REPORT OF THE TREASURER OF THE DIOCESAN TRUSTEES

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Presentation transcript:

REPORT OF THE TREASURER OF THE DIOCESAN TRUSTEES 136TH Council of the Diocese of the Northeast & Mid-Atlantic of the Reformed Episcopal Church November 3 & 4, 2016 St. Stephen’s, Eldersburg, MD

NEMA Financial Review 2013 through September 30, 2016 Financial Position Statement of Ordinary Activities Operating Budget & Account 2017 Proposed Operating Budget

NEMA Financial Position – Assets

NEMA Financial Position – Assets

NEMA Financial Review Current Asset Allocation The Strategic Solution Too heavy in mortgages, a source of fixed income Current investment account focus is on interest & dividends at “low risk” The Strategic Solution Convert mortgages to other asset classes for investment Implement a growth-oriented investment strategy Short-term actions possible while strategy is in development Jesus the Good Shepherd – Sale in process for December 1, 2016 after 3 delays Asset reallocation in Fidelity investment accounts – On hold until JGS sale closes, NEMA Strategic Investment Plan is developed & NEMA is able to assume mortgage administration

NEMA Financial Position – Assets

NEMA Financial Position – Assets

NEMA Activities – Revenue

NEMA Activities – Expenditures

NEMA Activities – Net Change in Assets

NEMA Activities – Net Change in Assets

NEMA Operating Budget Account Receipts

NEMA Operating Budget Account Expenditures

NEMA Operating Budget Account Receipts

NEMA Operating Budget Account Receipts in Excess of Expenditures

NEMA Operating Budget Account Expenditures

2017 Recommended Budget Diocesan Operation - Receipts

2016 Recommended Budget Diocesan Operation – Disbursements

2016 Recommended Budget Diocesan Operation – Disbursements