The Acts of Convention

Resolved, That the Budget for the Episcopal Church for the next triennium be adopted as set forth:

1.01 The Budget for the Episcopal Church for the period January 1, 1998 through December 31, 2000, which shall be a unified budget including Canonical, Corporate, and Program portions, is adopted at a total of $114,109,095.

1.1 The Canonical Portion, providing for the contingent expenses of the General Convention, the stipend of the Presiding Bishop and the expenses of that office, the stipend and expenses of the President of the House of Deputies, and Church Pension Fund assessments is adopted at a total of $20,265,900 as follows:

For the year 1998 $6,031,986

For the year 1999 $6,060,712

For the year 2000 $8,173,202

1.2 The Corporate Portion, providing for the requirements for the administrative support of the Domestic & Foreign Missionary Society offices, is adopted at a total of $25,088,823 as follows:

For the year 1998 $8,258,125

For the year 1999 $8,314,743

For the year 2000 $8,515,955

1.3 The Program Portion, providing for support for the mission and ministry (restricted and unrestricted) of the Church, is adopted at a total of $67,400,958 as follows:

For the year 1998 $22,225,491

For the year 1999 $22,513,416

For the year 2000 $22,662,051

2.0 The Funding policy for the period January 1, 1998 through December 31, 2000 is adopted, based on a single Asking (apportioned share) of the Dioceses. After a $100,000 exemption from total income, a single asking shall be applied at a flat rate of 21% of the balance of income to the Diocese, reported in the Diocesan Financial Statements for the year two years prior to the year to which the pledge is applied. "Income" includes 1) all congregational giving to the Dioceses, 2) all unrestricted investment and endowment income to the Diocese, 3) restricted investment and endowment income to the Diocese which covers costs in the operating budget, and 4) other earnings from investments or enterprises. It is intended that income shall include revenues that fund normal operating and programming expenses of the Dioceses. It is not intended to include pass-through income that is used for expenses for programming that is simply administered by the Dioceses, or that would not be otherwise funded by contributions from Parishes or out of investment income. [Note: 1998 Askings (apportioned share) are based on 1996 actual income figures.]

2.1 That the Episcopal Church stewardship standard for Congregations and Dioceses of 50/50 giving within and beyond themselves is reaffirmed and is to be reflected in the following ways: those Dioceses currently giving at levels above 21% maintain or increase those levels; those Dioceses currently not giving at the 21% level increase their giving to meet (or work toward) the 21% level, striving to be at 21% before the end of the triennium.

2.2 For the budgetary period income from Diocesan commitments, totaling $78,660,827 is anticipated as follows:

For the year 1998 $25,438,510

For the year 1999 $26,188,701

For the year 2000 $27,033,616

2.3 For the budgetary period 1998-2000, payment by the Dioceses of the askings (apportioned share) shall be made in twelve equal monthly payments.

2.4 All additional income, other than from the Askings (apportioned share) of the Dioceses, totaling $35,458,929, is projected as follows:

For the year 1998 $11,223,636

For the year 1999 $11,691,816

For the year 2000 $12,543,477

2.5 A General Ordination fee is hereby authorized, which fees shall be added to the funding from Dioceses and applied to the expenses of examination as appropriated in the budget. A candidate for Holy Orders eligible for examination and so certified by the Diocesan Bishop shall not be disqualified for examination because the fee has not been paid.

2.6 General Convention registration and exhibitors fees are hereby authorized, which fees shall be added to the funding from Dioceses and applied to the expenses of the 1997 General Convention, and for no other purpose.

3.0 In the exercise of their respective authorities, the Executive Council of the General Convention and the Joint Standing Committee on Program, Budget and Finance shall be subject to the following policies:

3.1 Each year, the Executive Council, with the advice of the Joint Standing Committee on Program, Budget and Finance, shall adjust the Budget to the assured income of the Executive Council so as to carry out the Budget for the Episcopal Church for that year on a balanced budget basis.

3.2 The fiscal year shall begin January 1.

3.3 If in any year the total anticipated income for budget support is less than the amount required to support the Budget approved by the General Convention, and subsequently the Executive Council, the Canonical Portion of the Budget for the Episcopal Church shall have funding priority over any other budget areas.

3.4 Any unexpended general funds in a fiscal year may be treated as revenue available for budgetary purposes in ensuing year(s), and shall be used for no other purposes.

3.5 Undesignated bequests and legacies received during the budgetary period shall be set aside in the general endowment fund of which only the income shall be used for the general purposes of the Society.

3.6 Designated bequests and legacies received during the budgetary period shall be set aside in specific funds of which only the income shall be used for the purposes so designated.

It is recommended to the Presiding Bishop and the President of the House of Deputies that the Block Grants for meeting expenses and miscellaneous expenses be administered by the Canonical Section of [the Committee on] Program, Budget and Finance, which may utilize the former Challenge Process employed successfully in prior years whereby the Interim Bodies communicate their needs to the Canonical Section and to each other for mutual consideration in determining the allocation.