In 2027, General Synod’s revenues are expected to remain essentially flat while expenses are expected to continue to decline, treasurer Beng Wee told the Council of General Synod (CoGS) at its Nov. 6-8 meeting.
Revenues in 2027 are budgeted at $8.5 million, a decrease of $453,000, or 5.0%, from actual revenue in 2025, according to the budget report Wee presented to CoGS. Total expenses are budgeted at $9.1 million for 2027, a decrease of $316,000, or 3.3%, from the forecast for 2026. Compared to 2025 actual numbers, budgeted expenses for 2027 represent an 18.9% decrease, driven mainly by structural changes achieved in 2026, the budget report said.
The deficit of revenue over expenses before transfers was anticipated to decrease from $2.3 million in 2025 to $959,000 in 2026, and it is budgeted to decrease further to $612,000 in 2027. This deficit will be partially funded by a four-per-cent drawdown from investments in the amount of $540,000. In 2025, CoGS approved the drawdown of up to four per cent per year from its investments to cover expenses during the period of change ahead.
The balance of the deficit in 2027 will be funded through a CoGS-approved drawdown of $365,000 for the transformation task force and a transfer of $82,000 from the Ministry Investment Fund to support the archives of General Synod. As a result of these withdrawals, the budget report anticipates a surplus of $375,075 in 2027.
At the November meeting, CoGS also adopted a new policy on spending, in response to a General Synod 2025 resolution. It requires CoGS approval before any unbudgeted expense of two per cent or more of the annual budget.
