2008 Lambeth Conference Faces $3 Million Shortfall
12/29/2005

With less than three years remaining before the opening session, the 2008 Lambeth Conference is facing a potential cash shortfall of more than $3 million. Funding for the once every 10-year gathering of bishops from around the Anglican Communion is administered by the Anglican Consultative Council (ACC). The ACC administers two funds to finance the Lambeth Conference.

The audited financial statements for the year ending Dec. 31, 2004 report the value of the Lambeth Conference Designated fund at £679,727 ($1.2 million). The Lambeth Conference Restricted fund was valued at £582,627 ($1 million). Both funds experienced significant increases in their net asset value over the year due to prudent financial management. The rest