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From the article posted below: Episcopal Dioceses & Parishes Face Worst Financial Crisis Since Great Depression - Part V

In the DIOCESE OF CENTRAL NEW YORK, The Rt. Rev. Gladstone B. Adams III told his diocese that while many have experienced the sudden decline of personal assets, the Diocese has not been immune to these same setbacks. "Clergy and vestries throughout the Diocese are cutting costs where there is no place to cut, all the while trying to balance budgets and keep their important missions and ministries active. The Board, too, has made drastic cuts to the Diocesan budget, including a freeze on all hiring. The Finance and Investment Committee had to make the difficult recommendation to the Board to lower the return on investments in the Central Investment Fund 2. The Diocese is also adversely affected as some parishes are finding they cannot fulfill their pledge and assessment promises."