefit expense increases
Generic BudgetBudget Unrestricted Restricted
Revenue $X,XXX,XXX $R,RRR,RRR
Expense ($Y,YYY,YYY) ($R,RRR,RRR)
Preliminary Result $ZZ,ZZZ $0
Transfer to Reserve Funds ($ZZ,ZZZ) NA
Transfer From Reserve Funds - NA
General Fund Surplus/Deficit $0 $0
Board- Designated Funds Surplus/Deficit $0
Non-Operating Activity Surplus/Deficit NA
MSC (w/SLCC) 2013 Resultsincludes Now For The Future activity
Audited Results Unrestricted Restricted
Revenue $3,135,620 $1,528,495
Expense ($3,039,268) ($1,753,520)
Preliminary Result $96,351 ($225,025)
Transfer to Reserve Funds ($43,189) NA
Transfer From Reserve Funds - NA
General Fund Surplus/Deficit $53,162
Board-Designated Funds Surplus/Deficit ($118,305)
Non-Operating Activity Surplus/Deficit $2,271,222
MSC (w/o SLCC) 2015 Budgetexcludes Now For The Future activity
Budget Unrestricted Restricted
Revenue $2,196,367 $1,288,437
Expense ($2,187,290) ($1,288,437)
Preliminary Result $9,078 $0
Transfer to Reserve Funds ($43,874) NA
Transfer From Reserve Funds $34,784 NA
General Fund Surplus/Deficit $0
Board- Designated Funds Surplus/Deficit ($94,386)
Non-Operating Activity Surplus/Deficit $0
Transfer to Reserve Funds
• Reminder – Reserve Funds are unrestricted assets designated by the Board for specific purposes.
• 2015 Budget Allocations:– Interim Staffing
$5,000– Recruitment and Relocation $12,000– Synod Delegates
$8,000– SCRM
$18,784
Transfer from Reserve Funds
• Pulling the “Use assets to support spending lever”
• Utilizing $34,707 of Staffing Fund– This is a “savings account”– Balance will be reduced from $250,302 to
$215,595
Sacred Conversation on Race Ministry
• 2013 = $25,000• 2014 = $35,000• 2015 = $55,000• Total = $115,000
Support for Silver Lake
• Silver Lake generates revenue – user fees• Conference Support:– Operating support (unrestricted revenue) -
$129,807– Supplemental Capital Budget (unrestricted assets)
- $100,000
For the Trustees of the Fund for Ministers98% of revenue is due to investment income and markets are up.
Board Recommendations
MSC TFMUnrestricted – General Fund
$2,187,290 $297,825
Restricted $1,288,437 $220,042Total $3,475,727 $517,867
New Patterns of Giving
• Planned Giving/Bequests• Affectional Giving• Fundraising for specific projects• Grants