We just completed our audits for the 1995 financial statements. I'm beginning to feel comfortable saying, "The past is finally behind us." There are still going to be questions that pop up as we go forward. We do know now what our financial position is. The future is less clear. There are issues of whether or not there will be adequate funds available. What will the structure be?
We have about completed matters regarding the embezzlement. May 17 we will close on the farm. Got a good price on the farm. Just completing negotiations on other settlements. Total recovery of funds is about 75% or a little more.
Our new assistant treasurer and new controller have been doing an excellent job. Improving controls and banking arrangements. There are online banking controls and lock box procedures for all incoming sums.
We manage nearly 1000 trust funds, some which do not benefit the church. We will be reviewing all investments and all policies. We have completed a complete legal review of all these trust funds. All are categorized, and are we satisfied that we are fulfilling the terms of the trusts.
A big task coming up is the budgeting process that we will begin to take in earnest this evening. We have solid accounting. But we need to do a better job with details. We can't yet separate meals and travel for a particular meetings. We're hoping to install a new accounting system by July 1, that will allow this kind of detail. Better information will allow changes without doing unintentional harm.
I am optimistic about the future. Conflict can be very enriching. I think we have seen the worst in the reductions in giving as a protest or sign of lack of trust. Dioceses are responding very well. Dioceses are meeting their commitments. There is confusion and inequity deriving from the formula used to determine commitments. Need to compare old formula with current formula.
I am hosting a stewardship conference at the end of this month. We will be developing a stewardship statement for parishes and dioceses.
Four months ago we began a complete review of all operations and all positions at 815. A number of changes are being suggested. These will be shared with the staff in June. There is an absolute commitment to the ideal that the role of 815 is service. We enable others to carry out program throughout the church. We have decided we would like to reopen the Office of Development. It was a mistake to close this office because of budget constraints. The Episcopal Church Foundation has stepped in to fill the void, but it is our responsibility. We need to be a resource to every parish and diocese in the church.
My first half year has been great. The honeymoon is ending. But it's been a great experience. People have really rolled up their sleeves.
Recorded by S. Lane