wfn.org | 40 Restricted Funds Distributed;

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17-February-1998 
98056 
 
               40 Restricted Funds Distributed; 
                  Time Line for Round Two Set 
 
                     by Jerry L. Van Marter 
 
LOUISVILLE, Ky.-A new program for distributing Presbyterian Church (U.S.A.) 
restricted endowments to sessions, presbyteries and synods netted 178 
recipients more than $725,000 when the General Assembly Council (GAC) 
approved the first group of allocations Feb. 13. 
 
    The receiving sessions, presbyteries and synods were among some 550 
governing bodies that applied for the first round of allocations.  Requests 
for the available money from the 40 restricted endowments that were 
expended in 1997 totaled $9.5 million. 
 
    "It was difficult to choose," said the Rev. Rocky Laha of Shreveport, 
La., chair of the committee that reviewed proposals for use of the funds. 
"We looked for strong PC(USA) connections and projects with sound 
theological underpinnings." 
 
     Previously, all proceeds from restricted funds held by the 
Presbyterian Church (U.S.A.) Foundation for the General Assembly were spent 
solely through the General Assembly mission budget. 
 
    But a growing decentralization of the church's mission and 
decision-making plus a sizable growth of "accumulated income" from 
restricted funds led the GAC and the Foundation to develop a plan for 
making some restricted funds available to any governing body that could 
make a persuasive case for their use.   Last year's General Assembly 
approved the new program. 
 
    "This process relies heavily on local governing bodies," Laha told the 
Council.  "They know best where the most effective mission possibilities 
are and we hope to foster increasing partnership [with this program]." 
 
    Laha also announced the time line for the second round of restricted 
funds allocations: 
 
    *  March 1: a list of newly available restricted funds, including their 
       amounts and the restrictions on them, will be published by the 
       Foundation 
    *  May 1: the deadline for sessions to submit their applications to 
       their presbyteries 
    *  June 1: the deadline for presbyteries to submit their applications 
       to their synods 
    *  July 1: the deadline for synods to submit their applications to the 
       GAC's Restricted Funds Oversight Committee 
    *  Aug. 1: the deadline for results of consultations regarding all 
       proposals from a synod to be submitted to the oversight committee 
    *  Sept. 25-26: GAC approves the next group of applications for 
       funding. 
 
    The Rev. Richard C. Hutchison of Fort Wayne, Ind., sounded a cautionary 
note.  With thousands of funds totaling more than $545 million on deposit 
with the Foundation, he said, "About $750,000 out of millions and millions 
is a very small portion.  This program needs to be carefully interpreted so 
we don't have another public relations debacle." 

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