ELCA NEWS SERVICE
October 24, 2006
ELCA Bishops Told Early 2006 Financial Results 'Favorable'
06-156-JB
CHICAGO (ELCA) -- Overall financial results for the
churchwide organization of the Evangelical Lutheran Church in
America (ELCA) were "favorable" for the first seven months of the
church's 2006 fiscal year through Aug. 31. Based on those
results, the churchwide organization is expected to close the
current fiscal year on Jan. 31, 2007, "with positive net
results," said Christina Jackson-Skelton, ELCA treasurer.
Jackson-Skelton reported the most recent financial results
to the ELCA Conference of Bishops. The conference is an advisory
body of the church, consisting of the ELCA's 65 synod bishops,
presiding bishop and secretary. It met here October 5-10.
Overall, financial results thus far in 2006 are very close
to what the churchwide organization expected, Jackson-Skelton
said.
Total receipts were $43.9 million from Feb. 1 to Aug. 31,
compared with $45.1 million the previous year, a decrease of $1.2
million. Related expenses were $43.4 million, a decrease of
$600,000 from one year ago. Expenses were below the 2006 budget
forecast for the period by $3.3 million, the ELCA treasurer said
in her written report.
Mission support funds contributed by congregations through
the 65 ELCA synods totaled $35.6 million, down $200,000 or less
than 0.7 percent from one year earlier. Other funds available
for budgeted operations of the church were $8.3 million, compared
with $9.3 million in the first seven months of 2005, Jackson-
Skelton wrote.
She reported that income from investments increased
$900,000, while income from bequests and trusts decreased $1.9
million for the period.
Investment income performance is "markedly improved" from
the past several years, and Jackson-Skelton said it is expected
to continue to outperform budget estimates for the remainder of
the year.
ELCA World Hunger Appeal contributions through Aug. 31 were
$7.5 million, up $300,000 compared to one year ago. Jackson-
Skelton noted that the increase can be attributed to a special
offering at the ELCA Youth Gathering given for hunger programs.
Direct gifts to the World Hunger Appeal increased by
$900,000 for the first seven months of fiscal 2006 compared to
one year earlier, while gifts given through synods decreased by
$400,000, she added.
For information contact:
John Brooks, Director (773) 380-2958 or [log in to unmask]
http://www.elca.org/news
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