![]() The Statement of Activities, otherwise known as the “Income Statement,” provides an overview of income and expenses by category for the fiscal year. Cash balances continue at about the same level so far in this fiscal year. Donations made with specific designations are used only for those purposes. On page 14 (Note 8) of the report the balance in each restricted fund is noted. It is notable that total assets of the Church have increased by 18% over the prior year. On page 3, the Statement of Financial Position (otherwise known as the Balance Sheet) discloses our asset and liability balances at year-end. ![]() On pages 1 and 2 of the audit report, the external accounting firm states its opinion that the financial statements and information “present fairly the financial position of at June 30, 2022.” Assets and Liabilities The final report is presented to the Council of Elders at its December meeting, then made public in the Church’s newspaper.Īgain, this year, the Ohio-based public accounting firm of Clark Schaefer Hackett was engaged to perform the audit for the fiscal year ended June 30, 2022.Īs we are now six months into the Church’s current fiscal year, it may be interesting to you to review some highlights of our past and current fiscal year.įirst, let me report that the Church’s financial condition continues to be very strong, for which we are thankful to God and to the members, donors, coworkers and others who faithfully support His work.įollowing are a few items and statistics of interest, with page reference to the attached financial statements, as you review them. ![]() In accordance with our bylaws, an external audit of our financial statements, procedures and operations is performed each year. ![]() Overall, 2022 was about serving more, serving better, and serving the Church.As is our custom, the financial statements of the United Church of God, an International Association, are printed in entirety in the first issue of United News following the December Council of Elders meetings. This work moved us closer to the goal of an inclusive, welcoming work community.Īmid market volatility, the Balanced Investment Portfolio consistently outperformed a blended relative benchmark of index funds - meaning we performed better than expected in a year of great challenge. In 2022, through recruiting efforts and promotions, our staff, including leadership, grew more diverse. Meanwhile, access to the Assistance Program expanded for ministers, employees, and retirees as a result of the most extensive eligibility changes to the program in a generation.Īs a national agency of the Church, we share in the PC(USA)’s commitment to removing the effects of structural racism, and our work around diversity, equity, and inclusion is ongoing. Our relationships with PC(USA)-affiliated employers, who drive plan growth, deepened, while our church employers continued to extend plan benefits to more of their employees. We introduced care navigation, providing members of the Church’s Benefits Plan with guidance through an increasingly complex healthcare system. In 2022 our mission to serve the Presbyterian Church (U.S.A.) advanced as we met or exceeded our goals in what was an extraordinary year. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |