Messengers meeting during the June 13–14 Southern Baptist Convention (SBC) annual meeting in Phoenix approved a 2017–2018 Cooperative Program (CP) Allocation Budget of $192,000,000.
The budget maintains current allocations to the convention’s ministries, including 50.41 percent of receipts to the International Mission Board (IMB) and 22.79 percent to the North American Mission Board, for a total of 73.20 percent allocated for world missions ministries.
The convention’s six seminaries will receive 22.16 percent. The seminary enrollment formula for funding will be: Gateway Seminary, 2.11 percent; Midwestern Seminary, 2.93 percent; New Orleans Seminary, 3.72 percent; Southeastern Seminary, 4.03 percent; Southern Seminary, 5.17 percent; Southwestern Seminary, 3.96 percent; and .24 percent to the Southern Baptist Historical Library and Archives, a ministry overseen by the seminary presidents. (Cumulative numbers may not match the sum of individual seminary percentages because of rounding.)
The budget designates 1.65 percent to the Ethics & Religious Liberty Commission. The SBC Operating Budget, the only CP-funded facilitating ministry, encompassing SBC annual meeting costs and the work of the Executive Committee (EC), will receive 2.99 percent.
Operating budget
Additionally, messengers amended the formula for distributing any overage of gifts above the CP Allocation Budget to increase the IMB’s portion from 51 percent to 53.4 percent and decrease the SBC Operating Budget portion from 2.4 percent to 0 percent.
An SBC Operating Budget of $7,450,000 for the 2017–2018 fiscal year also was approved.
During the EC report June 13, Tommy Green of the Florida Baptist Convention presented a gift of $3,136,500 to the SBC.
The CP gift, from the sale of the Florida convention’s former building, was 51 percent of $6.15 million received from the sale of the former Baptist Building in downtown Jacksonville, which was completed June 7.
The 51 percent allocation is in keeping with the convention’s CP budget that sends 51 percent to the CP and retains 49 percent for Florida Baptist ministries.
EC recommendations adopted by messengers included appreciation for Jim Wells, the SBC’s outgoing registration secretary who is battling cancer, and establishing a process for selling the SBC Building in Nashville in the event of a significant offer.
Another recommendation authorized IMB to move to an Oct. 1–Sept. 30 fiscal year. The Lottie Moon Christmas Offering emphasis also will change to that schedule. (BP)
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