2. Financial Report Thank you
For the churches that continue to support MC Canada in its work of Formation, Engagement and Missions
For the individuals who go above and beyond in offering additional financial support
For the many volunteers and staff that give of their time and resources to keep things working

3. Financial Report Key Points in 2016 Audited Financial Report
Donation and Bequest Revenue down $280,134
Bottom Line Loss at $652,127
This is a combination of the following
Planned budget loss (around $85K)
Full severance expensed in current year (around $250K)
Loss incurred due to revenue decrease/expense incurred

4. Financial Report 2016 Financial Review Original Budget
Revenue as previous year actuals
Expenses hold steady and only account for cost of living and assembly
Cover the budgeted loss (around $85K) from general funds

5. Financial Report 2016 Financial Review Responsive Action
Oct 2015 showed a $190K revenue deficit
Nov 2015 revenue deficit more than $300K
GB directed the Executive Director and CAO to come up with a plan
Result – Staff layoffs and expense reduction where possible

6. Financial Report 2017 Budget Revenue Budget based on 2016 Revenue
Engagement/Formation Budgets lower with staff layoffs
Witness not effected by layoffs but expected to lower budget for 2017 and further for 2018.
Achieved partially with non-replacement of returning personnel and decrease in funding of programs with no Canadian personnel involvement.