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.

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.

You've read 3 of 3 free articles. Subscribe to continue.
QR Code to Clarification COCorrection for 6/10/92
Read this article in
https://www.csmonitor.com/1992/0612/12033.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe
CSM logo

Why is Christian Science in our name?

Our name is about honesty. The Monitor is owned by The Christian Science Church, and we’ve always been transparent about that.

The Church publishes the Monitor because it sees good journalism as vital to progress in the world. Since 1908, we’ve aimed “to injure no man, but to bless all mankind,” as our founder, Mary Baker Eddy, put it.

Here, you’ll find award-winning journalism not driven by commercial influences – a news organization that takes seriously its mission to uplift the world by seeking solutions and finding reasons for credible hope.

Explore values journalism About us