The final executive committee of the year is often one of the least interesting, unless you are an accountant, because this is when the 2005 budget is presented and voted. But on Nov. 18 the committee voted a dramatic change — relocating the Western Adventist Foundation (WAF) from the Pacific Union office in Westlake Village to Phoenix, Ariz.
And who is WAF? Well, currently, WAF employs 16 trust management and estate planning professionals who work on the first floor of the union office. WAF now manages trusts totaling $130 million, and is growing rapidly. Their major clients, so far, include ADRA, Amazing Facts, Christian Record Services, It Is Written, the Pacific Union Association, La Sierra University, Pacific Union College, Union College, Walla Walla College, most of the conferences in the Pacific Union, other church organizations, and several Adventist hospitals, including White Memorial and Glendale Adventist Medical Centers.
WAF was created by the Pacific Union in 1997, but is separately incorporated and has its own board. That board, however, is appointed by the Pacific Union Executive Committee, which serves as the constituency for WAF.
The move was authorized for two main reasons, both of which relate to lower employee housing costs. First, lower housing costs will make it possible to hire the professionals WAF will need to effectively manage the growing funds, and second, lower employee costs will result in a better bottom line for WAF and no subsidy from the Pacific Union. After looking at the numbers, the committee unanimously approved the move.
Other Business
The WAF move was not the only important action taken. The committee voted to establish a separate audit review committee, rather than using the larger evaluation committee as in the past. Members: Bob Kyte (Pacific Press, chair), Luke Kolpacoff (Arizona), Ellie Kaanaana (Hawaii), Bruce Powers (Southeastern), and Ricardo Graham (Northern).
And, yes, the 2005 budget was voted, including nine pages of “Appropriations and Assessments.” Leon Sanders, union treasurer, pointed out that 74 percent of the union budget is forwarded directly to conferences and colleges. Eighteen percent is used for union functions and administration, and two percent finances the Recorder. Sanders reported that the tithe to date for 2004 is 3.5 percent higher than 2003.
Attorney Michael Peabody was approved as associate director of Public Affairs and Religious Liberty. Peabody, who replaces Brad Newton, will assist Alan Reinach as church liaison in Sacramento.
The committee approved the ordinations of six ministers: Arthur Branner and Chris Guadiz (Northern); Samir Salmanovic (Southeastern); and Aivars Ozolins, Gustavo Squarzon and Rogelio Paquini (Southern). They also approved a ministerial scholarship for Michael Hope (Nevada-Utah) and a doctor of ministry program for Kenley Hall (Northern).
Several appropriations were approved, including $20,000 to support the Los Angeles Missions, $70,000 to upgrade the SOULS West leadership, and $16,000 to help fund the cost of a Hispanic recruiter/trainer (the remaining $34,000 will come from the Evangelism Endowment Fund). Another $7,000 was voted for Nevada-Utah’s Magabook program, and $6,000 to the Livingston/Madera Spanish church for their mission project to Tixla, Guerrero, Mexico.
Capital improvement appropriations were voted for Central Valley Spanish in Arizona ($3,000) and Lincoln Heights in Southern California ($5,000).
As usual, the committee approved loans from the Church and School Loan Fund and the Income Fund: $17,000 to Springerville, Ariz.; $49,900 to Visalia, Calif.; $140,000 to Burlingame, Calif.; and $130,000 to Fresno Central. Though no loan was requested, the committee approved a $5,760,000 building project at Camp Wawona, part of Central California Conference’s capital campaign.
