United's Financial Statements Again Reflect God's Blessings

by Tom Kirkpatrick, Treasurer

On this two-page spread you will see a copy of the audited financial statements of the United Church of God, an International Association, and the audit report of our independent auditors—Clark, Schaefer, Hackett and Co. of Cincinnati, Ohio, for the fiscal year that ended on June 30, 2006 [see PDF version]. You will also see an accompanying table that summarizes the year-to-year changes in certain key financial indicators.

Once again, we received an "unqualified" opinion on the fairness of the financial statements in reflecting generally accepted accounting principles—the sort of opinion we are pleased to receive. In this context, the term "unqualified" refers to the absence of any expression by the auditors of concern as to the continued viability of the Church, or any failure of the statements to represent generally accepted accounting principles.

We give thanks and honor to God for providing for the financial soundness of the Church. It is by His grace and mercy that we have what we have. We also thank the brethren and others who support the work of the Church for their faithfulness and generosity in tithes and offerings.

Starting from what appeared to human eyes to be a very precarious financial condition a little over 10 years ago, the Church has now been allowed to come to the place where it has a certain measure of financial stability and strength. In the year covered by these statements, we were able to reach at long last the goal of having a minimum of 10 weeks of operating expenses in unencumbered reserves at the low point of the year.

Having met the reserve goal, the Church now is able to devote additional resources to certain mission-critical areas, increasing the budget in those areas by an even greater percentage than the percentage increase in income.

The Council, administration and all operational personnel understand keenly the need for God's continual guidance and help in using the resources that He makes available in a way that will please Him and represent His will. All of us ask for this wisdom and guidance, and for the prayers of the brethren to that end. UN