budget

General Agencies
At its 2021 fall meeting, the General Council on Finance and Administration board made further cuts to the proposed denominational budget heading to the coming General Conference. Faced with the pandemic and expected denominational split, the board proposes cutting the budget by about a third starting in 2023. Photo by Mikern, courtesy of Pixabay.

Church exits, COVID lead to steep budget cuts

United Methodist financial leaders are trying to estimate what a proposed church split and ongoing pandemic mean for the denomination’s bottom line.
General Church
Ongoing financial challenges, made worse by the pandemic, have prompted big changes for the United Methodist Publishing House. The self-supporting agency has sold its Nashville, Tennessee, campus (pictured here) to a Chicago real estate firm, and has transferred the assets and management of a pension fund to Wespath Benefits and Investments. File photo by Mike DuBose, UM News.

Publishing House moves pension plan, sells campus

The United Methodist Publishing House, hard hit by the pandemic, has finalized some planned changes, including the sale of its Nashville property and transfer of a pension plan to Wespath.
Mission and Ministry
Barbara Boigegrain, top executive of Wespath Benefits and Investments, addresses the 2020 Pre-General Conference Briefing in Nashville, Tenn. Photo by Mike DuBose, UM News.

Boigegrain ready for life after Wespath

After 27 years leading The United Methodist Church’s pension agency through economic crises and toward investments that are ecologically and ethically sound, Barbara Boigegrain is retiring at the end of the year. She looks back at her tenure.
Bishops
With increased giving and reduced expenses, the Episcopal Fund that supports bishops’ work is in better shape. The General Council on Finance and Administration board voted to give bishops their first raise in three years, but the board still sees challenges ahead for the fund. General Council on Finance and Administration episcopal services department graphic, courtesy of GCFA.

Funding for bishops improves but still shaky

With increased giving and cost savings from retirements, the fund that supports United Methodist bishops is in better shape. Financial leaders approved the bishops’ first raise in three years.

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