Finance Committee, August 9, 2017

Minutes of the Finance Committee

First United Methodist Church, Santa Rosa

Wednesday, August 9, 2017 — Carriage House

 

Present:  Greg Roth (Chair), Charlie Amezcua,, Tokasa Buinimasi, Chris Bowen, Jack Breglio, Mike Ferrel, Peg Ferrel (Lay Delegate to Annual Conference), Marty Thompson, Heather Young (Recording Secretary), Mary Brunet (Business Administrator), Norm Bryan (Representative from Staff Parish), and John DeGroot (a Representative from Trustees).

 

Absent: None

 

Greg Roth called the meeting to order at 7:00 pm, beginning with a prayer for Larry Thompson, who faithfully served the Finance Committee for many, many years and who is in very poor health.

 

Approval of Minutes

Two adjustments of the minutes were discussed. Peg moved and Marty seconded adopting these changes and the motion was approved unanimously.

 

Spring Stewardship Campaign Update

Norm Bryan presented the results of the “We Love Our Ministries” campaign which brought in approximately $70,000. Norm also presented the results of Church Council actions with regard to no longer funding Operating Reserves and other actions to reduce expenses and access additional funds (reserves). Norm’s assessment is that “FY 2017 is now fine - we will end the year in the black” and he recommended that the Finance Committee recommend to Church Council to rescind the previous directives to reduce spending. This was discussed in some depth and a motion was deferred until later in the meeting. Norm excused himself from the meeting.

 

Finance Report

Greg reviewed the Financial Reports for the month and pointed out that year-to-date (YTD) Total Income (for the operating and mortgage fund) is down about 4.8% from last year at this time. YTD Total Expenses are reported up about 0.15%.  YTD Total Expenses have exceeded YTD Total Income by $23,235.72 as of July 2017.

 

Cash Flow Report

Greg discussed a Cash Flow Report going forward. The decision was made last month to attempt to create one and Janin is working on this.  Mary suggested that we might approach the church’s CPA firm and/or the church’s accounting software consultant about creating a Cash Flow Report.

 

No Recommendation to Church Council Regarding Its Recent Decision to Cut Spending

The Finance Committee discussed whether to make a recommendation to the Church Council about rescinding the Council’s recent decision to reduce spending.  It was determined that no recommendation would be made.

 

The meeting adjourned at 8:24 pm with a prayer by Mary Brunet.  Mary also led us in prayer for Larry Thompson.

 

Next meeting: 7:00 p.m. September 13, 2017 - Carriage House

 

Respectfully submitted by Heather Young, Recording Secretary.

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Wed, 08/09/2017 - 19:00