GCFA Board Approves Episcopal Fund Revisions for 2022
Monday, June 27, 2022
GCFA Board Met and Approved Episcopal Fund Revisions for 2022
Nashville, Tennessee – The Board of Directors of the General Council on Finance and Administration (GCFA) held its monthly board call June 24, 2022.
Rev. Sheila B. Ahler, on behalf of the Committee on General Agency and Episcopal Matters (GAEM), presented a recommendation for a compensation plan for sixteen active Bishops serving in vacated Episcopal Areas, in addition to their existing responsibilities, and who had, to date, not received any remuneration for their additional ministry responsibilities.
The Board approved a stipend, retroactive to the start of each Bishop’s additional assignment, representing 11% of their monthly compensation. The impact of the Episcopal Fund will be approximately $345,000 and is 11% of cumulative costs savings resulting from the vacancies resulting from retirements and leaves. As a result of the vacancies, the Episcopal Fund has seen cost reductions of approximately $3.1 million, related to salaries and benefits for the vacant Episcopal areas. Today’s vote is applicable only to current vacancies due to these unusual times; the monthly stipends will expire December 31, 2022.
“The GCFA Board wishes to recognize the service and sacrifice these dedicated clergy have made, answering the call of the Church selflessly. These dedicated servants have spent extra time, in some cases for eighteen months, away from their families, to live out their faith in service. We are so grateful and wish to thank them for their willingness,” Rev. Sheila B. Ahler, GAEM committee member said.