55 years ago today - Dec 4,1959

Budget Committee reports that church spent $8 million more than its revenues that year. As result, church permanently stops releasing annual reports of expenditures.

[Source: Quinn, D. Michael, The Mormon Hierarchy: Extensions of Power, Appendix 5, Selected Chronology of the Church of Jesus Christ of Latter-day Saints, 1848-1996, http://amzn.to/extensions-power]

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