Shaky Economy Costs General Conference Millions of Dollars

An unsteady global economy shaved 20 percent off the income received by the General Conference last year, and church leaders are reworking budgetary plans as they prayerfully seek to navigate the uncharted waters ahead. While tithe and offerings remained strong worldwide in 2015, exchange-rate losses linked to the fluctuationsadventist-spring-meeting-april12-2 of regional currencies against the U.S. dollar cost the General Conference, the administrative body that oversees the Seventh-day Adventist Church, a total of $19.4 million.

“My fears that were presented in October actually came true,” General Conference treasurer Juan R. Prestol-Puesán said in an interview…

The General Conference would have had $19,441,294 additional income this year if 2015 exchange rates had remained the same as in 2014, according to the treasury report to the Spring Meeting. In another loss, the variability of financial markets cost the General Conference a total of $2.8 million in capital and unrealized gains in 2015. Those investments had represented a gain of $2 million in 2014.  Source

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