An article from ENS on the proposed Changed Budgetary formula discussed at the partial ACC Meeting

A new formula for setting the level of financial commitments from the Anglican Communion’s provinces approved May 4 by the Anglican Consultative Council has the potential to greatly increase the amount of money expected from The Episcopal Church.

Anglican Communion Chief Operating Officer David White acknowledged that the new annual formula, which is based on the number “active bishops” in a province multiplied by their average salary (including housing costs) multiplied by 10%, produces “the most extreme case of potential impact” for The Episcopal Church….

Historically, the Church of England (at 41.4% of the total income) and The Episcopal Church (at 21.9%) have been the two largest contributors to what is known as the Inter-Anglican Budget. General Convention has budgeted $1.15 million as its total 2019-2021 contribution (line 412 here).

White’s budget report says the ACC’s unrestricted spending budget in 2019 is about $2.3 million. “Given the consistent excess of ambition over resources,” the report says the budget needs a 5% annual increase in money available for unrestricted spending, as opposed to money contributed for specific programs.

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Posted in Anglican Consultative Council, Episcopal Church (TEC), Ethics / Moral Theology, Stewardship

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