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ELCA NEWS SERVICE

November 14, 1998

GOOD NEWS FROM THE ELCA TREASURER
98-CC2-01-FI

     CHICAGO (ELCA) -- Two-thirds of its way through its 1998 budget year,
the Evangelical Lutheran Church in America (ELCA) is experiencing positive
cash flow, thanks in large part to a $2 million increase in giving from the
church's 11,000 congregations over the same period the previous year.
     "The church is doing well," said Richard L. McAuliffe, ELCA
Treasurer, in his regular report Nov. 13 to the ELCA Church Council.  He
added quickly a note of caution: "There will probably be a rainstorm."
     The Church Council is the ELCA's board of directors and serves as the
legislative authority of the church between meetings of the ELCA's
Churchwide Assembly.  The council is meeting here Nov. 13-16.  Assemblies
are held every other year; the next is August 16-22 in Denver.
     "Operating results for the eight month period ended September 30,
1998, for the ELCA churchwide organization's budgeted operations compared
favorably with the same period a year ago and with revenue forecast and
expense budget," said the treasurer's report to the council.  "Non-budgeted
costs incurred in refinancing and reducing the mortgage loan on the
headquarter's building were also realized."
     "Income from congregations through synods in the form of mission
support totaled $41,136,000 compared with $39,105,000 the previous year, an
increase of $2,031,000.  Total revenue for the eight months of $50,289,000
increased $3,062,000 from the same period one year ago.  Operating expenses
related to these funds totaled $49,752,000, an increase of $683,000.  The
resulting surplus of $537,000 for the period before the refinancing
expenses compares with a deficit of $1,842,000 experienced in 1997.  Timing
differences in expenses relative to budget were a major factor in actual
expenses being favorable to budget by over $4,000,000.  It is anticipated
that total expenses for the fiscal year ended January 31, 1999, will be
considerably closer to budget," said the ELCA treasurer's report.

For information contact:
Frank Imhoff, Assoc. Director (773) 380-2955 or NEWS@ELCA.ORG
http://www.elca.org/co/news/current.html