For the first time in over three months the increase in income is “double digit” again! The November increase was 11.7%. Year-to-date is now 10.5%. This is still below budget, but it is an encouraging trend.
Last month I mentioned we did not know the actual amount of increase for the final Holy Day offering because excess festival tithe was included in the offering this year. The amount of increase for that Holy Day offering was almost equal to the amount of excess festival tithe the previous year. At the present time the combined Holy Day offerings and festival contributions are 5 .3% more than the combined figure for last year. This is, however, almost 7% less than the 12% anticipated in the budget. This should be a fairly accurate comparison of the change in 1985 for these contributions.
You have probably read in Mr. Armstrong's recent letters about decisions made necessary because of lower than expected income. These decisions resulted in reducing the number of pages in “The Plain Truth" and lowering the circulation of the newsstand issues for awhile. Also, a number of less effective TV stations have been canceled. These changes, plus a “no-increase” budget for nearly all departments, make cash-flow projections positive for 1986. They also indicate a return to January 1985 reserve levels by the end of 1986. We are hoping that the income will increase enough so that sufficient reserves can again be set aside during the months of “plenty" to carry us through the "lean months,” much like what Joseph did in Egypt.
REPORT FROM THE TREASURER'S OFFICE
Worldwide Church of God