“We hope that no parish will take on debt that will overwhelm their ability to continue to do ministry,” is the hope of the Financial Advisory Committee (FAC), as an advisory committee to parishes, the Bishop and Synod Council.
FAC can provide parishes information on possible resources for getting grants to cover all or a portion of their projects.
The committee helped prepare the Diocesan budget and worked on the new Diocesan Mission and Ministries (DM&M) formula that is fair and equitable to all parishes.
“The new formula, if approved, will lower the annual assessment to smaller less affluent parishes and increasing the assessment to the larger more affluent parishes and will be revenue neutral to the Diocese,” predicted Chair George Henry.
A team of consultants began meeting with parish corporations who find it difficult to meet their financial obligations to the diocese. The goal is to find ways to reduce debt and provide resources to develop ongoing funding.
“It will take time to assess the program’s success but it is planned to expand the program as we watch those parishes that have already been invited to participate,” George wrote.
(Editor’s Note: The new formula for DM&M was approved at the November 2017 Synod.)
The Reverend Deacon George Henry is Chair of the Financial Advisory Committee.