Many people are aware that there was an important meeting of the BMS Board of Trustees last Friday relating to the previously announced restructuring plan affecting our UK operations.
That meeting was held in the light of BMS receiving notification of a large legacy, after the initial plan had been announced.
In summary, trustees concluded that the legacy gives BMS more time to explore how we can significantly reduce the current operating deficit of £300,000 per year. Trustees therefore agreed to set aside the planned restructuring to allow that process to take place, and will reconsider the position in 12 months time.
BMS World Mission Restructuring
A special meeting of BMS trustees and directors was convened on 15 August 2008, in order to discuss the proposed BMS restructuring plan which had been announced on 26 June. The meeting was called in order to prayerfully consider the impact of a major legacy notified to us shortly after the restructuring announcement had been made.
The restructuring was initially announced because BMS has averaged a £300,000 deficit in each of the last three years, and that is still expected to remain the case for next year, 2009.
The Board recognises that the legacy, which may amount to £750,000, is a wonderful answer to prayer. Although a legacy is a one-off gift and not a source of regular additional income, nonetheless it allows time to consider whether new options become available over the coming year. Importantly, it also enables us to step back from what previously seemed an unavoidable decision to make a number of posts redundant.
As a result the Board took the decision not to proceed with the current proposal to make posts redundant.
BMS trustees and staff will continue to take steps over the coming 12 months to re-examine our costs and structures, and maximise income. The Board will formally review the position in the summer of 2009.
The Board affirms its determination to see that BMS lives within its means and maximises the resources spent on world mission. The coming year already presents us with exciting new mission opportunities, as well as the development of existing work. This must remain our first priority at all times.
Mark Craig, BMS Director for Communications commented: "We are delighted that this legacy gives us time to address our financial deficit over a longer time scale than had been available to us. This is a task for all of us - BMS home staff, our mission workers, and our supporting churches. Even this morning we have been praying for the safety of our workers in Afghanistan, and the arrival in the last 24 hours of new mission workers in Africa and Latin America. This is what BMS is about, and we are determined to resolve our financial position, to allow us to refocus all our efforts on our mission work".