Resolves of the Executive Council
| Title: | Assessment Payment Waivers |
|---|---|
| ID: | EXC112024.10 |
| Committee: | Executive Council (report 001) |
| Citation: | Executive Council Minutes, November 7-10, 2024, New Brunswick, NJ, pp. 2-3. |
| Text: |
Whereas, The Enabling Resolution (A164), adopted by the 81st General Convention, for the Budget for The Episcopal Church provides: That the assessment formula (Canon I.4.6.b.) for the period January 1, 2025 through December 31, 2027 is adopted based on a single assessment of each diocese. In each year the diocesan total adjusted operating income, as reported in the annual diocesan financial report (Canon I.4.6.j. and Canon I.6.4) for the year two years prior to the year to which the assessment is applied [e.g., 2025 assessments are to be based on 2023 actual income figures], shall be reduced by a $200,000 exemption. A single assessment shall be applied to the remaining amount (balance) at a flat rate of 15%; and it is Resolved, That the Diocese of the Great Lakes and the Diocese of Wisconsin be granted assessment relief in the form of additional income exemptions during 2025 through 2027. |
| Supplementary Text: |