By Bernie Schnippert
Greetings once again from the Treasurer's Office.
As I mentioned in the last Worldwide News, members responded to Mr. Tkach's financial appeals at the end of June with the result that July was a good income month.
Unfortunately, the daily average mail income for August fell almost to the same low level as June.
It is not perfectly clear why August's income fell as it did. But the effect on our budgeting process is quite severe and has necessitated immediate action by budget cuts.
The church's income has dropped from a high of about $151 million in 1990 to a projection of only $34 million for next year. In response to this decline over recent years, deeps cuts in personnel have occurred at headquarters.
Now that headquarters has been trimmed to bare survival levels (bearing in mind the necessity of caring for the church's headquarters property until it sells), there is simply no other place to cut than in our largest remaining budget area, Church Administration.
In summary, income for August fell almost to the level of June's. Although the reason for the fall is not clear, what is clear is that immediate budgets cuts have become necessary and are being implemented as I write. Unfortunately, the only place left to cut is in the Church Administration area, which is composed mostly of the budget for ministers' salaries and church expenses.
I realize that many of you are giving all you can and are praying daily about our income. Thank you very much for your financial support and your prayers. Both are very much needed and appreciated at this critical time.
Mail income in August $3,005,742 Daily Average: $136,625
Holy Day Offerings
processed in August 1,773
Other income in Aug. 146,012
Total income in Aug. 3,153,527
Totals for the year to date:
Mail income, Jan-Aug. $26,344,047 Daily Average: $160,634
H.D. Offerings 4,663,377
Other income, Jan-Aug. 2,696,422
Total, January-Aug. 33,703,846 Down from 1995: 41.2 percent
Expenses, Jan-Aug. 38,263,266 Down from 1995: 41.4 percent
Sept. 17, 1996, Worldwide News, page 7
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