2008 Journal Cover Pages.pub - Wisconsin Conference United ...

2008 Wisconsin Conference JournalThese budget proposals were then reviewed by the Cabinet and by the Council on Financeand Administration. CFA considered the recommendations of VQIT in their preparation ofthe budget submitted to Annual Conference.VQIT focused in its work this year on not only what we are doing through agencies andcommittees of our Conference, but on why and how what is being done is assisting peoplewho are United Methodist to Live, Give, Love , , , Beyond All Expectation.Respectfully submitted on behalf of VQIT,Bishop Linda LeeCo u n c i l On Fi n a n c e An d Ad m i n i s t r at i o nIntroductory comments:The Council on Finance and Administration’s purpose “shall be to develop, maintain andadminister a comprehensive and coordinated plan of fiscal and administrative policies,procedures and management services for the Annual Conference”. (Book of Discipline,paragraph 610)Highlights and accomplishments of the 2007 year:First and foremost, CF&A would like to thank the following churches for going beyondall expectation to pay more than 100 percent of their 2007 apportionments, for paying 100percent of their 2007 apportionments, or for moving toward full apportionment payment bypaying a higher percentage of their apportionments in 2007 than in 2006:(Editor’s Note: This list is printed at the end of the report of the Council on Finance andAdministration.)CF&A spends most of its time reviewing, approving and monitoring the AnnualConference budget. This process includes 1) reviewing Plans for Ministry and BudgetProposals submitted by the Conference boards, agencies and committees; 2) reviewingrecommendations regarding the budget from the Vision and Quality Improvement Teamand the Cabinet; 3) discussing the Plans for Ministry and budget with the Conferenceboards, agencies and committees and 4) proposing a budget to the Annual Conference.The process is designed to assure that the budget is coordinated with the overall missionand plan for ministry of the Conference. CF&A meets periodically to review financialresults against budget and to direct and approve the annual audit and to approve changes inadministrative policy. CF&A also reviews financial operations of the Conference to assureadequate internal controls are in place and suggests ways to improve finances both from anefficiency and a control perspective.The Wisconsin Annual Conference had indebtedness of $228,431 as of December 31, 2007,that was incurred to fund improvements to the Sun Prairie Conference Center building.Although the Conference has a $500,000 operating line of credit, it did not draw on thatline of credit during the 2007 year.For 2007, the Wisconsin Annual Conference paid in full the General Conferenceapportionments for the 19th straight year. In addition to apportionments, Wisconsin UnitedReports of Boards and Agencies239