Page 1 Report of the Trustees 2010
Page 2 Same Old Song (but updated for inflation) “Buddy can you spare $100,000.”
Page 3 Stock Market Blues This has arguably been the worst decade in the history of the stock market
Page 4 Stock Market Blues WCP Fund Value 2000$67,854, $51,179, $46,721, $38,346, $37,649,133
Page 5 Stock Market Blues At 5% draw, the bishop had available: $3,392,730
Page 6 Stock Market Blues For 2011, the bishop will have available: $1,747,292
Page 7 Conclusions The only way to balance a budget it to either increase income or decrease expenses.
Page 8 Conclusions Increase Income Working with EAI, we have changed investments for growth. We have reduced the draw from 5% to 4.5% over the years. We stand ready to receive the $100,000 that buddy can spare.
Page 9 Conclusions Decrease Expenses We have cut our contribution to COCL for 2011 by $140,000 We will reduce other line items to balance the budget. We are cutting into flesh and bone.
Page 10 Is There Any Good News? We have $1,747,292 to add to the work of the diocese in Yes!
Page 11 One Final Note Last year I spoke of a new program to help mission congregations with commercial mortgages. We still intend to offer this program. However, it probably will not be available until 2012 at the earliest.
Page 12 Report of the William Cooper Procter Fund Can be found online at the diocesan website: