Finance News

Trustees and CF&A unanimous in support of AC22 recommendation to reduce pension liabilities for disaffiliating churches CF&A review shows CTC finances/pension plan secure going forward with updated policy Updated policy to only reduce pension liability portion of exit costs for disaffiliating churches – no funds to be paid to churches leaving the UMC Updated Disaffiliation Exit Costs expected to be available by early August Acting as swiftly as possible following the conclusion of the...

 Jeff Roper to retire effective July 1; Great Plains Treasurer & Director of Administrative Services Scott Brewer to also provide strategic oversight coverage for CTC Finance & Administration Team May 24, 2022 Bishop Ruben Saenz Jr., resident bishop of the Central Texas Conference of The United Methodist Church has announced that Jeff Roper, executive director of the Roberts Center for Leadership and Administration/Conference Benefits Officer has decided to retire at the end of June. Scott ...

As circumstances regarding a proposed legal settlement by the Boy Scouts of America (BSA) regarding ongoing litigation involving alleged sexual misconduct in scouting continue to evolve, Bishop Lowry issued the letter below to the clergy and Trustee chairs of the CTC directing all churches, faith communities and ministries of the Central Texas Conference to end all chartering agreements with the BSA by Dec. 31, 2021 and establish a Facility Use Agreement (FUA) if the church chooses to maintain ...

Sept. 15 - Wespath has released information regarding updates to the Public Service Loan Forgiveness (PSLF) Program that creates an opportunity for clergy and other faith-based, non-profit employees to potentially have certain student loans forgiven. Effective July 1, 2021, eligibility rules for the Public Service Loan Forgiveness (PSLF) Program have been changed. This change creates a new opportunity for clergy members and other employees of not-for-profit organizations engaged in faith-based ...

Changes in UMIP Designed to Benefit Local Churches Jeff Koch, President and CEO of United Methodist Insurance Program (UMIP) has announced that the revised Minimum Insurance Requirements for local church property insurance coverage were approved by the General Council on Finance and Administration (GCFA) board in November. The UMIP Board has notified its current insured customers of the change. These most recent changes, as well as changes made in May 2019, further enhance ways churches valuate ...

The Central Texas Conference Service Center (CTCSC) will be closed for the Christmas and New Year’s holidays from Dec. 22 – Jan. 1. The CTCSC will resume normal business hours at 8:30 a.m. Tuesday, Jan. 2. If you have an emergency and need to reach a member of the CTC Service Center when the CTCSC is closed, call 817-994-0139 or e-mail CTCSC@ctcumc.org. 2017 End-of-Year Giving Remittance Schedule Refer to the timetable below as you plan your church’s year-end remittances to the Conference ...

Time is Running Out on 2017 - Share the Following Giving/Tax Saving Tips With Your Church Today!  Many Americans who are more than 70 1/2 years old have Individual Retirement Accounts (IRAs) that force them to take a required minimum distribution (RMD) each year. However, very few of them know that rather than taking that RMD themselves (and paying taxes on the money withdrawn), they can give that RMD directly to a charity (like your church) and avoid paying any taxes on the withdrawal.  ...

The Central Texas Conference Service Center (CTCSC) will be closed Dec. 23 – Jan. 2 for the Christmas and New Year’s holiday . The Service Center will resume normal business hours at 8:30 a.m. Tuesday, Jan. 3. If you have an emergency and need to reach a member of the Service Center when the CTCSC is closed, call 817-994-0139 or e-mail CTCSC@ctcumc.org.   2016 End-of-Year Giving Remittance Schedule. Refer to the timetable below as you plan your church’s year-end remittances to the Conference ...

The Department of Labor (DOL) recently announced its changes to the Fair Labor Standards Act (FLSA) “white collar” overtime exemption rules. The final rule strengthens protection for workers by increasing the standard salary level for qualification for overtime exemption from $455 per week ($23,660 per year) to $913 per week ($47,476 per year). Practical implications of these rules are: Churches and other employers should carefully review the employment classification of all staff to ...

The IRS has extended the due date for mailing Form 1095-B to individuals for 2015 tax returns to March 31, 2016. As part of Section 6055 Reporting under the Affordable Care Act, Form 1095-B verifies the “individual mandate” for minimum essential health coverage.   The IRS Form 1095-B verifies the Affordable Care Act (ACA) “individual mandate” for minimum essential health coverage. The General Board of Pension and Health Benefits (GBOPHB) will be issuing Form 1095-B, for the conferences covered ...

Louisiana Conference Remembers the CTC with a Generous Disaster Relief Donation Give and it will be given to you. A good portion – packed down, firmly shaken, and overflowing – will fall into your lap. – Luke 6:38 CEB   One of the blessings of the United Methodist Church is found in the first word of the denomination’s title. United is defined by one online dictionary as “involving people or groups working together to achieve something – a group combined or connected together to make one.” The “...

UMDATA.ORG replaces General Minutes as UM stats resource The General Council on Finance and Administration (GCFA) is announcing that general statistical information about the church, formerly contained in the printed General Minutes, is now available at www.umdata.org. The IT and Data Services Departments of GCFA, working throughout the connection, collects statistics and has developed a free, online resource that anyone can use to access public information about local churches. Because of the ...

On Wednesday, Feb. 4, Anthem, Inc., the largest of the Blue Cross and Blue Shield plans, disclosed that its databases that store employee and customer data had been breached by hackers causing concern for anyone who is insured by Blue Cross and Blue Shield. According to Shawn-Marie Riley, benefits administrator for the Central Texas Conference UMC, participants in the Central Texas Conference HealthFlex plan were not affected.   “We heard from GBOPHB [General Board of Pension and Health ...

Vanco Services, a leading provider of electronic payment solutions, has announced an expansion of its strategic sponsorship with the General Council on Finance and Administration (GCFA). The multi-year sponsorship marks a significant increase in the electronic giving program that has been in place since 2002 when GCFA first approved Vanco as the administrator for the United Methodist Electronic Funds Transfer (UM EFT) program. The program, which began as a way for churches to receive regular ...

Pastors, Church Treasurers, Business Administrators and other Leaders:  The IRS has a new regulation that requires any organization with an EIN (Employer Identification Number) to notify the IRS when the “Responsible Party” changes.  As many of you know, any organization with its own bank account and payroll has an Employer Identification Number (also referred to as EIN or Tax Id." The EIN works like an identifying Social Security number for organizations and businesses.    To obtain an EIN, an ...

2013 Giving Remittances need to be to the CTCSC by Jan. 8 Please see the schedule below as you plan your church’s year-end remittances to the Conference Service Center. These dates apply to both Connectional Mission Giving and all remittance giving, including Special Day offerings and Advance Specials.  Christmas Week –       Service Center closed Dec. 24-27 Monday, Dec. 30 –        Last Day to mail (Priority Mail) Tuesday, Dec. 31 –      Service Center closed Wednesday, Jan. 1 –   Service ...

For more than two years, the General Council on Finance and Administration (GCFA) has been tracking a federal court challenge brought by Freedom From Religion Foundation (FFRF) to declare the tax-favored housing benefits for clergy portion of Section 107 of the tax code unconstitutional. On Nov. 21, a federal district court judge in Madison, Wisconsin held that portion of Section107 ofthe tax code to indeed be unconstitutional.   Specifically,the court held that Section 107(2), which permits ...