Apportionment receipts for October were 5.9%, continuing a downward trend since June 30. Apportionment receipts averaged 7.1% for the first six months of 2022, but they have averaged only 5.5% per month since then. On a year-to-date basis, we have received 64.6% of our apportionments. That is 1.0% lower than last year and 0.6% below our average for the past ten years. At this rate, we project yearend apportionment receipts of about 82%.
Apportionment receipts through October are detailed as follows:
Despite the slight decline in apportionment receipts, the Conference remains in fairly good financial shape. Our available cash reserves are $2.9 million, down from $3.1 million at the beginning of this year. We show an overall operating deficit of $582,000 due to the following items:
- payment of one month of apportionments for all churches in the Conference cost $467,000;
- investment losses were $267,000;
- Low registration fees didn’t cover the extra costs of holding a hybrid annual conference session (both in-person and virtual), costing us $34,000; and
- COVID-impacted losses in our camp and retreat ministries (particularly at Mingus Mountain Camp) cost $183,000.
Our operating deficit was lower than it might have been as a result of reduced travel, operating efficiencies, and lower staff costs in many of areas of ministry. So, we are thankful for that, just as we are thankful for your continued support of our connectional system through your apportionment contributions.
Apportionments are a way to look beyond just ourselves. Please do all that you can to help our churches and our ministries continue to change lives by contributing apportionments as fully as possible in the remaining months of 2022. Thanks again for your commitment; it truly provides the financial stability for our connectional programs to work.