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Committee Chairperson: Bob Swartzendruber          Sec'y-Treas: Janice Berger
The income report and recommendations for year-ending December 31, 2007.

         INCOME
                                                 Total dividends $ 14,431.74
         Total long term & short term Capital gains $ 22,534.03
                                                    Total Income $ 36,965.77
          Less mgmt Service fees for 2007 Mr Buffer -3,983.13
                                                                         $ 32,982.64
            Less dividends paid Committees & groups -1,071.37
                                   Balance 2007 Income for $31,911.27
                            These funds available for disbursement in the year 2008

THE ENDOWMENT COMMITTEE RECOMMENDS DISTRIBUTING THE 2007 INCOME:

Capital Gains of $ 11,911.27 be retained/reinvested in additional assets.
(The committee wishes to keep in mind the general plans to use 4-5% of
Asbury Endowment assets so to leave enough in the portfolio to realize income out into the future.)

($ 22,534.03 less $ 11,911.27 = 10,622.76 to disburse in 2008)

$ 10,622.76 THE BALANCE of the Capital Gains allocated/disbursed
$ 9,377.24 Dividends to be allocated/disbursed
$ 20,000.00

Disbursement Allocation of the Income:
$ 845.31 ------ General Budget
$ 14,903.48 ---- Applied Scholarship
$ 4,247.21 ---- (Schmelzer/Eash/Erb/Blumenstein income)for use in areas:
MISSION / local people projects;
TRUSTEES projects: major repairs/improvements and special objects or furnishing; and
PROGRAM DEVELOPMENT/ENHANCEMENTS:
including Education/communications, Evangelism and Worship.
$ 4.00 ---- Mother's Day Music/church. NOT ALLOCATED this year
____________
$ 20,000.00

Scholarship recommendation of Funds available up to $ 16,706.24.
The scholarship funds available are:
$ 3,474.55 The ASBURY SCHOLARSHIP
$ 3,510.42 THE RUEGSEGGER SCHOLARSHIP
$ 544.50 ERMA M RUGG SCHOLARSHIP
$ 9,176.77 LELA M GOODWIN SCHOLARSHIP
___________
$16,706.24
Donors wishes and Endowment Resolutions give us guidance in using Gifts.

The church committees may bring their plans/written presentation for using funds to the Church Council. The funds to be used for non-recurring expenses of church not regularly budgeted. And no principal or income funds to be used for apportionments assessed to the church by the Annual Conference. Funds may be accumulated by the trustees or church council for specific projects with approval of the church council.