Resolved, the House of Bishops concurring,

That the assessment formula (Canon I.4.6.b.) for the period January 1, 2025 through December 31, 2027 is adopted based on a single assessment of each diocese. In each year the diocesan total adjusted operating income, as reported in the annual diocesan financial report (Canon I.4.6.j. and Canon I.6.4) for the year two years prior to the year to which the assessment is applied [e.g., 2025 assessments are to be based on 2023 actual income figures], shall be reduced by a $200,000 exemption. A single assessment shall be applied to the remaining amount (balance) at a flat rate of 15%; and be it further

Resolved, That the 80th General Convention adopt the 2025-2027 budget for The Episcopal Church, as presented by the Executive Council, at total income of $143,191,157 and total expenditures of $143,191,157; and be it further

Resolved, That the 2025-2027 Episcopal Church budget shall be adjusted and managed as set forth in the Canons, Rules of Order, and Executive Council policies and procedures.