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Church records $777,000 deficit
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Anglican Journal
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September 1, 2008
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Copyright informationCopyright Anglican Church of Canada Sep 2008. Provided by ProQuest LLC. (Hide copyright information)
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Residential schools refund prevents much larger loss
Mississauga, Ont.
The national office of the Anglican Church of Canada has reported a deficit for the fifth straight year in 2007, with a shortfall of $777,195; the amount is $290,768 more than the loss recorded in 2006 of $486,427.
The deficit would have been $1.97 million had General Synod not received a refund last year of $1.17 million from the federal government as part of the revised Indian Residential Schools Settlement Agreement, the financial statements showed. The statements reported revenue of $13.68 million, and expenses of $14.46 million.
General Synod treasurer Peter Blachford said there were a number of reasons for the ...
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