| CP Receipts Shy of Budget as Fiscal Year Closes |
| Release Date: 09/18/2008 |
LOUISVILLE – As the 2007-2008 fiscal year came to a close on August 31, Cooperative Program receipts totaled $23,867,431 for the year - enough to set a new record, but not enough to meet the $24 million budget.
In order to meet budget, at least $2,192,070 was needed in August, said Lowell Ashby, KBC Business Services Team leader.
Ashby said churches gave $2,059,501 through the Cooperative Program in August. This figure brought totals for the fiscal year to $23,867,431, shy of the $24 million budget by 0.55 percent, or $132,569.
The $23,867,431 in total receipts is the highest amount ever received during any fiscal year for the Cooperative Program. Totals from the 2007-2008 fiscal year exceeded those of the previous year by $337,127, or 1.4 percent.
“We are thankful for the faithful giving of Kentucky Baptists that set a new Cooperative Program record and increased receipts by 1.4 percent over the previous year,” said Billy Compton, executive associate for Cooperative Program and resources.
“This year was unusual since August 31 fell on the last Sunday of the month and gifts had to be postmarked before that date in order to be counted in 2007-2008 totals,” said Compton. “In light of that, we feel confident that the generosity of our churches will carry over into the new fiscal year to help us meet or exceed budget.”
Ashby said this is the third straight year for record CP totals, but receipts exceeded budget in only one of those years. The 2006-2007 fiscal year was behind budget by 0.1 percent, while the 2005-2006 fiscal year was over budget by 1.2 percent, he said.
Ashby said the 2008-2009 budget is again set for $24 million. The KBC fiscal year runs from September through August of each year.
“It’s important for us all to remember that gifts through the Cooperative Program represent more than dollars,” said Compton. “They support missions work in Kentucky, across our nation and around the world, and are making a difference in every life that is changed.”
The Kentucky Baptist Convention is a cooperative missions and ministry organization made up of more than 2,400 autonomous Baptist churches in Kentucky. A variety of state and worldwide ministries are coordinated through its administrative headquarters in Louisville, Ky. including: missions work, disaster relief, ministry training and support, church development, evangelism and more.
Release prepared by Kristie Randolph, KBC Communications |
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