Resolves of the Executive Council

Resolved, That the Executive Council endorses the "Proposal for a Philippine Episcopal Church capital fund accumulation program," presented by the Joint Committee on the Philippine Covenant; that proposal being for future support of the Philippine Episcopal Church, with the intention to enable the Philippine Episcopal Church to achieve fiscal autonomy over a fifteen year period in which there is (1) reduction in Episcopal Church funding in three steps, (2) an annual stepped reduction in use of the Episcopal Church for program purposes and a planned program of fund accumulation by the Philippine Episcopal Church and (3) mutual accountability in the monitoring of this program; and be it further

Resolved, That the Executive Council recommends the projected funding levels to its successor Councils, to the Joint Standing Committee on Program, Budget and Finance, and to General Convention, as a priority commitment for program funds.