2011 budget adopted by Convention

Deputies at the 137th Annual Convention approved a balanced $2.58 million budget without amendments on the first vote (attached, with narrative).

The Saturday vote was preceded by a budget presentation to the full convention deputation Friday afternoon and a budget hearing Friday evening, given by Linda Curtiss, Interim CFO and the Rev. John Mennell, chair of the Budget & Finance Committee.

The approved budget includes:

• An expected increase in pledge income from congregations of $114,000, the first increase in expected pledges since 2004.
• No budgeted principal withdrawals from investments.
• Increased outreach giving from 5.6% to 6.6% of the total budget, an increase of $27,000.
• Increased giving to The Episcopal Church from 16.9% to 17.9% of the total budget, an increase of $36,000.
• No salary increases for diocesan staff in 2011.
• A payment of $10,000 towards the amount owed on the diocese's 2008 pledge to The Episcopal Church. Additionally, Curtiss noted that both the 2009 and 2010 TEC pledges were paid in full in monthly installments.
• A payment of $29,000 to the diocese's lay pension plan, a minimum funding level for current staff participants.