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PASTOR GENERAL'S REPORT, JANUARY 15, 1982
PAGE 5
Our bank reserves at the end of the year were substantial and adequate and
much improved over a year ago, but it is still necessary to use great care
in how the funds are used in order to continue in a sound financial condi
tion.
Many new radio and television stations were added in 1981, and PLAIN TRUTH
circulation increased to above 4,000,000 worldwide for the first time ever.
Also, as a direct result of the increase, Mr. Armstrong was able to approve
cost-of-living (or larger) salary increases for most employees.
The 1982 budgets were submitted some weeks ago to Mr. Armstrong and
approved.
With this approval, we have a balanced budget with a projected
increase to reserves.
However, there are still some minor adjustments,
especially in the international area, that we need to discuss with Mr.
Armstrong. The budget provides for approximately a 40% increase in media
and immediate support areas, while most other budgets were set at near a 10%
increase.
I am including an income graph so that you might better understand what has
happened to the income of the work over the past 21 years, as compared to
actual purchasing power.
These figures include total mail income, plus
holy day offerings. The solid line represents the actual income stated in
dollars for each year. However, to see the effect of inflation, the dotted
line shows the same income deflated using the Consumer Price Index (CPI),
with the base year for the CPI being 1960. You can see the buying power of
the Work over the years stated in constant dollars using the value of the
dollar in 1960.
The CPI is a statistical measurement of average changes in the purchasing
power of the dollar. It includes prices for only a fixed "market basket"
group of approximately 300 goods and services purchased by the average U.S.
family. These prices are averaged with each item weighted to reflect its
importance in family spending.
SCZI
70
S'21
2.CZ,
l. '21
TOTAL MAIL INCOME RECEIVED
TOTAL MAIL INCOME ADJUSTED USING COMSUMER ?RICE
(Base year = 1960)
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WORLDWIDE CHURCH OF GOD
MAIL INCOME
Pasadena , California
January 13, 1982
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