Reformed Presbyterian Minutes of Synod 1993

REFORMED PRESBYTERIAN CHURCH 55BEQUESTSThe Tmstees report the following bequests received in 1992:C.J.S. MacLaughlin TmstKitchen & Patterson Fds.Isabelle HustonEdyth AUan(t (4Margaret Redpatht« ««Anna M. JohnstonSamuel A. JacksonTOTALUndes.ttttFMBHMBFMBSemFMBSem$121,184.35614.682,945.27114,534.63114,534.621,584.251,584.252,753.0222,100.00$381,835.07The Foreign Mission Board used their portion of the Edyth AllanBequest to set up a New Field Fund (with the approval of Synod) and theHome Mission Board is using their portion to help fund their $300,000campaign for funds to begin new works.UNRESTRICTED UNDESIGNATED FUNDSThe financialreport on Unrestricted Undesignated Funds of Synod islisted in the Treasurer's Report this year. We began the year with a deficitbalance of $32,847, $124,744 was received this year, and $179,370 wasdistributed, leaving a deficit balance of $87,473. This means that $87,473was bonowed from the departments of the church, congregations thatowned invested funds, Geneva College, etc. in order to pay this deficit.$59,370 of this was due to the 1991 RPM&M deficit and explains whySynod set the new policy to only distribute the actual funds received forRPM&M each year.MISCELLANEOUSThe Unallocated Denominational Office budget is printed in theTreasurer's Report. The Tmstees recommend that the 1994 budget beapproved (see Recommendation 7).The Tmstees continue to carry an accident insurance policy on delegatesto Synod, presbyteries, and committees of Synod. It is an accidentpolicy, so if anyone is injured whUe traveling on church business and is notfully covered by their own insurance, they should contact the Treasurer'sOffice.