CBF council reports significant revenue shortfall

DECATUR, Ga. — Halfway through their fiscal year, leaders of the Cooperative Baptist Fellowship (CBF) were informed of a significant revenue shortfall for the organization during the CBF Coordinating Council meeting Feb. 16 in Decatur, Ga. Undesignated receipts were 13.2 percent below the year-to-date budget, according to a financial summary of the six months ended Dec. 31, 2006. That budget itself had been revised downward from an earlier adopted budget. In order to address an anticipated revenue shortfall, council members instituted a plan last fall to operate at 90 percent of the original 2006–2007 budget.

All told, CBF’s undesignated revenue for the first six months of the fiscal year totaled $5.9 million, compared to the budgeted amount of $6.8 million. Including designated gifts, the fellowship’s total revenue for the first half of the fiscal year was $8.5 million. CBF expenditures for the same period were $10.3 million, resulting in a net loss of $1.8 million for the period.