Finance Committee, May 10, 2017

Minutes of the Finance Committee

First United Methodist Church, Santa Rosa

Wednesday,  May 10 , 2017 — Carriage House

 

Present:  Greg Roth (Chair), Tokasa Buinimasi, Chris Bowen, Mike Ferrel, Peg Ferrel (Lay Delegate to Annual Conference), Heather Young (Recording Secretary), Mary Brunet (Business Administrator), and Darryl Jurling (Representative from Trustees).

 

Absent: Charlie Amezcua, Jack Breglio, Marty Thompson, a Representative from Staff Parish,

 

Greg Roth called the meeting to order at 7:05 pm, beginning with a prayer.

 

Approval of Minutes

Minutes were approved via email prior to the meeting, and will be posted to the FUMC website.

 

Finance Report

Greg reviewed the financial statements for last month. While revenue is lower than projected, expenses are also reduced. We await the results of the Spring Campaign, which should be in by the first week in June.  Year-to-date highlights through April appear below.

 

  • Total Income was 3.16% below the forecasted amount.
  • Total Expenses were 4.28% below the forecasted amount (mostly because Pat Sanborn was not replaced and because of lower-than-expected pastors’ professional expenses, seasonal artist expenses, audit expenses, and hospitality expenses).
  • Total Expenses exceeded Total Income by $30,736.94.
  • At the end of April 2017, the operating checking account balance was $66,418.26 and the mortgage checking account balance was $84,315.90.

 

Report to Church Council

Greg shared his draft report and all approved it.

 

Financial Controls Report
 

  • Money Counters: Greg shared the schedule for weekly money counters and noted that we are still looking for more Money Counters for Mondays at 9:00 am (after a holiday, Tuesday at 9:00 am).
  • Check Signers: New arrangements are working well.
  • Review of Bank Reconciliations: New arrangement is working well.

 

Asset Task Force Update

Greg reviewed the options to be evaluated, which are the same as last month with the addition of the option to retain the Susanna Wesley House and rent it out. Rental value is estimated as $2000-2200/month.

A longer discussion ensued regarding options for working with developers of low-income housing.

An interim report of options for assets will be submitted to the Church Council this Saturday.

 

Other Business

Peg asked about the Stewardship Committee. Mike reported on progress - Mike, Paul O’Rear, Jim Wishcendorf, Marty Wait, Mary Ellen Heising, Thomas Barnett, Larry Woffard, Elizabeth Walton are on the committee and they will be meeting bi-weekly.

 

The meeting adjourned at 8:10 pm with a prayer by Mary.

 

Next meeting: 7:00 p.m. June 14, 2017 - Carriage House

 

Respectfully submitted by Heather Young, Recording Secretary.

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Wed, 05/10/2017 - 19:00