With 51 of the Episcopal Church’s 110 dioceses having submitted pledge estimates by the Jan. 27 cutoff, the treasurer is predicting that the financial impact from the controversial General Convention votes on sexuality last summer would be $3 million in 2004. The reduction, which represents approximately 6 percent of the overall budget, according to Kurt Barnes, is almost entirely due to diversion or withholding of financial assessments.

The reduction is well below what nay-sayers and doom-sayers were predicting last August, he said. “Speaking in investment banking terms, the reduction is almost not material. The overall budgets have been reduced 4 percent. However the ministries that General Convention voted to focus on, like youth ministry, are continuing.”

Mr. Barnes briefed Executive Council, which functions between General Conventions similar to a national church vestry, at the council’s meeting Feb. 9-12 in Tampa, Fla.

Diocesan commitments are expected to provide 61 percent of national church revenue this year. Income from investments of $10.6 million is expected to contribute a further 23 percent, with revenue from government contracts generating $4.3 million or 10 percent of income, and revenues from Episcopal Life, Episcopal Parish Services and the Episcopal Bookstore in New York generating about $2.7 million.