By Leslie Scanlon, The Presbyterian Outlook.
The finance and audit committees of the Presbyterian Mission Agency Board met by conference call Aug. 14, in part to hear year-to-date financial reports and plan for the board’s meeting in Louisville Sept. 23-25.
After a closed session, the Finance Committee reported that it had approved advancing $120,000 from the capital reserve budget for emergency roof replacements at the Stony Point Center in Stony Point, New York. The money is to be repaid over 10 years, and the proposal also will go to the Presbyterian Mission Agency Board in September for its consideration.
Among other points of discussion:
Reserves. Board members continue to be concerned about the low levels of the Presbyterian Church (USA)’s unrestricted reserve funds – funds which are expected to run dry by the end of 2016, if not sooner. At the end of June, the PCUSA’s unrestricted reserves stood just over $6 million – about $936,000 above the required minimum of 30 percent of the unified portion of the General Assembly Mission Budget. That required minimum stood at $5.14 million as of June 30.
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There is no original reporting here, and this document has been posted on a number of different sites.
The central take away from an organizational perspective is that the PMA/PCUSA is still writing and cutting checks on the “assumption” of other folks ready and willing to pay, the money simply is not there. Further that the various legal/lawsuit entanglements arising out of the “1001” fiasco are simply not important.
Clueless bureaucratic functionaries meeting with other clueless functionaries in their own echo chamber. No news here.
“expenses included nearly $828,000 in legal fees related to the 1001 New Worshiping Communities investigation.”
All this over $100,000 that was never spent, and they wonder why with decisions like this, why they are in trouble. They still have two lawsuits pending over this, it’s very plain to me that we have people running the PMAB with little business sense or the vision that is required to take the pcusa into the future.
“Clueless bureaucratic functionaries meeting with other clueless functionaries in their own echo chamber.” – @ Peter, you are talking about the Pres Lay Committee – right?
I take back the vision part, they do have one, and it looks Bruce/Caitlyn Jenner
Pres-person-redux Gregory’s got it right, The Lay Committee represents those of us who pay all the bills and you represent dead peoples money and the trust clause.