Conference Treasurer Scott Selman Shares Key Financial Notes for Annual Conference
Many of our pastors and lay members to Annual Conference have been actively involved in relief efforts since the tragic tornadoes on April 27. So, I’m wondering how many folks have had time to study all of the reports in the Preconference Book. Just in case you are a little behind in your reading, here are some key financial notes:
Council on Finance
The Council on Finance is recommending a 14.97% decrease or a $1.6 million reduction in the Conference budget for 2012. Such a decrease is unprecedented in recent memory. The Council on Finance is confident that sufficient funds will be provided for ministry in 2012 based on recent receipts and spending patterns. More information is available beginning on page 118 in the Preconference Book.
Board of Pension and Health Benefits
Premiums for disability/death benefits will remain $174 per month – no increase in 2012.
Premiums for health insurance will remain $698 per month for individual coverage and $698 per month for dependent coverage, or $1,396 for family (individual and dependent) coverage – no increases in 2012.
The past service pension rate for pre-1982 service will be $636 per full-time year of eligible service in 2012, an increase of $13 or 2% over the past service rate in 2011. A 2% increase is also slated for surviving spouses and dependent children.
Retired clergypersons age 65 or older with 15 years of eligible full-time service will receive a grant in the amount of $70 per month to provide supplemental funding for retiree living expenses. A second grant in the amount of $70 per month will be provided for eligible clergy spouses or surviving spouses. More information is available in Report Number 4 on page 78 in the Preconference Book. The grants will be funded by $170, 000 from the 2012 Conference budget and $170,000 from pension reserve funds.
Commission on Equitable Compensation
The recommended minimum compensation scale for 2012 is $36,990 for full Conference elders and associate members (no change from 2012); $35,000 for provisional elders, seminary grads; $32,000 for full-time local pastors and seminary graduates, non provisional members (an increase of $900 over 2011); and $31,000 for seminary students (an increase of $900 over 2011).
Congratulations to the 481 churches that paid 100% of their 2010 Conference budget askings!
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