Wednesday, December 17, 2008

World Church Faces Financial Limitations

Travel budgets cut, hiring freeze implemented
Reported by Ansel Oliver, assistant director for news, General Conference

Executives of the General Conference of Seventh-day Adventists announced financial restraints and cutbacks to deal with the current economic situation, ranging from delaying pay increases and budgeted increases in appropriations to reducing travel budgets and relocating executive meetings. Also, a hiring freeze is in effect. The moves come in response to global economies facing declines in stock market value, a credit crunch and increased unemployment rates, realities that could significantly affect tithe and other contributions to local congregations and administrative offices worldwide.

Church finance officers will review the church's budget in mid-February, shortly after new tithe and offerings figures will be available. Leaders emphasized the church was not in a "crisis" mode, but making short-term changes until they have a clearer understanding of where the economy and financial markets are headed.

No comments: