news article
2024 CVA Allocation Update: A testament to stewardship and faith
May 6, 2025 / By Bob Flask, Conference Treasurer / .(JavaScript must be enabled to view this email address)
At the 2024 Upper New York Annual Conference (UNY) session, conference members passed a resolution to allocate $7.8 million from the Child Victims Act (CVA) costs to the reserved fund for the UNY Board of Pension and Health. At that time, UNY was conducting the 2023 annual audit, leading auditors to allocate this cost to the operating year of 2023 based on incurred expenses and completed settlements.
Initially, concerns arose about allocating such a significant amount to this fund, with projections suggesting a three to four-year recovery period. However, I am pleased to report that through prudent financial stewardship, the entire $7,800,000 were recovered within 2023, surpassing expectations.
Factors Contributing to the Recovery
This achievement was possible by the following revenue streams:
- Unfunded pension liability payments from disaffiliating churches, totaling over $2,600,000.
- Pre-82 surplus at Wespath, applied to cover the CRSP DB payment of $1,300,000.
- Favorable investment returns, generating over $4,300,000 in 2023.
In total, these revenues exceeded $8,500,000, providing the necessary financial support to fully cover all Conference Board of Pension and Health liabilities and absorb the entire CVA allocation for 2023. This outcome is a blessing to the UNY Conference and strengthens the net asset funds of the Conference Board of Pension and Health.
Testament to Faithful Stewardship
"I thank God for the faithful witness of the United Methodists of UNY, who in 2024 affirmed a path forward rooted in healing and justice, guided by the recommendations of the CVA Taskforce commissioned by the Conference Leadership Team. Together, we stepped forward in faith, trusting God’s provision. These bold actions stand as a testimony to what is possible when we embody our calling as United Methodists—committed to justice, compassionate leadership, and unwavering faith. Through God’s grace and the dedication of so many, we have seen firsthand the power of trusting in God’s sufficiency, even in times of challenge," said Bishop Héctor A. Burgos-Núñez, Resident Bishop of the Upper New York Conference.
"God is good...all the time. All the time…God is good. I will be the first to admit that I was concerned about such a large withdrawal from the funds that sustain both current and future retirees. But we stepped out in faith, with the annual conference’s blessing, and found that the faithful stewardship of resources by past and present boards enabled us to help those who had been harmed—without compromising the well-being of those who serve. Thanks be to God," said Karyn McCloskey, Chair of the UNY Board of Pension and Health Benefits.
Click here to access the UNY 2023 audit, which reflects this remarkable recovery.
Click here to read the original recommendation as featured on pages 28-29 in the 2024 UNY Pre-Conference Workbook.