Latest financial report shows increase
Overall receipts for WELS operating budget in July 2007 showed a marked increase over the previous July, but the synod's chief financial officer is urging caution in projecting the increase beyond the current month.
Receipts for July 2007 of $5.5 million were $3.9 million greater than July 2006, but the increase reflects receipt of the first annual installment from an anonymous WELS member who is donating $2.55 million a year for the next five years to the synod's operating budget. Changes in foreign exchange rates have added another $225,000 to the value of the installment.
July 2007 Congregation Mission Offerings (CMO) were up $550,000 over the previous July. As recently as June, receipts were 1.9 percent less than 2006. The upturn in July appears to reflect the efforts of the Conference of Presidents to increase CMO prior to the synod convention, held July 30-Aug. 3.
From January through July, CMO receipts were up 3.6 percent over the prior year--a 3 percent increase was forecast. "I give thanks to God for the support his people provided in July, but strongly caution those using July results to project support for the other 11 months of the fiscal year," says Todd Poppe, WELS' chief financial officer. "Even in my short service to the synod I have seen positive results quickly turn around."
To view WELS' latest financial report, visit www.wels.net/jump/financialreport.
