FOR IMMEDIATE RELEASE
October 10, 2017
Contact: Sharon Dean
615.369.2336 | email@example.com
Nashville, TN – The Economic Advisory Committee (EAC), formed a number of years ago by the General Council on Finance and Administration (GCFA), held a meeting in Nashville, Tennessee on October 2-3, 2017. The Committee members are Dr. Marci Armstrong, Associate Dean of Economics; Dr. Nathan Balke, Economics Professor; Dr. O. Homer Erekson, Economics Professor; Jeff Pospisil, an Annual Conference Director of Finance; Rev. Jasmine Smothers, Lead Pastor; Rev. Dr. Elijah Stansell, an annual conference Treasurer; Rev. Dawn Taylor-Storm, a District Superintendent and Dr. Thomas B. Fomby, Economist and Professor of Economics. Dr. Fomby serves as chairperson of the Committee that provides expert analysis and forecasts for use by those who will present the proposed general Church budget to General Conference each quadrennium.
During its recent meeting, the Committee focused its efforts on setting a new, simpler and more easily understood the method to arrive at appropriate estimates of the local church “net expenditures”, an important variable used in the general Church apportionment formula. After further work and refinement, and consideration of updated economic data, the EAC will send its final analysis to other groups involved in forming proposals to the 2020 General Conference relating to general Church budget for the next quadrennium, which includes the GCFA Board of Directors, the Connectional Table, and the Budget Advisory Team.
Moses Kumar, chief executive of GCFA said, “In every aspect of our work with the Church, we want to be mindful of the giving of individuals that makes possible our collective ministry together, and also the importance of transparency in every step of the budget formulation process. This committee’s wisdom and expertise have proved helpful, and we are grateful that these professionals have dedicated their talents to this effort for the Church.”
The next meeting of the Committee will occur in April 2018, when further pertinent economic data will be reviewed.