Exec. Committee approves budget, helps Union

NASHVILLE — Southern Baptist Convention (SBC) Executive Committee members approved a 2008–2009 Cooperative Program (CP) Allocation budget of $205,716,834 for recommendation to the SBC during its June 10–11 annual meeting in Indianapolis.

The budget continues traditional allocations to the convention’s ministries, including 50 percent of receipts to the International Mission Board and 22.79 percent to the North American Mission Board. The percentage allocated to the seminaries is 21.92 percent, up from 21.4 percent last year.

According to the seminary funding formula, Southwestern Seminary would receive 4.81 percent (up from 4.80 percent); Southern Seminary, 4.98 percent (up from 4.80 percent); New Orleans Seminary, 4.41 percent (up from 4.35 percent); Southeastern Seminary, 4.15 percent (up from 4.13 percent); Golden Gate Seminary, 1.81 percent (up from 1.74 percent); and Midwestern Seminary, 1.77 percent (up from 1.57 percent). Cumulative numbers may not match the sum of individual seminary percentages due to rounding.

The Ethics & Religious Liberty Commission would receive 1.65 percent of the budget, up from 1.49 percent last year, while the Southern Baptist Historical Library and Archives would continue to receive .24 percent.

The SBC Operating Budget, encompassing the SBC annual meeting costs, the work of the convention between annual meetings and the Executive Committee (EC), would receive 3.40 percent of the CP budget, up from 3.32 percent last year.

GuideStone Financial Resources President O.S. Hawkins announced last year that GuideStone would be willing to forgo the .76 percent of the CP Allocation Budget it had been receiving, and that percentage was redistributed in this year’s budget.

In other business, the EC:

• approved a 4 percent increase in the staff salary structure of the EC budget, effective Oct. 1.
• voted to give $100,000 to help Union University in Jackson, Tenn., rebuild from the devastating tornado that wrecked the campus almost two weeks earlier.

EC members watched a video presentation about the tornado striking Union’s campus, including not only an overview of the physical destruction but also testimonies from students and parents about God’s protection during the storm.