SBOM proposes $41.5 million 2005 ABSC budget

The State Board of Missions (SBOM) began drafting the 2005 Alabama Baptist State Convention budget during its Jan. 26 meeting in Tuscaloosa. Board members unanimously approved a $41.5 million budget goal for 2005, which is a 2.65 percent increase over the current budget.

SBOM Executive Director Rick Lance called the recommendation “conservative.” He said budget goals have to be conservative because of the difficulty of forecasting budgets a full 24 months in advance. He added that reachable Cooperative Program (CP) giving goals are important to the ministries supported by the offerings so they will know how to plan for the coming year.

In 2003, Alabama Baptists giving fell short of the CP base budget goal by $19,482. It was the first time in 10 years Alabama Baptists failed to reach their goal. The 2004 CP goal is the same as 2003- $40,427,480.

Goals for state CP causes and a CP challenge budget were also adopted. The 2005 state CP causes goal will be $500,000, the same as the current year. The CP challenge budget goal will be $42.5 million.

In related financial actions, board members agreed to lower the anticipated income from interest earnings for 2004 and to revise the distribution plan. The  new goal of $260,000, down from $300,000, will be divided between debt payment on the Baptist Building in Montgomery ($125,000), debt payment on Baptist Campus Ministry facilities ($100,000), missions partnerships ($25,000) and the Church and Law Center ($10,000).

Any funds beyond the goal will be divided evenly between mobile chapels and disaster relief.

The interest income goal for 2005 is $285,000 with the extra $25,000 going to missions partnerships.

Board members also learned that its New Work Committee approved assistance to church pastors’ salaries for five new churches and renewed support for 20 church pastors. In addition, grants totaling $32,000 for the purchase of property were awarded to three congregations.

Also, the board voted to move the 2004 annual meeting from the Montgomery Civic Center to Eastmont Baptist Church, Montgomery.

(TAB)