Monday, June 15, 2009

Nazarenes Approve "Real-Time" Budget Assessment

According to the HolinessToday website, the Church of the Nazarene approved a new budget formula.

"The Budget Formula
The Board of General Superintendents also voted in December 2008 to recommend a new World Evangelism Fund (WEF) allocation formula of 5.5 percent for the entire global Church of the Nazarene.

"This proposed global formula is based on current year income and no deductions. This is intended to create greater global ownership, participation, and support of the WEF—in addition to giving within the regions for special missional projects.

"In addition, the Board of General Superintendents is recommending the following formula for the U.S.:

Proposed U.S. Budget Formula
World Evangelism Fund (WEF)5.5 %
Pensions & Benefits (P&B) Fund2 %
Education2.5 %
DistrictDetermined by district

"The U.S. formula will take effect with the 2010 district assemblies. It, too, is based on current year income and no deductions.

"District budgets in the U.S., which are a vital part of the mission funding of the church, will be in addition to these categories and percentages. Each district will set its own budget, based on district missional priorities. It should be noted that the Board of General Superintendents does not have authority to determine district budgets.

"These four budgets—WEF, P&B, Education, and District—form the core of local church mission and connectional giving in the U.S.

"The previous formula, which was the subject of much discussion and review for some time, was based on complex calculations determined by the previous year's expenditures in the local church. The new formula is determined by a simple and straightforward percentage of current income.

"One objective in this change is to leave more money in the local church for ministry."

Will the Wesleyan's be far behind in moving to a "real-time" current income assessment model? It was proposed at General Conference 2000 (Memorial #348,page 83).