1. View or download presentation at www.nyac.com/conference-budgets

2.  2015 Proposed Budget Highlights  Shared Ministry Apportionments  Basics  Calculation  Adjustments  Where does the money go? 2 View or download presentation at www.nyac.com/conference-budgets

3. A.Shared Ministry Apportionments: $7,994,407 (3.5% decrease vs. 2014B) Allocation of operating budget in seven key areas: 1.Clergy Support 2.Administration 3.World Service & Conf Benevolences 4.Africa University B.Shared Ministry Apportionments Budget consists of: Income I. Clergy Support II. Administration III. World Service & Conf. Benevolences IV. Other Apportioned Causes See Proposed 2015 Conference Budget Guide for details 3 5.Ministerial Education 6.Missional Priority 7.Black College Fund View or download presentation at www.nyac.com/conference-budgets

4. Income: Registration Fees, Trust Income, Donations I. Clergy Support: District Superintendent expenses, Retiree Medical benefits net of CBOPHB Contribution, Episcopal Fund*, Clergy Support (vocational change assistance, salary adjustment, move costs, emergency aid), Equitable Compensation, BOOM, Conference share of Bishop’s Housing. II. Administration Finance Office, Conference Sessions, Trustee expenses, Property Administration, CF&A Reserves, Camping, Conference Secretary & Journal, JFON. III. World Service & Conf. Benevolences World Service Fund*, Conference Benevolences, Parish Development Grants, Campus Ministries. IV. Other Apportioned Causes Ministerial Education Fund*, Black College Fund*, Missional Priority, Africa University Fund* 4 * General Church Apportionment View or download presentation at www.nyac.com/conference-budgets

5. 5 Total Expenses Above = $8,527,715 Less Total Income = 533,308 Amount apportioned = $7,994,407 View or download presentation at www.nyac.com/conference-budgets

6.  Proposed 2015 Budget is $533,308  Increase of $17,749 (3.4%) vs. 2014 budget  Increase primarily driven by:  Parish Development: $12,950 (increased funding of Congregational Developer)  Archives and History: $10,000 (Fees to host NEJ Conference)  All other: $799 Partially Offset by:  Conference Sessions: $6,000 (decreased registration fees) 6 View or download presentation at www.nyac.com/conference-budgets

7.  Proposed 2015 Budget is $2,685,482  Decrease of $318,315 (10.6%) vs. 2014 budget  Decrease primarily driven by:  Increased CBOPHB contribution: $215,700 (due to market performance)  Decreased DS parsonage costs: $100,900 (capital now funded by Trustees)  Decreased Reserve for Full Funding: $27,200 (relates to CBOPHB contribution)  Decreased DS employee benefit costs: $19,800 (decrease in Uniform Rate)  All other: $3,715 Partially Offset by:  Increased DS’s & Assistant salary costs: $31,000 (bring in line with market)  Increased Technical Support costs: $18,000 (Add IT support for DS offices) 7 View or download presentation at www.nyac.com/conference-budgets

8.  Proposed 2015 Budget is $2,686,961  Decrease of $8,425 (0.3%) vs. 2014 budget  Decrease primarily driven by:  Decreased need to fund CF&A Reserves: $50,000 (improved cash flow mgmt.)  Decreased costs for Conference Sessions: $24,800 (tighter cost controls)  Decreased Trustee costs: $24,700 (reduced estimates for clergy trials) Partially Offset by:  Increased Assistant to Bishop costs: $37,400 (from ½ time to ¾ time)  Increased Finance salary costs: $24,700 (upgrade of Controller, COLA)  Increased Archives & History costs: $26,600 (from 3 days to 4 days per week)  All other: $2,375 8 View or download presentation at www.nyac.com/conference-budgets

9.  Proposed 2015 Budget is $2,629,597  Increase of $65,663 (2.6%) vs. 2014 budget  Increase primarily driven by:  Increased Connectional Ministries: $61,000 (new Admin. Asst, COLA)  Increased Parish Development Costs: $12,800 (Cong. Develop.)  Increased Mission & Outreach costs: $9,300 (additional chaperones)  All other: $5,768 Partially Offset by:  Decreased World Service apportionments: $23,205 9 View or download presentation at www.nyac.com/conference-budgets

10. 2014 Budget: $8,285,082  2015 Income: Increase of $17,749 (3.4%)  2015 Expense: I. Clergy Support: Decrease of $318,315 (10.5% ) II. Administration: Decrease of $8,425 (0.3% ) III. World Service & Conf. Benev. Increase of $65,663 (2.6%) IV. Other: Decrease of $11,849 (2.2% ) 2015 Proposed Budget: $7,994,407, -3.5% decrease 10 View or download presentation at www.nyac.com/conference-budgets

11.  Built on desire & commitment to meet needs of God’s family  Smaller gifts combined into larger ones effect transformative change throughout the world  Reflect priorities established by the Annual Conference  Represents requests from Boards, Committees and staff presented to and reviewed annually by CF&A  Once operating budget approved at Annual Conference – Finance office apportions to each church based upon Conference formula  Apportionments based upon certain church expenses reported on a two year lag – not membership rolls.  Example: Church expenses incurred in 2013, reported in 2014 are used to calculate apportionments charged during 2015. 11 View or download presentation at www.nyac.com/conference-budgets

