Report of the Board of Directors of the Bible Fellowship Church

              The Board of Directors of the Bible Fellowship Church met at four regular meetings and a special meeting to attend to the corporate business related to Annual Conference Agencies and Churches.

              The Board provided oversight and advice in areas of fiscal, legal, property acquisition and disposition in the following areas:

Annual Conference: Blue Cross/Blue Shield Medical Plan, Administrative Budget and Board of Pensions

Agencies: Church Extension, Bible Fellowship Homes, Inc., Pinebrook Junior College Property.

Churches: Allentown, Salem; Edison, NJ; Englishtown, NJ

              The following have satisfied their mortgage and notes: First Baptist Church of Belvidere, NJ; Dudley, MA; Holmes, NY; Kutztown; Newark, DE and Victory Valley.

              The Board has completed transfer of titles of Manor and Home to Bible Fellowship Church Homes, Inc. in accordance with approval granted at the 107th Annual Conference.

              The sale of Pinebrook Junior College Campus continues to be an urgent matter of prayer. Although there is an interested buyer, the Board has not been successful in completing an Agreement of Sale as of the writing of this report.

              We recommend that the 111th Annual Conference adopt the following:

              1).          That the rate of mileage reimbursement be increased from $.20 to $.22 per mile.

              2).          That the Administrative Budget for January 1, 1995 to December 31, 1995 be adopted.

              3).          That the following revisions be made in the Faith & Order: (First Reading)

                            a.           The Board of Directors of the Bible Fellowship Church, page 145, Article V: Miscellaneous Regulations. Section 1. Primary place of business. The primary place of business of the Corporation shall be the current address of the Secretary of the Board of Directors listed in the current Yearbook.

                            b.           The Board of Directors of the Bible Fellowship Church page 143, Section 3. Delete; “Ministers’ Retirement Fund and ” . . . ” . . . the Ministers’ Retirement Fund of the Bible Fellowship Church, as well as”

Section 3. Should read as follows: Insurance Programs. It shall have oversight of all insurance programs established by Annual Conference.

                            c.           That the Administrative Budget material pages 152, 153 be revised as follows:

Section 3. Administrative Budget

              I.            Preparation of the Budget. At Annual Conference the Board of Directors of the Bible Fellowship Church shall present a proposed budget covering expected expenses for the next conference year. The budget will include the following items:

Publication and Printing

Conference entertainment

Beneficiary Fund

Ministers’ Retirement Fund

Moving Fund

Expenses for board and committee business

Other expenses of the Board of Directors

Ministerial Conventions

Ministers’ Assistance Fund

Ministerial Candidate Committee Fund for Internships

              II.          Subscription of the Budget

                            A.          By September 1, following Annual Conference, each Church and Agency, through its delegate or an alternate officer, shall forward to the Financial Secretary of the Board of Directors his pledge of the amount it will contribute toward the proposed budget.

                            B.          The Board of Directors will review the pledges received and bring the budget into balance with the total pledged.

                            C.          The Board will distribute by January 1 to each Church and Agency a report of the total amount subscribed and the budget as revised.

                            D.          Should the budget be under subscribed, opportunity will be given to each church and agency to increase its pledge. Notice of increase should be forwarded to the Financial Secretary by March 1.

                            E.          At its March meeting the Board of Directors will bring the budget into balance for presentation to Annual Conference.

              III.         Adoption of the budget. The recommendation of the Board of Directors will be presented to the Annual Conference for approval. Increases in pledges or alterations to budgeted expenses may be proposed prior to adoption.

              IV.         Payment of Pledges

                            A.          Pledges to meet these budget needs should be considered as binding as any other vow made before the Lord.

                            B.          Payments shall be made in advance annually, quarterly or monthly.

                            C.          All payments shall be completed by December 31, prior to the next Annual Conference.

              Further revisions to the Faith & Order, Page 102, g. Administrative Budget

Delete: October to August, August 31

                            Revise: January to December, December 31

Board of Directors of the Bible Fellowship Church: Jansen E. Hartman, President; Carl C. Cassel, Vice-president; Harvey J. Fritz, Jr., Secretary; Horace A. Kauffman, Financial Secretary; Robert W. Gehret, Treasurer; James A. Beil, Hospitalization Secretary; Bert N. Brosius, Jay H. Fasnacht, L. James Roberts, Jr.