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Giving strong for first four months of 2011

   
 


Randy Wiebe, Chief Financial Officer for Mennonite Church Canada, reported strong giving for the period Jan. 31, to May 31, 2011, but cautioned that “It’s too early to read too much into this.” Treasurer Gordon Peters is seated.

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July 15, 2011
-Dan Dyck

Waterloo, ONT. — During his financial report on the morning of July 6, Randy Wiebe, Chief Financial Officer for Mennonite Church Canada, graciously thanked congregations, corporate, and individual donors for their support, noting that as of May 31, giving was $2,000 ahead of projections for the first four months of the current fiscal year.

The June postal strike delayed mailed in donations, so more current data was not available, he noted. But, he cautioned that “It’s too early to read too much into this.”

Wiebe issued a challenge to raise $150,000 in additional donations of ministry support for the fiscal year ending Jan. 21, 2012, for a total income budget of just over $5.5 million. “Our financial policies do not permit deficit budgets,” he noted.

However, careful management has resulted in strong overall financial health for Mennonite Church Canada. The negative 2010-11 outcome was softened somewhat by under-expenditures and delayed hiring for vacant staff positions.

Wiebe reported that assets-to-liability ratios are well within safe limits and that the national church aims to have a three month operating reserve.

In his report, Wiebe noted that the pattern of year-over-year declining income for Mennonite Church Canada continued in the fiscal year ending Jan. 31, 2011. A donation shortfall of $194,000, in addition to ongoing inflationary cost increases resulted in program, staff, and grant reductions for the upcoming fiscal year, with severances being absorbed in the current fiscal year. “Reduced support along with inflationary increases cannot sustain the current program,” he emphasized.

Delegates passed the budget for the fiscal year ending Jan. 31, 2012 without discussion.