Finance Committee, November 9, 2016

Minutes of the Finance Committee

First United Methodist Church, Santa Rosa

Wednesday, November 9, 2016 - Carriage House

 

Present:  Greg Roth (Chair), Ryan Comiskey, Mike Ferrel, Bill Stephens (Lay Leader/Staff Parish), Thomas Barnett (a representative from Trustees), Chris Bowen, Charlie Amezcua, and Jack Dupre.

Absent: Tokasa Buinimasi, Peg Ferrel (Lay Delegate to Annual Conference), and Mary Brunet (Business Administrator).

 

Greg Roth called the meeting to order at 7:00 p.m., beginning with readings from Deuteronomy 31: 6 and

Matthew 11: 28-30.

 

Approval of Minutes

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

 

2017 Calendar of Offerings

The Committee discussed the proposed Calendar of Offerings/Events from the Outreach and Service Commission.  Greg proposed its approval, Mike seconded and the Committee approved without objection.

 

Finance Report

Greg reviewed the October financial statements.  Year-to-date (YTD) Pledges and Gifts were 99.11% of the budgeted amount.  YTD Total Income was 99.39% of the budgeted amount.  Total Income for October was 112.01% of the forecasted amount, a significant improvement over August and September. 

YTD Total Expenses were 93.16% of the budgeted amount.  There were several reasons for expenses falling below the forecasted amount, but two of the main reasons were: (1) FUMC has not had a full-time associate pastor for many months, even though we originally budgeted for one; and (2) although Commission Expenditures for September were 135.85% of the budgeted amount they are only 61.64% of the YTD  forecast.  YTD Net income (Total Income minus Total Expenses) was $9,237.49, which was better than the YTD Budget amount by $40,285.79. 

The main checking account balance was $77,337.79 and the operating fund balance was $40,460.05.

 

Stewardship Campaign Report

There was a brief discussion of the Narrative Budget which had been distributed with the bulletin last Sunday and seems to have been well received.  The Stewardship Campaign dinners have been completed and went well.  The Committee thanked the Ferrels for their preparation of the meals.  Thomas informed the Committee (Heather had already been told) that he will not be able to give one of the Stewardship talks after all.

 

Financial Controls Task Force Report

Per the recently adopted guidelines no staff members are to be involved in counting the offerings, but more volunteers are needed, especially until the Ferrels begin counting in January,and because both cash and checks need to be counted, checks photocopied and the offerings deposited.  Current volunteers are only used to counting cash and enough volunteers are needed for about a three week rotation.  A request for volunteers in the Roseleaf has not yet yielded results.  Committee members were asked to assist in recruiting more help.

 

Other Business

Thomas presented information from the Trustees regarding replacement of the Sanctuary furnace which has been “red tagged” by PG&E.  A request has been made to include an air conditioning unit with the new furnace and one member has volunteered to pay $10,000 toward the additional expense of approximately $12,000.  The Trustees have proposed accepting the Hanson bid of the three received as it is significantly under the other two.  Funds are proposed to come from Trustees funds, individual contributions and the Foundation.  The money will be taken from the Bank of The West checking account so the work can begin soon and the funds raised would then be repaid to this account.  

 

The meeting adjourned at 8:05 after Greg read verses from Psalm 27: 1 and Romans 8: 38-39.

 

Next meeting: 7:00 p.m. December 14, 2016 - Carriage House

 

Respectfully submitted by Chris Bowen, Acting Secretary.

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Wed, 11/09/2016 - 19:00