By Ronald Kelly
PASADENA--In mid-August we again received good news from our independent auditing firm, PriceWaterhouseCoopers.
As was the case last year, we again have been given an unqualified opinion, which means an independent professional auditing firm has carefully reviewed the financial records of the WCG for 1999 and issued an opinion.
Their opinion includes this primary overview statement: "The financial statements of the Worldwide Church of God present fairly, in all material aspects, the financial position of the Worldwide Church of God ... in conformity with generally accepted accounting principles."
For many years the church has retained the professional services of an independent and respected firm of certified public accounts to examine our books and issue an opinion. These procedures provide confidence to banks, financial institutions and the many businesses with which the church conducts business.
Members should also feel confident that the financial affairs of the church are handled with integrity and in a professional manner. Members of the PriceWaterhouseCoopers staff spent several weeks in our offices carefully reviewing all church financial records. If they were to find inappropriate record-keeping or that the church financial picture does not meet their high professional standards, they, of course, would not issue the desired unqualified opinion.
This year, as in the past, the auditors who worked with our staff on campus complimented the work of our Finance & Planning employees who handle the finances of our church.
As controller, I am privileged to work with a group of men and women who faithfully serve in their positions. I have found each one to be extremely capable, dedicated and reliable. Although these individuals may not be as well known to our church members as other church officials, you can be certain you are being served by dedicated and competent individuals in the Accounting Office at headquarters.
The independent auditors have been especially impressed with the ability of church management to make the extremely difficult decisions of downsizing essential in maintaining financial stability through the past several years.
They have seen our income dramatically decrease from 1994 through 1999, yet have observed the church maintaining about 150 salaried pastors and preserving local congregations as bi-vocational pastors stepped in to serve our smaller congregations.
And of course they have noticed the dedication of thousands of church members who continue to donate generously to the work of the Worldwide Church of God. In conversation with our auditors, they give equal compliments to the members whom they have never met, but highly esteem for their loyalty to their denomination.
Because the annual audits are quite lengthy and technical in nature, we do not publish them in The Worldwide News. However a copy can be sent to any WCG member who requests one. Send your request to Ronald Kelly, Controller, Worldwide Church of God, 300 W. Green St., Pasadena, California, 91123.
We will keep you posted on the general financial trends with our monthly update column in The Worldwide News. For most of our church members, these monthly updates provide an appropriate overview of the financial affairs of the church.
Copyright © Worldwide Church of God, 2000