12. Apportionment Base of Church Apportionment Base of Conference (sum of apportionment bases of all churches) = Apportionment factor: xx.x% x Conference Budget = Apportionment ($) Example: Apportionment Base (Table II): Amount paid to Pastor Amount paid to Assoc. Pastor Accountable Reimbursements Salary & Benefits for staff Program expenses Office expenses 12 $125,000 $33,000,000 = 0.0037878% x $8,000,000 = $30,303 View or download presentation at www.nyac.com/conference-budgets

13.  Apportionment formula set by Annual Conference  Some churches surprised by their apportionments  Effort undertaken to scrub submissions for obvious errors  Conference has no significant reserve for “mistakes”  Once numbers are communicated and final it is impossible to make adjustments since they would impact all other churches in the conference (approx. 460).  Review of data prior to submission is therefore critical.  Preliminary apportionments are already online at www.nyac.com “Finance”, “Apportionments”  Final apportionments posted in late September/early October 13 View or download presentation at www.nyac.com/conference-budgets

14. 25.5% or $2,038,438 – General Church & NEJ Apportionments: funds the World Service Fund, Ministerial Education Fund, Episcopal Fund, Black College Fund, General Administration Fund, Africa University Fund, Interdenominational Cooperation Fund and NEJ apportionments. See “back-up slides” for details. 17.6% or $1,409,584 - Conference Administration: funds the Finance office, Conference Center in White Plains, a portion of Bishop’s office/housing, Bishop’s Assistant & Administrative Assistant, publications of journals & directories, Conference Secretary and contingency funds. 14.5% or $1,155,222 - District Superintendents: funds the salaries, benefits, professional expenses and office expenses for our six Superintendents and assistants. Also funds DS parsonage utilities & maintenance. 12.6% or $1,010,928 - Conference Programs: Funds Conference Benevolences, Connectional Ministries, Missions & Outreach, website (www.nyac.com), Learning Center, church training programs, district programs (campus, youth, ecumenical, and justice ministries) and grants for local programs. 8.6% or $684,777 - Conference Boards & Committees: funds Board of Trustees, Conference Sessions, Camping & Retreat Ministries, Board of Ordained Ministry, Commissions on Archives & History, JFON, CORR, Personnel, Board of Church & Society, Immigration Taskforce and Commission on Sexual Ethics. 14 View or download presentation at www.nyac.com/conference-budgets

15. 5.8% $462,220 - Clergy Health Benefits: funds the costs of Healthcare Reimbursement Accounts for retirees and health coverage for those on incapacity leave. 5.7% or $460,000 - Other Clergy Support: Funds the cost of salary supplements for struggling churches, clergy recruitment & vocational change assistance, emergency aid and move costs for active & retired clergy. 4.9% or $393,238 – Reserve for Full Funding: Recognizes that full budget is not collected via apportionments. Reserve to ensure that certain required payments can be funded (e.g. payroll, benefits, taxes for Conference Staff and the costs of retiree healthcare). 3.5% or $280,000 – Parish Development: Funds grants to local churches for new missional projects and community programs. About 60% is prioritized for ethnic ministry projects and programs. 1.3% or $100,000 – Conference Reserve: used for unforeseen expenses, emergencies and cash flow management. Total: $7,994,407 15 View or download presentation at www.nyac.com/conference-budgets

16. 2015 Budget World Service Fund $1,028,909 Ministerial Education Fund 353,236 Episcopal Fund 308,592 Black College Fund 140,909 General Administration Fund 124,195 Africa University Fund 31,530 Interdenominational Cooperation Fund 27,639 Sub-total $2,015,010 Northeast Jurisdiction 23,428 Total $2,038,438 (25.5% of budget) For more information go to: http://www.gcfa.org/sites/default/files/u3/FinancialCommitment2013-2016.pdf 16 View or download presentation at www.nyac.com/conference-budgets

17. Fran CollinsAccounts Receivable Coordinator (Apportionments Integrity in Pensions Parish Development loans) 914-615-2223fcollins@nyac.com Gail KamermanAccounts Payable Coordinator (Disbursements) 914-615-2215gkamerman@nyac.com Heman PersaudBilling Coordinator (Health Insurance, Pension, CPP, Workers Compensation) 914-615-2232hpersaud@nyac.com Sam RosenfeldDisaster Recovery Finance Manager (Hurricane Sandy grant administration) 914-615-2214srosenfeld@nyac.com MaryLynn SalernoStaff Accountant (Statistical Tables, Conference Budget, financial Reporting & Analysis) 914-615-2236mlsalerno@nyac.com Susan TedescoController (Accounts Payable, Accounts Receivable, Billing, Audit, Payroll) 914-615-2235stedesco@nyac.com Sally TrugliaHR and Benefits Administrator (Health Insurance, Pension, CPP, Wellness programs) 914-615-2220struglia@nyac.com Ross WilliamsCFO & Director of Admin. Services914-615-2212rwilliams@nyac.com 17