Reformed Presbyterian Minutes of Synod 1997 - Rparchives.org

96 MINUTES OF THE 1997 SYNOD OF THE
The work this year's committee had before it was extraordinarily different t
that of two years ago. In 1995 the Synod was facing another financial crisis in
spite of five years of steep cuts in many programs. We praise God that over the
last two years large amounts of funds have come into the agencies of the church.
For example, in 1996, the RPMaiM goal was met for only the second time in
many years. In 1996, $419,000 were received in bequests and already in 1997
over $380,000 have been received in bequests. The Seminary received over
$298,000 in contributions and bequests in 1996. Geneva College projects a
positive balance at the end of FY96-97. The RP Home has been able to add a
whole new ministry while having a positive cash flow the last two years. Also,
continued carefulness in financial management has resulted in cost savings without
significantly reducing the effectiveness of our ministries.
As a result of these unexpected financial blessings, the Synod has the
opportunity to distribute special grants of $250,000 from its Unrestricted
Undesignated Funds. Synod's Trustees have made all the agencies aware of the
availability of these funds and received requests from them.
There is much for which we must give praise to God, including the fact that,
D.V., no significant ministry of any of our agencies will need to be cut back or
eliminated this coming year as a result of the lack of Synod financial support.
Following are some of the factors affecting recommendations for financial
distributions:
Foreign Mission Board
In June of 1995, the FMB had projected a deficit at the end of 1997 of
$75,000 partially because of the Board's willingness to give up funds for the
Seminary. Because of such things as missionaries leaving Japan, the sale of the
Mukonoso property, the retrieval of apparently all the formerly blocked funds in
Cyprus and the inability, so far, of finding new missionaries for Japan, they now
project a balance of approximately $130,000 at the end of 1998 plus
approximately $100,000 from the sale of the Mukonoso property available for
capital expenditures. However,it is very important to be prepared for the call of
at least one and possibly two missionaries to Japan, so a healthy balance is
appropriate.
We believe that the funds to complete the construction of the Bookstore are
available from the balance in the Board's current account or can be obtained
through contributions for that specific project. A special grant of $15,000 from
the Unrestricted Undesignated Funds is recommended for their anticipated search
for a new field of ministry.
Home Mission Board
The HMB gave up $50,000 of anticipated RPMetM revenue during 1996 and
1997 in order to help the Seminary through its financial crisis. The recommended
special grant from the Unrestricted Undesignated Funds will replace that loss and