Support for synod operating budget remains strong
Filed Under: Budget, CMO, Finance, Offering, Synod Finances
February's financial figures show support for the synod's operating budget remains strong. Through the first eight months of the 2007-08 fiscal year, support of $24.6 million exceeded expenses of $22.1 million by $2.5 million. The budget appears on track for a $2.2 million dollar surplus at year's end. Any surplus would be used to create a buffer fund to offset any future budget shortfalls.
The optimism in the budget numbers is driven by increases in Congregation Mission Offerings (CMO)—gifts congregations submit for the synod's collective ministry. For the first eight months of the 2007-08 fiscal year, CMO is up $1.8 million or 13.2 percent over the same period in the prior year. For calendar year 2008, CMO support is up $435,000, or 18.7 percent over the first two months of 2007—thanks in large part to a special one-time gift from a congregation of $200,000.
"We continue to give thanks and all praise, honor, and glory to God for leading his people to support the work of his church," says Mr. Todd Poppe, WELS chief financial officer. "We pray that God's people will continue to be encouraged, by their love for Christ, to support the ministries of WELS."
To review the complete Executive Summary of WELS Operating Fund, prepared for members of the Conference of Presidents and the Synodical Council, go to: www.wels.net/jump/finance
