Positive synod financial trends continue
Filed Under: Budget, CMO, Finance
WELS' financial indicators continue to trend positive, in particular Congregation Mission Offerings (CMO)—the offerings congregations commit to the synod's collective ministry—and gifts from individuals. "Based on the facts, it's obvious God is blessing the synod financially," says Mr. Todd Poppe, WELS chief financial officer.
CMO for December 2007 was up more than $250,000 or 7.1 percent over the same month in 2006—the sixth straight comparative monthly increase. For the 12-month period ending Dec. 31, 2007, CMO is up six percent over the previous year.
The synod received gifts for its operating budget of more than $500,000 in December—to date, for fiscal year 2007-08 such gifts are $900,000 greater than the prior year and are trending higher than the budget and the forecast.
Poppe says the results mean the synod is in "excellent financial condition," at least through the first half of fiscal year 2007-08, and on track to exceed the $1 million budget surplus forecast in October. Any surplus will be used to re-establish a buffer fund to offset any unanticipated future support shortfalls.
Poppe cautions that if the synod is to remain fiscally healthy and if it is to meet the ministry funding levels approved for next year by the 2007 convention, gifts from congregations and individuals must continue to show strong growth.
View a full summary of the CFO's report online: www.wels.net/jump/finance
