Today's online meeting of the Executive Board focused on preparation of an updated 2021 budget and a Special Convention to adopt the budget, which will be held online Saturday, April 24.
The Budget Working Group of the Board met and continued work on the revised budget with a discussion of the revised pledge income forecast. With 86% of parishes now reporting a pledge to the Diocese, pledge income is forecast to be higher than was anticipated at the November Convention, when approximately 15% of the parishes had reported a pledge. The Working Group is considering input from the October 31 open hearing on the budget, the November Convention, and responses to a subsequent survey of delegates. The group will meet for at least two more working sessions prior to the Executive Board meeting on March 18. The proposed budget and supporting documents, including a narrative budget, will be posted on the diocesan website and distributed to delegates no later than March 22. An Open Hearing on Budget for Convention delegates will be held on April 17, one week prior to the Special Convention.
The Executive Board also adopted a Cafeteria/Section 125 plan for the diocesan payroll. This important compliance mechanism enables an employer to designate an employee's contribution to a benefit premium as a pre-tax item. The Diocese recommends that congregations adopt this plan where applicable and offers a plan template to congregations free of charge. If wardens and treasurers have questions about the applicability of this plan to a congregation, they should contact diocesan Treasurer Ted Smith.
The Executive Board will meet again on Thursday, March 18 via Zoom. The Board will regularly inform the people of the Diocese about their work regarding the 2021 budget and about the design of 2022 budget process, which is already underway. If you have questions or comments, please contact the Executive Board.