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Financial news good: MC Canada

   

March 17, 2006
-by Dan Dyck

Winnipeg, Man. — Lloyd Plett and Randy Wiebe reported to the Leadership Assembly here on Mar. 2 - 4 that Mennonite Church Canada’s fiscal year ended well.

Preliminary (un-audited) numbers suggest a happy confluence of higher than budgeted donation revenue of $3,948,000 ($68,000 higher than projected) and lower than anticipated expenses. This resulted in a surplus of $229,000 (before reserve transfers) for the fiscal year ending Jan. 31, 2006.

Jack Suderman, General Secretary, said, “MC Canada leadership is particularly grateful to congregations and individuals whom we know gave sacrificially this past year.”

Al Rempel, Director of Resource Development, noted that giving from individuals and corporations was particularly strong. This was the first year since 2002 that Mennonite Church Canada received over a million dollars from this group of donors.

Rempel said, “We can rejoice in the positive results, but at the same time remember to celebrate in the context of recovery. This year is a huge help in compensating for the [MC Canada’s] first fiscal year when we had to significantly draw down reserves.”

Expenses for the year were less because of several factors – one of which was that several staff positions were not filled for a period of time.

The surplus funds will help continue the restoration of reserves to prudent levels, and form a foundation for new programs in coming years. Celebrating the generosity of many individuals and congregations must be balanced with cautious planning for the future growth of new ministries, added Rempel.

Audited financial statements will be presented to delegates at the annual assembly in Edmonton, July, 4-7.