The Daily Lutheran is the newsletter of the 9th Churchwide Assembly. It’s published by the staff of The Lutheran, the magazine of the ELCA. Editor: Sonia C. Solomonson. Writers: Elizabeth Hunter, Kathleen Kastilahn, Julie B. Sevig and Ann Hafften. Photographer: Michael D. Watson. Production editor: Andrea S. Pohlmann. Web production: Amber Leberman.
The ELCA must keep up its efforts to grow revenue and identify new opportunities for cutting costs, Treasurer Christina Jackson-Skelton told the assembly Wednesday. For the first five months of fiscal 2005, revenue available to cover the budget is down half a million dollars compared to the year before.
• Revenue available for current operations is up from $80.8 million in 2003 to $81.3 million in 2004.
• Operating expenses at approximately $76.8 million in 2004 are down $3.5 million from 2003.
• Revenue surplus was $.5 million in 2003 and $4.5 million in 2004. Net revenue builds cash reserves and provides flexibility for new mission opportunities and unanticipated needs.
• No funds were designated by the Church Council for specific purposes in 2004. In April 2005 Presiding Bishop Mark S. Hanson was able to designate $4.5 million for: leadership development, $2,6 million; introduction of new worship resources, $900,000; new congregation development and renewal, $500,000; and ministry among people in poverty, $400,000.
© 2015 Augsburg Fortress, Publishers