A series of briefings for Synod members will be held in August prior to a Synod which Archbishop Jensen says will have to make tough decisions because of the financial crisis.

In a letter to churches last Sunday, the Archbishop began by addressing the Global Financial Crisis and noted that Australia had begun to experience unemployment at higher levels and referred to reports that New South Wales families are the hardest hit.

“I am aware that a number of our church members have to deal with the reality of job loss.  As I encouraged you then, even more so now, I urge each one of us to uphold those great biblical virtues of faith, hope and love. Let them mark our lives and witness to the society in which we live.”

Dr Jensen said it was within that context that he wanted to write, so that congregations would understand the impact of the crisis on the central diocesan finances.

He said the diocese had several years of high returns but that the need to repay investment debt had accentuated losses in the extraordinary market conditions at the end of 2008.

“Our investment position is now stable. All bank debt has been repaid, investment risks have been significantly reduced and our liquidity position is very strong. But the losses remain. All these circumstances have been reported during the first part of the year through the proper processes of our diocese, most notably to Standing Committee. Furthermore, a thorough independent review of our investment operations is underway.  But now comes the time when hard decisions will have to be made.”

But the Archbishop stressed that “....central funding is only a small proportion of the overall income of the diocese. Your congregation raises its own money to fund local ministry and the money you give to your church is not affected.”

The cutbacks will affect diocesan agencies and bishops and regional offices and will need to be dealt with via restructuring.

“It is a humbling experience,” the Archbishop said. “It is a reminder to me and to all of us of our dependence on the Lord in lean times as well as plenty.”

Dr Jensen said although ministries would be significantly affected, “..we do not need to be downhearted. The Lord still expects us to be engaged in a great endeavour to reach our cities for Christ, and he will supply all our needs. He has his plans and his timing.”

Dr Jensen called on congregations to pray for Synod representatives whom he says he will invite to a series of pre-Synod briefings in August.