Treasurer’s REPORT

“And all the tithe of the land, whether of the seed of the land, or of the fruit of the tree, is the Lord’s: It is holy unto the Lord.” Leviticus 27:30

Major Treasury Happenings in 2017 Spring 2017 Hired Jackie Gauthier as office assistant/accountant Summer 2017 Switched from Lake Union software to AASI (Adventist Accounting Software International) general ledger software, used in most of NAD and SAD. Summer 2017 Began using ACH debits as a means of transferring remittance funds from churches to conference.

CHART: Northern New England Conference –Tithe

CHART: Northern New England Conference use of Tithe for the Year 2016: Total=$5,717,998 ***This chart only shows how tithe was spent in 2016. It is no indicator of exactly how tithe will be spent in future years.

CHART: Northern New England Conference –Advance Offering

CHART: Northern New England Conference Budget Offering Allocation 2017 Total=$73,625

CHART: Other Funding Sources

How Education is Funded, Avg. Teacher Cost ~$82,404

Pine Tree Academy Dorm Option Tuition for a Non-constituent student is $10,105 per year. It is possible to apply for some worthy student funds in many cases. Dorm Fee is $5,200 per year. NNEC has a dorm subsidy for NNEC members of $2,860 per year which reduces the dorm cost to $2,340 per year; This is close to the cost of food for a year.

Major NNEC Endowments Knight PTA Worthy Student Endowment $20,000/yr Wheeler Worthy Student Endowment $12,000/yr Legare Worthy Student Endowment $3,000/yr Conrad Worthy Student Quasi-Endowment $2,000/yr Rangeley Quasi-Endowment $25,000/yr Note: The first four are for worthy students; the last one is for NNEC funding of outdoor education and youth camp expenditures.

treasury.nnec.org

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