GCFA Board Meets Virtually for Summer Quarterly Meeting
Monday, August 23, 2021
GCFA Board Summer Board Meeting Held Virtually
Nashville, Tennessee – The Board of Directors of the General Council on Finance and Administration (GCFA) held its quarterly meeting virtually on August 20, 2021.
Rev. Steve Wood, Chairperson of the Committee on General Agency and Episcopal Matters (GAEM) presented several recommendations for approval by the Board. The committee presented information about a defined benefit plan that was established in 2009 for employees surviving spouses of the Evangelical United Brethren (EUB) denomination.
The plan has fulfilled its obligations and to fulfill its responsibilities to manage general Church funds with greater transparency, the Board approved the distribution of these funds to the Oklahoma Indian Missionary Conference (OIMC) in support of its salary, pension, and benefit costs. Rev. Dr. David Wilson, Assistant to the Bishop of the Conference said, “We are so thankful to the General Council on Finance and Administration for the generous donation to the Oklahoma Indian Missionary Conference. These funds will further the work of the dedicated clergy of our conference who serve God and the people of OIMC with great love and service.”
As the United Methodist Book of Discipline requires the Board to review episcopal salaries each year, one recommendation was a salary increase of 4% in 2022 for bishops. The last pay increase was in 2019, and the PPP (Paycheck Protection Program) grant received by GCFA on behalf of the Episcopal Fund will cover the additional cost of the salary increases for over 3 years. The Board also approved a recommendation from GAEM to leave the housing allowance and office grant at the 2021 level.
Separately, the board adopted a resolution authorizing General Secretary and Treasurer Moses Kumar to have the authority to (1) act on behalf of GCFA in contracting with a representative to assist in the sale, lease and/or development of GCFA’s 1 Music Circle North and 6 and 8 Music Circle South properties, (2) to solicit offers related to the same, and (3) to negotiate and establish a lease for new headquarters space.
The next scheduled meeting of the Board is December 1, 2021.