Report of the
Board of Directors of BFC
The Board of Directors of the BFC held four regular meetings to attend to corporate business related to Annual Conference, to agencies, and to churches.
The Board provided oversight, advice, and assistance in respect to fiscal, legal and property acquisition and disposal as follows: Annual Conference, medical insurance, administrative budget, Board of Church Extension and churches.
After experiencing decline in membership and finances for a considerable period of time the membership of Calvary BFC of Scranton voted to dissolve as a church during this conference year. The Board of Directors and the Delegate of the church are working together to carry out the sale of real estate deeded to the Calvary Bible Fellowship Church.
American Insuring Group, LTD, continues as agent of record for BFC sponsored health insurance plans. Policy holders with questions or concerns should contact Mr. David Ross, who administers the program for American Insuring Group, LTD. Mr. Charles Lavigna serves the Board of Directors as Medical Insurance Coordinator and liaison with Mr. Ross. He is available to churches as needed.
The legal suit against BFC and others, filed in Dutchess County, NY, almost three years ago was settled during the year, and the Board of Directors borrowed money from Quakertown National Bank to fund the settlement. This money will be reimbursed to BFC by the Holmes Church upon the sale of property owned by that Church, which is under agreement of sale at the time of this report. Settlement will likely take place before the 123rd Annual Conference.
In Summer of 2004, it was necessary for the Board of Directors to borrow $23,000 from the Real Estate Fund as an emergency measure to satisfy a financial shortfall experience by the “One Voice” event. As mandated by regulations adopted by Annual Conference, the Real Estate Fund was fully reimbursed for these borrowed funds. The debt was reduced in 2005 by contributions from churches and individuals. The remaining $8,749.77 debt to the General Fund will be liquidated through the Conference Administrative budget over the next three years.
All funds are deposited in Wachovia Bank. Accounts were reviewed by Linda K. Yuill.
We recommend that the 123rd Annual Conference adopt the following:
1. Resolved, that the rate of mileage reimbursement for conference business conducted in 2006 be 27¢ per mile, effective May 1, 2006.
2. Resolved, that the Administrative Budget for January 1, 2006 to December 31, 2006 be adopted.
3. Resolved, that the Administrative Budget for January 1, 2007 to December 31, 2007 be approved for submission to the churches for their pledges.
Pledges for the 2007 Administrative Budget shall be received by the Financial Secretary by September 1, 2006.
Board of Directors of BFC: Randall A. Grossman, President; Carl C. Cassel, Vice President; David J. Watkins, Secretary; Horace A. Kauffman, Financial Secretary; Robert W. Gehret, Treasurer; Charles A. Lavigna, Hospitalization Secretary; Raymond R. Dotts, L. James Roberts, Jr., Gregory A. Uhrich.