Convention Booklet 2024 FINAL (01-22-2024)

The Diocese of Southwestern Virginia 2024 SUMMARY OPERATING BUDGET

2024 Proposed Budget

2024 Mission Asking

2023 Budget 2023 Actual

INCOME Total Current Year VPG Pledges Total Other Operating Income

962,914) 71,300)

912,810) 105,608)

1,066,036)

996,465) 115,700)

124,500)

TOTAL INCOME

1,034,214)

1,018,419)

1,190,536)

1,112,165)

EXPENSES Total Mission Initiatives

118,472)

102,629)

106,100)

105,154)

INSTITUTIONAL:

Institutional - Staff

1,083,429)

1,044,781)

1,107,151)

1,102,130)

Institutional - Canonical Institutional - Organization Institutional - Evans House TOTAL INSTITUTIONAL

172,850) 282,932) 92,850)

188,547) 273,442) 128,109)

172,150) 309,419) 127,200)

172,150) 305,759) 123,900)

1,632,061)

1,634,880)

1,715,920)

1,703,939)

Diocesan Institutions

29,000)

21,750)

37,000)

29,000)

TOTAL EXPENSES

1,779,532) (745,319)

1,759,259) (740,840)

1,859,020) (668,484)

1,838,093) (725,928)

NET OPERATING INCOME/LOSS NET OTHER INCOME/EXPENSES

745,673)

741,054)

668,490)

726,027)

NET INCOME/LOSS

354)

214)

6)

100)

Glossary: Summary Budget: The official budget approved by Convention that summaries all income and expenses. Detail Budget: Budget that shows more specifics about the summary budget's income and expenses. Mission Asking: Budget based on parishes pledging the full VPG ASK, and expenses budgeted at desired levels. Proposed Budget: Budget proposed by the Executive Board based on actual pledges and adjusted expenses. Mission Initiatives : Expenses related to diocesan mission and ministry activities. Evans House Expenses : Expenses connected to the diocesan office including utilities and maintenance. Staff Expense: Staff compensation including benefits, business expenses, travel, and continuing education. Canonical Expenses: Expenses required or encouraged by canon law including Annual Convention, diocesan audit, and trainings. Organization Expenses: Expenses not required by canon but related to organizational support of mission. Diocesan Institutions: Ministerial support for Diocesan Institutions.

Other Income: Operating support from investments, designated funds, trusts, and insurance proceeds. Other Expense (Reserve Funds) : Funds set aside annually for expenses that do not transpire every year.

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