Delegates Approve $17.6 Million Budget

Delegates to the 135th Annual Meeting today approved a 2022 budget of $17.58 million. It is the smallest budget since 2017.

It represents a 2.8 percent increase in the core mission budget and a 4.3 percent increase in the total budget over 2021. The 2021 budget was adopted by the Executive Board because the Annual Meeting was canceled.

The budget allocates $1.47 million in 2022 for church planting. The 2021 budget allocated $1.2 million.

Steve Klimkowski, chief financial officer, said, “The total budget number reflects a 23.3 percent increase in net church plant appropriations—the result of more normal levels of church planting activity expected in 2022.”

Klimkowski said the Covenant has been too dependent on reserves, with a draw that peaked at $2.6 million in 2019. That trend, he added, is not sustainable. The 2022 budget draws $883,056 from reserves.

Klimkowski said that the need for the larger reserve draw in 2022 reflects a return to normal levels of mission activity as the pandemic fades. He noted that the total 12-month fiscal year budget shortfall in 2019 was $2.6 million.

The budget puts the denomination on the path to achieving a 2024 balanced budget that does not draw on reserves, Klimkowski said.

Core Mission Budget

Start and Strengthen Churches: $1.09 million
Make and Deepen Disciples: $887,783
Develop Leaders: $923,585
Love Mercy Do Justice: $642,126
Serve Globally: $1.42 million
Communications: $1.42 million
Shared Services: $4.05 million
Other: $250,000
Core investment total: $10.68 million
Church Plant Appropriations: $1.95 million
Living Legacy Funding: $(480,000)
Net Church Planting Appropriation $1.47
Global Personnel Appropriations: $4.43 million
North Park University Appropriation: $1 million
Mission Friends Appropriations: $5.54 million

Total Mission Advancement: $17.58 million

Income (Mission Provision)
Local church giving: $8.15 million
Individual donors: $2.61 million
Mission equity: $443,170
Affiliate fees: $4.2 million
Annual bequests draw: $818,000
Other income and rent: $472,104

Total Mission Provision: $16.71 million

 

 

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