HOUSTON (ABP) — The Cooperative Baptist Fellow-ship adopted a $16.15 million budget but will begin the 2009-2010 fiscal year spending at 80 percent of projected income, anticipating continued reduced giving due to the economy.
“It will come as no surprise to you that this has been a difficult fiscal year for everyone, including the Cooperative Baptist Fellowship,” said Colleen Burroughs, chair of the finance committee of the group’s Coordinating Council. “The contracting global economy has affected millions of lives around the world, and CBF is not immune to that reality.”
Colleen Burroughs, chair of the finance committee of the CBF Coordinating Council, presents a $16.5 million budget to the CBF general assembly in Houston. (Photo by J.V. McKinney)
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Burroughs, executive vice president of Passport, a youth camping ministry and CBF ministry partner, said because of economic recession “needs of the neglected have become more acute,” and the missions and ministries of the CBF are more crucial than ever.
In March, the CBF Coordinating Council reported income was running about 20 percent behind budgeted amounts. Leaders implemented organizationwide spending limits of 80 percent of budget to cover an anticipated shortfall.
Meeting just prior to the July 2-3 CBF general assembly in Houston, the council learned the 20 percent shortfall projection had proven accurate, and reduced spending would carry over into the next year.
CBF Moderator Jack Glasgow, pastor of Zebulon Baptist Church in Zebulon, N.C., said leaders chose not to just reduce the budget, because despite fewer resources, the need remains unchanged.
“If you cut your budget back, then you’re really giving up before the game starts,” Glasgow said. By adopting a larger budget with a contingency plan in case revenues fall short, he said, “You have a way of managing a budget shortfall, but you’re still asking your people to support mission and ministry that is very important to us.”
The full $16.1 million budget is $400,000 less than the 2008-2009 budget adopted last year. Through eight months, receipts were running 20 percent behind income projections. To offset the shortfall, the CBF reduced spending to 82 percent of budgeted amounts.
CBF Controller Larry Hurst said administrators would try to balance out spending and receipts by the time the fiscal year ends Sept. 30.