The Presbyterian Church (U.S.A.), A Corporation, received an unmodified opinion on the audit of its 2024 financial records, according to a report released by the auditing firm Cherry Bekaert. This marks the highest level of opinion the firm issues, indicating that the church’s financial records are in good order and free from material errors.
Key Findings from the Audit Report
- Total net assets rose from $731 million in 2023 to $766 million in 2024.
- Total contributions were slightly up from the previous year, with $51.8 million in 2024 and $50.6 million in 2023.
- About $36.4 million of 2024 contributions came with donor restrictions.
- Investment return was down from $65.5 million in 2023 to $52.3 million in 2024.
Despite the decrease in investment return, the report noted that it was still a “really strong” performance.
IT Infrastructure Improvements
The PC(USA) is partnering with Build Consulting to provide interim leadership and analysis for the newly established IT Infrastructure Department. The team, led by interim Information Technology director Peter Campbell, has identified numerous areas where savings can be realized.
| Recommendations | Description |
|---|---|
| Migrating documents to SharePoint and Teams | Reducing complexity and improving security. |
| Moving fully to the cloud | Reducing network management workload, saving money, improving security, and simplifying remote access. |
Build Consulting has found that security is “comparatively strong, but can still be improved,” and that PC(USA)’s core applications are already in the cloud, but there are still 40 servers and a storage network in place.
Digital Strategy and Information Systems
Vicente Guna, who coordinates Digital Enterprise Solutions, presented on digital strategy and information systems. He identified four main functions:
- Application development
- Business analysis
- Data
- Education and training
The focus over the next two years will be on ongoing, independent initiatives; applications development; and data infrastructure and engagement. The second quarter of 2025 includes work on completing active development of pcusa.org and the Presbyterian Giving Catalog.
Closed Session Discussions
The board met in closed session to discuss personnel, property, and security matters.
According to a statement from the board, “The Presbyterian Church (U.S.A.) is grateful for the expertise and professionalism of its auditing firm, and looks forward to continuing to work with them in the future.”
In conclusion, the Presbyterian Church (U.S.A.) has received an unmodified audit opinion, indicating that its financial records are in good order.
news is a contributor at itdit. We are committed to providing well-researched, accurate, and valuable content to our readers.
