Basic HTML Version
)
-3-
,
,
budget, but will also greatly enhance future monies to be channeled
into first line priorities for Church-related activities.
Next, an unpredicted and unscheduled heavy income response was netted
by Mr. Herbert Armstrong's recent co-worker letter which has certainly•
been a boost to the June income figure, one day reaching the $358,000
level! Income in general has continued very good and is still
positive for the year, running approximately four percent above actual
for last year.
Also, Mr. Armstrong has directed the sale of certain peripheral
Pasadena campus properties that had been purchased for the future
expansion of the Pasadena academic complex. These have been put on
the market and for the most part have now been sold. These sales in
no way affect the main campus property. Add to this the fact that
Mr. Armstrong has put on the market for sale our feast sites at the
Ozarks, the Dells, and the Poconos as well as the Big Sandy campus.
Please note that this will not affect our fall Feast schedule in any
way.
The Citation aircraft, which we were recently instructed by Mr.
Armstrong to sell, was in fact sold this past Friday. This will not
only inject money into the cash flow of the Work, but will also
reduce operating expenses in Flight Operations.
Finally, I'm very happy to report that the Pentecost holy day offering
has been exceedingly good and will most likely reach our budgetary
projection of one million dollars. We expect the average will be
between $13.80 and $14.00 per person, which is a very good offering
and one for which our generous brethren should be thanked.
The budget for the 1978/79 period is shaping up very well. Finali
zation should be taking place in the next several weeks. As priorities
are adjusted and set by Mr. Herbert Armstrong, the resulting decisions
are being translated into income projections and budgetary impacts.
In light of all I have reviewed here with you, the financial outlook
for the Work looks very promising, of which the new program for
generating growth in the Church is the long-term key. Your continued
support of Mr. Herbert Armstrong and your positive encouragement of
the brethren will obviously be vital factors in our achieving maximum
results. Remember that the world still has a crying need for the
truth we have been given. So together let's rededicate our lives to
getting on with our Commission.
--Ray Wright, Financial Affairs
THE DIPLOMA PROGRAM In the wake of recent announcements establishing
the Ambassador College School of Biblical and Ministerial Studies, we
have received a number of questions about our Diploma Program. These
queries were not seeking clarification of facts, but rather focused
on the purpose behind the Diploma Program.
The Certificate Program has clear rationale in providing for the
e
continuing professional needs of the ordained ministry. The M.A.
Program has purpose as a vehicle for developing future leadership for
the Church. But why the Diploma Program?