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Diocese of Easton �Budget Summary 2024

Diocesan Council

01-22-2024

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2024 Budget Summary – Overall Balance: (0.98%)

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2023 Budget

2024 Budget

OPERATING INCOME AND EXPENSE

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INCOME

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Apportionments

830

841

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From Endowments

233

272

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From Designated Funds

34

52

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Misc Income

6

18

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TOTAL Operating Income

1,103

1,182

EXPENSE

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Education, Meetings, and Nurture

26

75

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Mission and Ministry

207

208

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Bishop's Office

245

255

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Support Services/Misc

554

608

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TOTAL Operating Expense

1,032

1,146

NET OPERATING INCOME

71

36

SUPPLEMENTAL SCHEDULE

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TOTAL Supplemental Income

26

310

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TOTAL Supplemental Expense

101

361

NET SUPPLEMENTAL INCOME

(75)

(51)

OVERALL NET INCOME

(4)

(15)

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Income Comparison

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Income Changes, 2024 vs 2023

  • Apportionments: promises (by 1/9), and assume 95% of remainder
  • Additional draw from designated funds for General Convention
  • Supplemental Income includes net proceeds from Hillsboro sale

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Expense Comparison

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Changes to Expenses

  • Meetings: Additional expense for General Conv., Clergy Conference
  • Support includes 3.2% COLA for staff and Bishop
  • Supplemental reflects $80K property expenses and accrual of remaining proceeds of Hillsboro sale (est. $120K)