Conrad Martin, Director of Finance
John Landes, Finance Committee Chair
CBFC Members: John Landes, Chair; Mary Clemens, Brent Kolb, Scott Landis, Barbara Rice, and Timothy Swartley; Resource person: Charlotte Hunsberger; Staff: Conrad Martin and Noel Santiago
Purpose: CBFC is responsible for providing responsible leadership on fiscal matters pertaining to the conference and its property and assets. The committee also develops a budget based on the vision of the Conference Assembly, for Conference Board approval.
2008 Updates/Activities: The Conference Board Finance Committee (CBFC) spent considerable time over the past twelve months discussing issues such as:
examining the various investment funds held with the Mennonite Foundation (ministry and missional grant funds), Univest National Bank (ministers retirement fund), and Mennonite Mutual Aid’s Praxis Mutual Funds (funds from the sale of the Yoder Road property);
use of the conference’s 501(c)(3) registration by conference related ministries (to ensure that the risk and exposure of the conference is minimized); and
cash flow needs (amounts and timing) for both the conference and the properties, including future capital expenditure needs of the Souderton Center and how to budget for this.
CBFC members routinely reviewed Franconia Conference’s financial reports, as well as provided reports to the Conference Board regularly, ensuring the conference stays within the budget set and that adequate cash flow is maintained.
CBFC members spent a couple of meetings developing a budget for the current year in line with the vision and mission of the conference. They also looked at various trends of recent years for clues to the future. Congregational giving continues to decline, which impacts the operations and ministries of the conference.
The long-term financial picture has been incorporated into the tasks of the Vision and Financial Planning (VFP) Team as they discern how God is calling Franconia Conference to be faithful with collective resources for the work of the Kingdom.
The CBFC members are committed to ensuring that the conference staff is being good stewards of the assets and resources that have been entrusted to Franconia Conference by the conference congregations and constituents—that they are being used appropriately and in alignment with the vision and mission of the conference. The conference received a clean audit report again this past year, verifying that the funds and reports are in alignment with good accounting practices. For the complete audit report, go to www.stewardship.mosaicmennonites.org or click here to download PDF.
For a four-year history of the Balance Sheet and Income Statement, click on the following links: Balance Sheet/Income Statement. Pie Charts of the Revenue (& major revenue sources) and Expenses (& program/support services) are also available.
The opinions expressed in articles posted on Mosaic’s website are those of the author and may not reflect the official policy of Mosaic Conference. Mosaic is a large conference, crossing ethnicities, geographies, generations, theologies, and politics. Each person can only speak for themselves; no one can represent “the conference.” May God give us the grace to hear what the Spirit is speaking to us through people with whom we disagree and the humility and courage to love one another even when those disagreements can’t be bridged.