Resolved, the House of Bishops concurring,

<Amended text as it would appear if adopted and concurred. Scroll below the line of asterisks (*****) to see the version showing all deleted and added text.>

That the 80th General Convention adopt the 2023-2024 budget for The Episcopal Church, as presented by the Joint Standing Committee on Program, Budget and Finance, at total income of $100,493,452 and total expenditures of $100,493,452; and be it further,

Resolved, That the assessment formula (Canon I.4.6(b)) for the period January 1, 2023 through December 31, 2024 is adopted based on a single assessment of each diocese. In each year, 2023 and 2024, the diocesan total adjusted operating income, as reported in the annual diocesan financial report (Canon I.4.6(j) and Canon I.6.4) for the year two years prior to the year to which the assessment is applied [e.g., 2023 assessments are to be based on 2021 actual income figures], shall be reduced by a $200,000 exemption. A single assessment shall be applied to the remaining amount (balance) at a flat rate of 14.75%; with any additional income to be funded by line 11c of the 2019-2021 budgetary surplus from short-term reserve, and be it further, 

Resolved, that the 80th General Convention directs Executive Council to create a budget using a reduced assessment rate for the 2025-2027 Episcopal Church budget to be considered at the 81st General convention, and be it further, 

Resolved, that the 80th General Convention asks Executive Council to set a plan for lowering the diocesan assessment to 10% by 2030, and be it further,  

Resolved, that the Executive Council prioritize Racial Justice, Evangelism, Creation Care, and support for marginalized communities, when creating the budget for the next triennium, and be it further, 

Resolved, That the 2023-2024 Episcopal Church budget shall be adjusted and managed as set forth in the Canons, Rules of Order, and Executive Council policies and procedures.

*****************************************************************************************

<Proposed amended resolution text showing exact changes being made:>

That the 80th General Convention adopt the 2023-2024 budget for The Episcopal Church, as presented by the Joint Standing Committee on Program, Budget and Finance, at total income of $100,493,452 and total expenditures of $100,493,452; and be it further,

Resolved, That the assessment formula (Canon I.4.6(b)) for the period January 1, 2023 through December 31, 2024 is adopted based on a single assessment of each diocese. In each year, 2023 and 2024, the diocesan total adjusted operating income, as reported in the annual diocesan financial report (Canon I.4.6(j) and Canon I.6.4) for the year two years prior to the year to which the assessment is applied [e.g., 2023 assessments are to be based on 2021 actual income figures], shall be reduced by a $200,000 exemption. A single assessment shall be applied to the remaining amount (balance) at a flat rate of 15% 14.75%; with any additional income to be funded by line 11c of the 2019-2021 budgetary surplus from short-term reserve, and be it further, 

Resolved, that the 80th General Convention directs Executive Council to create a budget using a reduced assessment rate for the 2025-2027 Episcopal Church budget to be considered at the 81st General convention, and be it further, 

Resolved, that the 80th General Convention asks Executive Council to set a plan for lowering the diocesan assessment to 10% by 2030, and be it further,  

Resolved, that the Executive Council prioritize Racial Justice, Evangelism, Creation Care, and support for marginalized communities, when creating the budget for the next triennium, and be it further, 

Resolved, That the 2023-2024 Episcopal Church budget shall be adjusted and managed as set forth in the Canons, Rules of Order, and Executive Council policies and procedures.