From the Worldwide Faith News archives www.wfn.org
40 Restricted Funds Distributed;
From
PCUSA.NEWS@pcusa.org
Date
01 Mar 1998 18:02:48
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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phone 502-569-5504 fax 502-569-8073
E-mail PCUSA.NEWS@pcusa.org Web page: http://www.pcusa.org
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