Clarification received on report to the Metropolitan Council

SYOSSET, NY [OCA Communications] — At their meeting of September 28-29, 2006, members of the Metropolitan Council received and discussed a report from Lambrides, Lamos, Moulthrop LLP, the accounting firm presently engaged by The Orthodox Church in America.

In the ensuing discussion, it it was noted that an unrestricted bequest was received and deposited in the general account of the Church, but was not included in the report.

After the meeting, the accounting firm prepared a revised report, the text of which follows.

“We have compiled the accompanying statement of budgeted income and expenses of The Orthodox Church in America for the six months ended June 30, 2006 in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.

“A compilation is limited to presenting in the form of financial statements information that is the representation of management. We have not audited or reviewed the accompanying income statement, and accordingly, do not express an opinion or any other form of assurance on it.

“An effort resulting in the understatement of previously reported Voluntary Support & Bequests for the Six Months Ended June 30, 2006 was discovered by management of The Orthodox Church in America. Accordingly, an adjustment has been made to Voluntary Support & Bequests for the Six Months Ended June 30, 2006 to correct the error as reported to the Metropolitan Council on September 28-29, 2006.”

The revised report is presented by viewing the link below.

A nine month report will be reviewed when the Metropolitan Council meets on November 9-10, 2006, according to Acting Treasurer, V.Rev. Paul Kucynda.

View the document