Foursquare 2011 Financial Report
Chief Financial Officer Ron Thigpenn announced a balanced budget, and is looking forward to a surplus in 2011.
Chief Financial Officer Ron Thigpenn has engineered a remarkable turnaround in our ability to both gauge and steward our financial responsibilities.
Local church loan and insurance delinquencies continue to be concerns, and those areas are being addressed; however, we have made tremendous gains in reversing deficit spending and replenishing our reserves.
We have reduced our annual operating core budget by more than 21 million, and that has taken us to pre-2004 spending levels. We can now celebrate ending 2010 in the black in regard to our core operations, which is funded by the tithe.
The projected 2011 budget is balanced, a fact that reinforces our commitment to a lean structure. There are still areas that need strong management and oversight, but The Foursquare Church has turned a significant corner with its finances.