CBF finishes fiscal year 15 percent behind budget

ATLANTA — The Cooperative Baptist Fellowship (CBF) ended its fiscal year $2.1 million short of its 2010–11 budget goal of $14.5 million in total revenues, controller Larry Hurst reported to the CBF Coordinating Council on Oct. 21. Anticipating a shortfall, Hurst said staff limited expenditures to 85 percent of budgeted amounts.

The finance committee proposed a $12.3 million budget for 2012–13, the same bottom line in the current 2011–12 spending plan. Staff will develop next year’s budget proposal for review by the finance committee and vote by the council in February. Hurst said undesignated revenues in 2010–11 totaled $6.8 million, 18 percent below budget projections of $8.25 million. The offering for global missions took in $4.6 million, 16 percent short of an offering goal of $5.5 million.