DALLAS (ABP) — The Baptist General Convention of Texas has decided to tap $1 million of its reserve funds to help support the organization’s ministry as the economy slowly begins to pull out of the recession, officials announced Sept. 14.
The BGCT Executive Board has already granted approval for the use of such funds if necessary.
Giving through the BGCT Cooperative Program is down about 5 percent from last year and is running at 88.9 percent of the convention’s budget. Early in the year, BGCT leaders asked the Executive Board staff to contain spending, aiming for 90 percent of the budget approved by messengers to the 2008 BGCT annual meeting.
In February, the board approved the potential use of up to $2.5 million in emergency reserve funds to help the convention in the wake of nationwide economic instability. In late August, BGCT Treasurer Jill Larsen requested $1 million from those funds.
“While our giving is not what we budgeted, it is stronger than a lot of organizations are experiencing this year,” Larsen said. “I think that’s a credit to Texas Baptists’ giving, tithing and faithfulness.”
The economy has affected the convention as expected, and BGCT staff members are doing a “commendable job” of limiting expenses, Larsen said. Staff is spending at a 91.2 percent rate. She remains hopeful all the $2.5 million in approved reserves will not be needed, but she cautioned it is “quite possible” more than the $1 million withdrawal will be necessary.
“I think the year’s gone pretty much like we expected, so I don’t think we’d be surprised if we had additional withdrawals from the reserve fund in the fall,” she said.
Looking to 2010, Larsen said BGCT leaders are being conservative in their income estimates as they budget for next year.
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John Hall is news director for the Baptist General Convention of Texas.