Clarification COCorrection for 6/10/92
The following are clarifications to an article on the financial position of The First Church of Christ, Scientist, in Boston, Mass., published in the June 10 Monitor.Skip to next paragraph
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1. The financial statement for April 30, 1992, presents total cash and securities held by the church at $151.7 million.
2. There was an indication that the shutdown costs for the church's television operations reported in April 1992 as $45 million had grown to $68.5 million. To clarify this, the additional amount, a writedown of television equipment ($13.5 million) and the cost of television operations for March and April 1992 ($10 million), is not a new cash demand required for shutdown.
3. The "unqualified" opinion that the auditors Ernst and Young expect to give regarding the church financial statements also indicates that the financial resources of the church are sufficient for operations in the coming fiscal year, says Donald Bowersock, managing treasurer.