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PASTOR GENERAL'S
REPORT
TO THE MINISTRY OF THE
WORLDWIDE CHURCH OF GOD
VOL.5, NO.l
PASADENA, CALIFORNIA
REPORT FROM THE TREASURER'S OFFICE
January 6, 1983
JANUARY 7, 1983
We now have the complete financial information for 1982. It has been a
trying year because we did not receive as much income as we expected. Early
in the year we were heading toward depleting all of our cash reserves and
going in the "red." You probably realize that we do not have provisions now
for operating in the "red." Even though we were able to do this by routine
ly borrowing each year prior to 1979, we do not wish to do that now. Being
on a cash rather than on a credit basis is better for corporations and indi
viduals.
It became necessary to greatly limit expenses, and in the middle of the year
we had to delete all the "variances" or budget funds which had not been
spent. This may not seem like a drastic measure, but it was, as some de
partment heads can well attest.
In spite of all our efforts, we still spent about one-third million dollars
more for the year than we received. With mail and holy day income of $85
million, a third of a million is not very much. Hopefully, we have a little
better handle on things for 1983 and will be able to recover this small loss
to cash reserves. The new budget is more stringent than last year, and we
will watch things more carefully, especially at the beginning of the year.
I hope my report does not sound too negative, because we did have a very
fine income year, considering the United States economic situation; and
much was accomplished. As you know, we were able to expand considerably in
radio and television and to publish much more than the previous year. We
were also able to pay all of our bills, give a cost-of-living increase to
most employees, and contribute several million dollars to our international
offices.
We had a very good December with 20% more income than last year. This
brought up the year's percentage figure to 11.4% more than 1981. The income
figures break down as follows: 11.9% more in general contributions, 14.3%
more in festival contributions (excess second tithe and tithe of the
tithe), 9.9% more in church assistance (third tithe), 0.3% more for the
building fund, and 9.7% more in holy day offerings.
I am pleased to announce that Arthur Andersen & Co. will provide a combined
worldwide audit of the Work for 1982, in addition to the U.S. audit. They
already are at work on this audit. I believe that an audit by such a well
known and established multinational firm helps protect us from false accu
sations.
In a few more weeks we hope to again have a combined financial report of
income and expenditures in the WORLDWIDE NEWS for God's worldwide Work. We
are now in the process of compiling this information.
--Leroy Neff, Treasurer