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| Sept. 2 Cut-off May Affect CP Totals |
| Release Date: 07/14/2008 |
LOUISVILLE – Churches intending for their August 31 Cooperative Program gifts to be counted in the 2007-2008 fiscal year will need to make special arrangements to ensure their gifts are received by the Sept. 2 deadline, said KBC Executive Director Bill Mackey.
Mackey said that because the last Sunday in August falls on the last day of the month, churches need to have their receipts postmarked prior to August 31, and those gifts need to be received by the Kentucky Baptist Convention by Sept. 2 in order to be counted in a church’s 2007-2008 giving totals.
“It’s important that we receive all August CP gifts by September 2 so we can accurately report what each church contributed to the Cooperative Program in this fiscal year,” said Mackey.
“We are encouraging churches to send in their August 31 check early to avoid reporting confusion. To be safe, churches probably need to mail it mid-week before the August 31 Sunday,” he said.
Gifts received after Sept. 2 will be counted toward the 2008-2009 fiscal year budget totals. The fiscal year runs September through August each year.
According to Mackey, August CP receipts need to be postmarked by the last business day in August every year and received by the first business day in September. Since Labor Day falls this year on Sept. 1, the deadline for receipts to be received by the KBC is Sept. 2.
“This is important not only for church reporting, but also for the ministries that depend on funds budgeted for the current fiscal year. If we don’t meet budget, funding for these ministries would be cut back,” said Mackey. “We’re needing good receipts in August in order to meet budget, or to at least come close to it.”
With just two months left in the 2007-2008 fiscal year, Cooperative Program giving totals through June are now behind budget by 2.4 percent, according to Lowell Ashby, KBC Business Services Team leader.
Ashby said June CP receipts totaled $1,824,716. So far this fiscal year, churches have given a total of $19,523,077 through CP, which leaves total receipts 2.4 percent, or $476,923, behind budget.
"I believe our churches realize we are investing in bold and exciting ministries through the Cooperative Program, and I am hopeful that we can overcome the deficit together to fully support these ministries,” said Billy Compton, executive associate for Cooperative Program and resources.
Ashby noted that $4,476,923 is needed throughout the remainder of the 2007-2008 fiscal year in order to meet budgeted projections. For that to be achieved, just over $2.2 million would need to be received in both July and August.
The annual budget for CP in the 2007-2008 fiscal year is $24 million.
While giving is behind budget for the current fiscal year, the $19,523,077 received year-to-date is $310,469, or 1.6 percent, above the $19,212,608 received over the same period in the 2006-2007 fiscal year, he said.
The Kentucky Baptist Convention is a cooperative missions and ministry organization made up of more than 2,400 autonomous Baptist churches in Kentucky. A variety of state and worldwide ministries are coordinated through its administrative headquarters in Louisville, Ky. including: missions work, disaster relief, ministry training and support, church development, evangelism and more. For more information, visit www.kybaptist.org.
Release prepared by Kristie Randolph, KBC Communications |
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