Newsletter No 43 NOVEMBER 2010 Website: www.anglicanstogether.org ISSN 1836-511 3. Over the years the EOS has assumed responsibility Presidents Reflections for many costs beyond the Episcopal needs of staff, office and accommodation. We learnt that when St. To sell or not to sell Andrews House was being built, the builder went To sell or not to sell bankrupt and the GAB persuaded the Archbishop of the Every Sydney day to fund its completion from EOS funds. This he Synod seems to reluctantly did on the firm understanding that this was a have a least one loan to be repaid by the GAB. The loan was never major debate that repaid. everyone’s attention The argument to sell Bishopscourt was presented is focused on and by Bishop Robert Forsyth on behalf of the Standing this year’s synod Committee- he obviously drew the short straw. He was no exception. presented the financial arguments already detailed and The big debate argued that the sale of Bishopscourt for a figure around was about the $24 million would release a significant amount of capital Standing that could then be invested to generate income for the Committee’s EOS. He suggested that a suitable replacement residence recommendation for the Archbishop could be found for between $5 to $10 that the million, which would leave at least $14 million to invest. Archbishop’s Bishop Forsyth’s second line of argument was that residence, Bishopscourt was no longer a suitable residence for an Bishopscourt should be sold. The sale of Bishopscourt Archbishop in the 21st Century; it was too ‘grand’, its has been mooted many times in the last thirty years image was all wrong and retention of it was poor usually around the time of the appointment of a new stewardship of the diocesan resources given the urgency Archbishop. However, this time the proposal was given of the diocesan mission. a new urgency by the dire state of the Endowment of the See, (EOS). The EOS is the fund which provides income The ‘no’ case was presented by the Rector of to support the office of the Archbishop and over the years Neutral Bay Parish, the Rev’d Craig Roberts. He it has funded all the Bishops. The depth of this fund has bounced out of his corner with a fiery speech in which always been rather mysterious and this year was the first he challenged the notion that selling Bishopscourt was time in my memory that the synod was provided with a wise financial decision. He questioned all the facts and figures. We were told that the assets of the financial modelling presented by Bishop Forsyth and his EOS consist of a 50% share holding in St. Andrew’s seconder, Peter Kell and argued that we would lose House Corporation (SAHC), Bishopscourt, rental forever a valuable asset for very dubious financial gain. properties, the bishops’ housing, and some equity He continually repeated the line ‘Selling Bishopscourt is investments which carry a total value of about $68 a bad idea.’ In the course of his speech we also million. But the accounting income arising from these is learned that the sale of Bishopscourt was not only 2.5% pa and the actual cash yield is a mere 0.4%. supported by the Property Trust and that it didn’t have the support of all the Standing Committee. We A number of problems came to light: were witnessing a house divided with no consensus 1. The Greenoakes unit development behind among those entrusted with managing our financial Bishopscourt has not yielded the large profits that were resources. Standing Committee, the GAB, the EOS expected – the units came on the market at the time of the committee and the Property Trust have not been singing GFC. from the same song sheet. 2. SAHC has over distributed its cash flows in recent years to its two equal shareholders, the Glebe The debate that followed these two presentations Administration Board and the EOS. Furthermore income was long and very lively. It became apparent that from SAHC will be greatly reduced in the short term many in the synod were not confident that the funds because the Bureau of Statistics conclude their lease of released by a sale of Bishopscourt would be managed three floors in 2011 and these floors will need to be wisely. The track record of our financial managers was refurbished before a new tenant can be found. too dodgy. Professor Bernard Stewart gave one of his 1 signature witty speeches in which he asked the rhetorical I have two concerns about these changes. First, question of the house, “Which of you would put your they are another attempt to distance our diocese from residence in the hands of our Standing Committee?” the rest of the Anglican Church of Australia. Up till Pause. “You know you would be out on the street faster now our Archbishops and other clergy have agreed to the than you can say EOS!” Howls of laughter. A number of same declarations and assents as other clergy throughout speakers also made the point that criticism of the nation. No other diocese uses the form of words now Bishopscourt as being too grand for our archbishop was proposed. Secondly, the words are problematic. We no specious because the house is far more than a residence: longer firmly believe in the Catholic Faith expressed in it provides a place for entertainment and hospitality and the creeds and Prayer Book but in the Bible being the is a resource for ministry to the wider community. Debate Word of God. Most Christians of all persuasions and was halted just before 10pm and we voted on an amended traditions will want to agree that the Bible is the Word of motion that endorsed the decision to sell Bishopscourt God but what do we actually mean by that? I believe the but with certain safeguards. The voting was by secret Bible is the Word of God but I don’t believe that God’s ballot and given the lateness of the hour, results were not Word is the Bible and I suspect that is what some of my known until the following day- 218 members voted for Sydney brothers and sisters want me to affirm. In the the sale and 249 voted against. New Testament and in the first couple of centuries of the Christian Church, the expression the ‘Word of Four ordinances were passed by the Synod. The one God’ was never used of the Scriptures. The Word of that provoked the most interest and debate was the God always meant, the Word made flesh, Jesus, or it Archbishop of Sydney (Election and Retirement) referred to the oral tradition- the message about Amendment Ordinance 2010. This ordinance made Jesus. We read the written Word, the Bible in order to changes to the process for electing a person to the office encounter the Living Word, Jesus. We worship the God of Archbishop and also to the terms on which the we meet in Jesus; we don’t worship the Bible. The Archbishop is to retire. These include: difficulty with making the written Word the touchstone 1. reducing the period between a vacancy occurring of faith is that it fails to deal with the issue of how we and when the election synod is to be held – interpret God’s word. The new form of words is now previously 9 – 16 weeks after the vacancy, now 3 enshrined in the Archbishop’s Retirement Ordinance; – 6 weeks. next year the synod will have to decide if they should 2. Increasing the retirement age of the Archbishop become the solemn promises made by all ordinands in to 68 years (previously 65). After the Archbishop this diocese. Watch this space. has reached the age of 65 years, the Standing Committee has the power to extend the Finally a quick comment about the motion that retirement age to 70 years by resolution passed appeared on the business paper every day of synod but by 75% of the members in both houses. (laity & was never actually debated. This motion titled, Equal clergy). Representation of Women called for Standing Also included in this ordinance was a change to the Committee to adopt the principle of equal usual declaration and assents given by the representation of women on all boards and councils in Archbishop. Currently the Archbishop and candidates the diocese, wherever legislatively and practically for the priesthood in Sydney assent to the following: “I possible and was put up by Lyn Bannerman and firmly and sincerely believe the Catholic Faith and I give myself. Currently women are grossly under represented my assent to the doctrine of the Anglican Church of on all our boards and councils. Women make up just Australia as expressed in the Thirty Nine Articles of under 25% of elected members on synod and on Standing Religion, The Book of Common Prayer and the Ordering Committee with 58 members there are only 7 women. of Bishops Priests and Deacons; I believe that doctrine to The Regional Council has no women members. The be agreeable to the Word of God; and in public prayer Glebe Administration Board whose decisions were and administration of the sacraments, I will use the form responsible for the huge financial losses had no in the said book prescribed and none other, except as far women members and remains exclusively male. A as shall be prescribed by lawful authority.” recent survey of financial institutions and the way they These words have now been replaced with the weathered the GFC showed that institutions with a following: “I ……………..firmly and sincerely significant number of women on Boards performed better believing the Bible to be the Word of God and the than those which were male dominated.