Reformed Presbyterian Minutes of Synod 1993

60 1993 MINUTES OF THE SYNOD OF THEthis time. Financial reports for Plan B are included in the Treasurereport.ASSESSMENTSWith the increased costs, particularly with Plan A, the tmstees feel thatit is necessary to increase the Congregational Pension Assessment from$ 12 to $ 16 based on their membership as of the 31 st day of December 1993,as reported to the stated Clerk. This amount is to be paid to the Treasurer'soffice in quarterly installments. These amounts are received into theCurrent Account of the Pension Tmstees and are used to support theexpenses as shown by the Treasurer's report.Recommendation No. 3• That Synod set the 1994 Congregational Pension Assessment for thePension Tmstees Cunent Account funding at $16 per communicantmember, as per the communicant membership reported to the statedClerk as of December 31, 1993.Recommendation No. 4• That Synod allocate $23,624 from the Unrestricted-Undesignatedfunds of Synod to fund the deficit expected by the end of 1994. (SeePension Board Cunent Account Financial Report in Treasurer's Reportfor details.)Recommendation No. 5• That Synod receive the Auditor's Audit Report of Plan B for yearsended December 31,1992 and 1991 for information. (Report has beensupplied to the Finance Committee.)Recommendation No. 6• That Synod grant the amount of $45,000 from RPM&M program for1994 to the Pension Tmstees.INVESTMENTSThe Plan B investments as of December 31st, 1992, are as follows:—1991— —1992—Common Stock $ 562,619 $ 672,156U.S. Gov't Obligations 1,060,750 977,998Bank Money Market 159,267 457,560Non-Gov't Obligations 156,260 103,870TOTALS $1,938,896 $2,211,584