November 1, 2022 | Punta Cana, Dominican Republic | Inter-American Division News

Seventh-day Adventist leaders should always remember that church members are partners with God in the financing of the church’s mission, said Inter-American Division (IAD) treasurer Filiberto Verduzco, in introducing his Treasurer’s Report at the 2022 IAD’s year-end meetings from Punta Cana, Dominican Republic, October 31. “Church members have set up the platform that allows for the fulfilling of our mission,” Verduzco said. “And each one of them is an agent chosen by God for the salvation of their neighbors.”

During his report, Verduzco called IAD Adventist leaders to remember the key role a sound stewardship plays in the funding of the church’s mission, and how church members expect a great level of transparency from their leaders as they deal with God’s monies.

The key role of stewardship

“Stewardship is the foundation of the spiritual framework that sets forth the environment to funding the church’s mission,” Verduzco said. “And it should be oriented to the church member, who funds the mission of the church.”

IAD Treasurer Filiberto Verduzco speaks to committee members during the annual Year-End Executive Committee Meetings on Oct. 31, 2022, in Punta Cana, Dominican Republic. [Photo: Daniel Gallardo/IAD]
Verduzco explained that stewardship should be seen as “a spiritual strategy, a promoter of trust, a communication tool, a quantitative measurement of the financial environment, and the opportunity to understand how God’s economy works.”

Against that background, the IAD treasury functions is to develop and establish the strategy that helps the financial system function in an orderly manner. “Stewardship and treasury must work together as an inclusive ministry for strengthening the financial system in the IAD territory,” Verduzco said. In fact, he added, the IAD “is committed to creating and strengthening an environment of transparency and accountability as a strategy for the fulfilment of the mission.”

Members expect transparency

Verduzco reminded IAD church leaders that church members give their tithes and offerings with confidence to finish the task in the IAD territories and beyond. It is one of the reasons why the IAD is committed to creating and strengthening an environment of transparency and accountability as a strategy for the fulfilment of the mission.

Committee members listen to IAD Treasurer Filiberto Verduzco  during his report on Oct. 31, 2022. [Photo: Daniel Gallardo/IAD]
“We are dedicated to the task of strengthening the Church Financial System, taking care of the Lord’s property and interests,” said Verduzco. “This is only possible in an environment of transparency, credibility, accountability, and trust while making decisions using tithes and offerings. This is our task as church administrators.”

Verduzco quoted General Conference Treasurer Paul Douglas, who emphasized that “leaders in each organization are the persons who set the tone at the top of that culture as it relates to integrity, ethical values, stewardship, and transparency.” Transparency and accountability mean security for all actors in the fulfillment of the mission, and especially for church members, who look at how we make decisions when using tithes and offerings, said Verduzco. “Creating an environment of transparency is everyone’s responsibility.”

From local to global support

In the last part of his report, Verduzco shared about the Adventist world church initiative that invites church regions not only to focus on their local needs but to think globally. It is something, he said, that might lead to repositioning the investment priorities of the funds provided by each member’s faithfulness.

Winston Hiciano, treasurer of the Dominican Union pays attention to the treasurer’s report on Oct. 31, 2022. [Photo: Daniel Gallardo/IAD]
“The church member is the sole one investor in the mission of the church, being responsible locally but also looking to the farthest corners of the world,” Verduzco explained. In this regard, “what kind of decisions must we make to be partners with them in the global stewardship of tithes and offerings, being locally responsible, but looking at the global challenge?” he asked.

Verduzco acknowledged that so far, leaders in Inter-America had been immersed in their own needs, taking care of the region’s needs in unreached places within their territory. However, he added, “in our strategic planning, we need a mission strategy that force us to go beyond our borders to reach other faraway places. If, through 100 years now, we have been blessed, it is time to share our blessings with those who need our help.”

Financial report

In addition to his report, Verduzco asked Ivelisse Herrera, undertreasurer of the IAD, to present the financial report.

Herrera reported that unions had been sent 114 percent more funds as appropriations than last year.

Ivelisse Herrera, undertreasurer of the IAD presents part of the financial report during the executive committee meetings, Oct. 31, 2o22. [Photo: Daniel Gallardo/IAD]
“The minimum working capital according to the IAD policy is 12 months and for the month of October 2022, the working capital is 24 months,” said Herrera. In addition, she stated that: “the minimum liquidity recommended by the IAD policy is six months and by the months October 2022, the liquidity is 13 months.”

As the operating budget for 2023 was presented, Verduzco stated that some reserve funds would be used to cover part of the operating budget if the estimated income is not fully received.

Executive committee members voted to accept the Treasurer’s Report, Financial Report, the Operating Budget for 2023, and the Compensation Review Committee Report.