Lifeway board of trustees approves $217 million budget for coming year

The board of trustees of Lifeway Christian Resources recently approved a $217 million budget for the 2021–2022 fiscal year that includes a net operating loss of $5 million.

While leaders anticipated an $8 million loss for the 2020–2021 fiscal year, Lifeway president Ben Mandrell reported to the SBC Executive Committee during its Sept. 20–21 meeting that the entity will likely finish the year at breakeven or better.

Lifeway has a positive cash flow of around $10 million because employees have done a good job managing expenses, he shared with the Executive Committee members.

To read more from the Lifeway trustee meeting in August, click here.

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Lifeway board of trustees approves $217 million budget for coming year