2012 deficit less than expected.
Caption: Hanna Goschy, General Synod treasurer
Although final results are not yet certain pending a completed audit, FMC said, "It is reasonable to expect that the deficit will be in the neighbourhood of $100,000." A deficit of $287,680 had been forecast for that year.
However, "although 2012 will likely end up more favourably than anticipated four months ago, the outlook for 2013 has not changed," said the report submitted by committee chair, Rob Dickson. Last fall's meeting of CoGS had approved a transitional budget with a deficit of $513,000.
The primate, general secretary and treasurer are to meet with the FMC chair and General Synod directors to identify areas for "cost-savings," with the goal of developing a balanced budget for 2014. Dickson said the FMC reaffirms the direction set by CoGS in November 2008 for a balanced budget for 2014 and beyond.
CoGS, at its spring meeting March 14 to 17, did not discuss the budget, pending an audited statement.
In its written report, FMC said the 2012 figures were helped by the following factors: diocesan giving was higher than forecast since one diocese "made a significant contribution for amounts owing from a prior year"; the Consolidated Trust Fund was refunded overcharged investment management fees of $183,311; and the Anglican Journal had a strong final two months. General Synod also received a large bequest in December 2012, which had specific restrictions, the report added.--M.S.
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|Title Annotation:||ONWARD TO OTTAWA|
|Date:||May 1, 2013|
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