Strong July CP Receipts Narrow Deficit 08/15/2008 LOUISVILLE – While record July receipts helped narrow the deficit, Cooperative Program receipts remain 0.9 percent behind budget with one month left in the 2007-2008 fiscal year. In order to meet the fiscal year budget of $24 million, August receipts will need to total at least $2,192,070, said Lowell Ashby, KBC Business Services Team leader. Ashby said July receipts totaled $2,284,853, the highest amount ever received in any July month. So far this fiscal year, churches have given a total of $21,807,930 through CP, which leaves total receipts 0.9 percent, or $192,070, behind budget. While giving is behind budget for the current fiscal year, the $21,807,930 received year-to-date is $774,060, or 3.7 percent, above the $21,033,870 received over the same period in the 2006-2007 fiscal year, he said. "The Cooperative Program is about connecting people to Christ by meeting physical and spiritual needs around the world. Because the stakes are so high and the resource challenges for CP ministries are always present, it is truly encouraging to experience the continued generosity of our Kentucky Baptist churches,” said Billy Compton, executive associate for Cooperative Program and resources. KBC Executive Director Bill Mackey noted that churches intending for their August 31 Cooperative Program gifts to be counted in their 2007-2008 giving totals will need to make special arrangements to ensure their gifts are received by the Sept. 2 deadline. 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. “Due to the weekend and the Labor Day holiday, we are recommending that churches send in their CP gifts by August 28 to ensure they will arrive by September 2,” 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. 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. Release prepared by Kristie Randolph, KBC Communications