A new study claims that almost one in four U.S. churches spend over their budget. The survey, conducted by Lifeway Research found that 22 percent of churches exceeded their budget for the 2014 fiscal year.
In addition, the study found that 46 percent of churches met their budgets. A mere 29 percent of surveyed churches kept their spending below budget The Christian Post reports.
Scott McConnell, Lifeway Research Director said, "The most recent of recession revealed poor habits among Americans in term of spending and lending. Surely churches have had to learn some of these same lessons."
"The current slow-growth economy does not allow individuals, businesses, or churches to slip into poor financial habits that may have been present seven or eight years ago. Everyone must be innovative in how efficient and productive each of their activities is,” McConnell continued.
The study surveyed 1,000 pastors, ministers and priests.
Publication date: November 6, 2014