Reformed Presbyterian Minutes of Synod 1995 - Rparchives.org

REFORMED PRESBYTERIAN CHURCHcould work together more effectively. Last Saturday (June 17) the FinanceCommittee followed the suggestion of the BOSCom and met with therepresentatives of the Boards together from 3:30 PM until 1 1:00 PM in anattempt to work out a consensus on how the available money in RPMSCMshould be distributed to help meet the goal of "healthy, growing, multiplyingcongregations". The meeting demonstrated once again the critical urgency ofestablishing a serious long range strategic planning process.Some of the factors affecting recommendations for RPMscMdistributions:A significant financial crisis has occurred at the Seminary. Afterrunning a deficit averaging $71,000 per year for the last five years, fora total of over $350,000, and after spending all of its UnrestrictedFunds to cover the deficit, the Seminary has run out funds and faces amajor shortfall in 1995 and future years. In 1992 and 1993 theSynod shifted its funding emphasis which resulted in a significantreduction in RPMscM funding for the Seminary. Subsequently, theSynod elected new faculty and endorsed the Seminary's plans to expandits efforts. The Seminary could not bring its expenses into line with itsincome and consequently the current crisis has come about.The Seminary is now asking that Synod grant it a significantly greateramount from RPMscM for 1996 and 1997 than it has been granted inrecent years. The President of the Seminary has committed himself tobalancing the budget by the end of 1997 and significantly reducing itsreliance on RPMscM for future years. The Seminary is aware that it isasking other ministries of the church to forego some of their efforts inorder to help it.Given these circumstances and commitments, the Finance Committeeis recommending that the Synod shift funding to help the Seminary forthe next two years.The Finance Committee commends the EscP Board for its diligent costcontainment efforts over the last several years. Any reductions in itsRPMscM distribution would mean the elimination of entire areas ofministry, which we do not believe would be in the best interest of theministry of the church.The FMB is forecasting a deficit of $75,000 by the end of 1997,which could be greater if its fundraising efforts are not as successful asprojected or if its RPMscM funding is reduced. The funds in Japanfrom the sale of the Mukonoso property are available to cover thisdeficit, if needed. The Finance Committee believes that expendingthese funds derived from capital assets for current operating expenses isnot a wise decision, unless absolutely necessary. The FMB is committedto having the funding in place before appointing a replacement forGene Spear. We believe that they should receive most of their requestin order to preserve their capital assets to reinvest in Japan.Geneva College recognizes the Synod's financial difficulties andconsequently has only requested the $50,000 from the MacLaughlinfl