Finance Committee, December 14, 2016

Minutes of the Finance Committee

First United Methodist Church, Santa Rosa

Wednesday, December 14th, 2016

Carriage House, Montgomery campus

 

Present:  Greg Roth (Chair), Mary Brunet (Business Administrator), Chris Bowen, Tokasa Buinimasi, Ryan Comiskey,  John De Groot (Trustees), Jack Dupre, Bill Stephens (Lay Leader/Staff Parish)

Apologies:  Charlie Amezcua, Mike Ferrel, and Peg Ferrel (Lay Rep to Annual Conference), and Heather Young

Greg Roth called the meeting to order at 7:05 p.m. He offered the opening prayer.

 

Approval of Minutes

Last month’s 2016 Finance Committee meeting minutes (Nov 2016) had been previously approved through email communication to members. 

 

Finance Report

Greg Roth reviewed the financial statements for November 2016.  At month end the main checking account balance was a normal and healthy $76,915.

Year-to-date (YTD) pledges and gifts were $740,262.28, which is 96.99% of the YTD budgeted amount.  Total YTD income was $810,439.94 which is 97.34% of the YTD budgeted amount.  YTD total expenses were $814,779.76 which is 93.77% of the YTD budgeted amount.  Overall, YTD total income is short of YTD total expenses by only $4,339.82.

Greg reported that our earlier financial forecasting for November was especially accurate. Although income was a bit below expectations, church-wide expenditures were significantly lower. He also surmised the church had a good chance for a balanced budget by year-end, even-though starting out the year in an unbalanced position.

 

Stewardship Campaign

Mary Brunet reported that the dollar amount of pledges received so far for 2017, compared to the dollar amount of pledges received for 2016, was running at approximately 76%. She was pleased with both the new pledges and the number of pledges being received. She cited stewardship dinners, higher quality print materials, and immediately sending a thank-you, as positive changes from the 2016 stewardship campaign.

For the past two previous years financial support re-asks in the spring were conducted to make-up for shortfalls in our fall stewardship campaigns. At the upcoming budget summit in January, it is hoped that a re-ask will not be needed for church financial needs in 2017.

  

Financial Controls

A discussion was held regarding previously adopted policy changes to both money counting and bank statement reconciliation. Progress has been made in counting cash. New volunteers are helping, but are not yet tallying checks. Similarly, in terms of bank statement reconciliation, the FUMC Book-keeper continues this task rather than having volunteers or an outside vendor undertaking the duty.  Greg stated that it would be difficult for any volunteer (who is not the book keeper) to independently reconcile the bank statement, because that volunteer would ultimately need to rely on the book keeper for information.  Greg will provide a policy change draft language during the committee’s January 2017 meeting. That language will propose having volunteers review the reconciliation, rather than perform the reconciliation. 

 

Other Business

The meeting tonight was the last for the finance committee in 2016. Some committee members’ terms have expired, so these members will not be continuing in 2017. They are Ryan Comiskey, Jack Dupre, and Bill Stevens. Greg Roth and other attendees thanked the departing members for their outstanding efforts and contributions. New members Jack Breglio and Marty Thompson will join in 2017.  

The meeting adjourned at 8:00 p.m. A closing prayer was offered by Chris Bowen.

Next meeting: 7:00 p.m. January 11th, 2017 in the Carriage House

Respectfully submitted by:

John De Groot, Trustee Representative

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Wed, 12/14/2016 - 19:00