Newly-appointed Treasurer of the Orthodox Church in America, Ms. Melanie Ringa, has issued her report of the OCA’s finances for the first nine months of 2009.
In her report, Ms. Ringa notes that “the results through September 30 show a surplus of $91,811.89 after mortgage principal payments. This reflects a positive variance of $34,260.85 from the budget.”
She also noted that “the revised budget as approved at the September 2009 Metropolitan Council meeting projected an operating surplus of $75,867 for 2009 after mortgage principal payments. Although our surplus for the first three quarters of the year was $91,811, we expect that this surplus will be reduced somewhat due to increased activity on pending litigation during the final three months of the year, with a final result close to the anticipated budget.”