By Scott Barkley
Baptist Press
NASHVILLE — Executive Committee trustees approved two recommendations from the Committee on Convention Finances and Stewardship Development Feb. 22 to increase allocations up to $2 million each for legal fees and the ongoing investigation regarding claims of sexual abuse.
Committee chair Archie Mason brought both recommendations, explaining that the amounts will come out of operating reserves generated from allocations from Cooperative Program funds to the Executive Committee. Those reserves have been built over the years through investments and are currently approaching $15 million, with $12.2 million in unrestricted funds.
The allocation for legal fees will be monitored monthly by the Finances and Stewardship Committee. Permission to exceed $2 million would require further discussion and approval by the full Executive Committee. The recommendation passed unanimously. [Read more…]