From the Virginia Episcopalian, newsletter of the Diocese of Virginia:
One feature of the 2008 budget
that will be new for delegates is
the cost of litigation to protect and
preserve Episcopal Church real
and personal property from being
appropriated for non-Episcopal
Church uses. In 2007 the Executive
Board authorized the treasurer to
open a $1 million line of credit to
cover anticipated legal expenses for
the near-term. That line has since
been increased to $2 million and
about $1 million has been accessed.
As a result, the 2008 budget features
a debt service line item of about
$80,000. In addition, the Executive
Board pre-authorized diocesan
officials to consider contracts for
the sale of non-strategic diocesan
real property.
January 2008, p. 3
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