wfn.org | Solution to Computer Problem Is Good News For GAC Executive

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Committee 
16-December-1998 
98435 
 
    Solution to Computer Problem Is Good News 
    For GAC Executive Committee 
 
    by Evan Silverstein 
 
LOUISVILLE, Ky.-Thanks to a little teamwork and patience, the General 
Assembly Council and the Presbyterian Church (U.S.A.) Foundation appear 
finally able to balance their balance sheets. 
 
    The GAC Executive Committee received that good news while meeting in 
Louisville, Ky., last weekend. It meant that for the first time, the GAC 
knew how much money it had received from its endowments in 1998. The money 
helps pay for the church's mission programs. 
 
    "We knew we had money in the bank, but we couldn't balance our 
checkbook," said GAC Executive Director John Detterick, who celebrated four 
months on the job last Sunday. 
 
    The problem stemmed from an incompatibility between computers after the 
endowments, which are managed by the Foundation, were moved from one bank 
to another earlier this year. 
 
    "We were not getting data [about earnings] in a form we could feed 
right in [to the GAC's computer] and balance, so we quit trying to work 
with [the Foundation] on formatting and just took the data and reformatted 
it ourselves and got a balance," Detterick said. 
 
    Detterick clinched his fist triumphantly during the executive committee 
meeting when Robert McKee, director of Mission Support Services, reported 
that balances had been confirmed for January and February. 
 
    The news signaled a turning point in accounting woes that have plagued 
the Foundation since at least the third quarter of the year. Earlier in the 
meeting concern was expressed that if the problem wasn't corrected by the 
end of the year it could lead to the church receiving a qualified audit of 
its financial records for 1998. 
 
    "I think we've got it now," said Foundation President Larry Carr, 
reacting to the news. He said by Tuesday the records for March were also 
balanced and, he thought, for April as well. 
 
    "As soon as January was set, the rest of it has flowed very well," he 
said. 
 
    Carr said solving the accounting problems has been the Foundation's 
number one priority since late in the third quarter. Before last weekend, 
he said, "we were playing darts in the dark. We'd turn the lights on and 
we'd see where the target was and then turn them off and throw the darts." 
 
    Detterick commended the efforts of the accounting staffs at the GAC and 
the Foundation for working diligently on the challenge. He said they worked 
very hard to interact in a collegial manner, despite the pressure of the 
very sensitive task. 
 
    McKee delivered more good news about the 1998 mission budget. He 
predicted that revenue for the year could exceed projections by as much as 
$1 million and expenditures could be under budget by as much as $1 million 
based on figures for the end of November. 
 
    The executive committee also: 
 
      * reviewed details of the 1999 mission budget, which was approved at 
        last summer's General Assembly. 
      * heard that former President Jimmy Carter would be unavailable to 
        speak at the pre-assembly conference in Ft. Worth next June. A 
        invitation has also been extended to Presbyterian astronaut and 
        U.S.  Senator John Glenn to speak at the Assembly. 
      * heard a capitalization request from the Presbyterian Investment and 
        Loan Program. The request will be consider by the GAC in February. 
      * engaged in discussion with Detterick about appropriate roles for 
        elected members of the GAC and staff. 

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