The first quarter of 1985 is now history, and although the income has not reached expectations, it is still quite good. The year-to-date figure is 10.8% more than 1984, with March registering a slightly lower increase of 10.2 %. These figures would be lower if it were not for Festival contributions (tithe of the second tithe), which were 35.4% more than last year! It is somewhat surprising that the general contributions are less than expected, while the Festival contributions are more than expected.
The departments have been working together to keep expenses below budget. As a result, our cash balances, though low, are slightly above projections. We have passed the projected low point for the year and are expecting the trend to be upward from now through the remainder of the year. However, the departments must still be careful with expenses so we do not repeat last year's overspending during the summer.
The Arthur Andersen auditors are continuing their audit of our financial records. The U.S. audit is a little ahead of schedule, and is now being reviewed by the partner assigned to that audit. Several of the international areas have had their audits completed and the figures are being combined for the worldwide audit. The international audit is right on schedule. Our accountants say that the audit process this year has been the "smoothest audit ever."
This Thursday (April 4), my wife and I will leave for a quick "Feast" trip to the Caribbean. We will be visiting the San Juan office and the churches in Jamaica, Puerto Rico, Barbados, Trinidad and Martinique. We are very pleased to have this opportunity and pray that we and all of you will have a spiritually beneficial and inspiring Feast of Unleavened Bread.
REPORT FROM THE TREASURER'S OFFICE
Worldwide Church of God