The good news is that the 2012 budget deficit is not as bad as expected.

The bad news is that the 2012 budget deficit is not as bad as expected: like a temporarily resuscitated zombie, the ACoC will stagger on for a few more years than is decent.

From here:

An early, unaudited draft of General Synod’s financial results for 2012 expects a lower than anticipated budget deficit for 2012, the financial management committee (FMC) has said in its written report submitted to the Council of General Synod (CoGS).

Although final results are not yet certain pending a completed audit, FMC said, “It is reasonable to expect that the deficit will be in the neighbourhood of $100,000.” A deficit of $287,680 had been forecast for that year.

However, “although 2012 will likely end up more favourably than anticipated four months ago, the outlook for 2013 has not changed,” said the report submitted by committee chair, Rob Dickson. The fall meeting of CoGS had approved a “transitional budget” with a deficit of $513,000.