Christine Dodson provided an overview of the presentations of the financial reports proposed in the Conference Workbook.
The first report presented was from the Council on Finance and Administration (CFA), presented by Chairperson Anne Lloyd. The report included a 2025 budget proposed at a 24.52% decrease from the approved 2024 budget. Lloyd noted the Council’s commitment to present a budget that does not exceed the current apportionment levels of churches remaining United Methodist, so that apportionments of disaffiliated churches would not be added to the churches that remain.
A motion was made to add $205,000 for NC UM Camp & Retreat Ministries and $120,000 for the Methodist Home for Children to the 2025 budget proposal. The motion was approved to be referred to CFA for consideration, with a report back to the body on Saturday morning. The rest of the report was approved, which included no increase in salary for district superintendents for 2024, but does include increases to moving expense reimbursement limits for clergy moving due to appointment changes.
Other financial report highlights included:
- Approval of the report of the Insurance Committee recommending continuing with the Wespath HealthFlex insurance plan for active clergy and lay employees with a 6% premium increase for both churches and participants
- Approval of the Board of Pension report, including a 2.52% increase in the pre-1982 service year rate (increased to $855) and a 3% increase to retiree health insurance reimbursement accounts with a maximum funding level of $4,306 per participant (actual payment based on years of service at retirement)
- Approval of the report of the Commission on Equitable Compensation, including a 3% increase in the minimum salary for 2024, resulting in a minimum salary for full-time pastors of $49,770 and 65% of that ($32,351) for student pastors.
- Approval of the report of the Joint Committee on Clergy Medical Leave with no changes in policy or benefits as presented in the Conference Workbook