Source: Orthodox Church in America
SYOSSET, NY [OCA] – The independent audit of the Orthodox Church in America’s financial records for the year ending December 31, 2012, conducted by the auditors Lambrides, Lamos, Taylor LLP, has been completed and is available on-line.
“For the third consecutive year the OCA has been issued an unqualified or ‘clean’ audit opinion,” said Melanie Ringa, OCA Treasurer. “The unqualified opinion is the best type of report an auditee can receive from the external auditor.”
Ms. Ringa also noted that “the financial results for 2012 show total revenues of $2,780,295.00, total operating expenses of $2,124,224.00, with a net surplus from operations of $656,071.00, prior to expenses related to depreciation and amortization and legal fees and All-American Council activities. After accounting for these charges, the final result for 2012 was a surplus of $495,878.00. Please note that this includes an accrual for two Unrestricted Bequests totaling $446,131.00, expected to be received in 2013. The net operating surplus without this bequest was $49,747.00.
“Our Statement of Financial Position shows total assets of $3,096,384.00, liabilities of $466,831.00, and net assets of $2,629,553.00,” she concluded.[subscribe2]