Financial Committee Minutes 4-8-08

Financial Committee Minutes

April 8, 2008

HIGHLIGHTS:

• Income shortfall plus Easter gifts were very small
• Some projects are over budget. Is reallocation of memorial money necessary?
• “Other Pockets” campaign kickoff is April 27. Committee is in place.

In attendance: Donald B, Bill B, Joe B, Pastor David Newhouse, Carol W, and Susan C.

Approval of Minutes: Bill moved, and Don seconded, that we approve the minutes of the last meeting. Approved.

Treasurer’s Report: In Paul’s absence the committee reviewed the reports he had sent. Our income is down, and the extra expenses from the long, snowy winter have negatively impacted our budget. The numbers for the Pastor’s Pension and Insurance were confusing to those present. Susan will ask Paul for clarification for the May meeting. Paul asked us to note that the Multimedia bequest fund was at $0.00, but there are still bills being presented for it. Also, there is only $1860.23 left in the Kitchen Hood bequest fund, but we still have several thousand dollars of expenses for it. Part of the concern is that some of the Architect’s fees we’ve paid from this fund were for drawings not related to the kitchen hood. Pastor David relayed that Ron Stout has requested from the architecture firm a breakdown of their fees by project. We will need to address with Paul and Jan Starner, the Trustees member in charge of Memorials, how to cover these additional expenses, possibly through reallocation of Memorial funds.

This raised the issue of Susan asking the Church Council Members to have their committee members turn in all receipts to the committee chairs who would then turn them in to Paul. This would allow the chairpersons to track the monies allocated to his or her own committee rather than having Paul carry this extra responsibility. It would also give Paul the information he needs when paying bills.

Financial Secretary, Carol Westphal, told us that statements will be mailed to members on Thursday, April 10. Carol was asked to furnish the Missions Committee with information about money that is collected for mission projects so they can keep the congregation posted on how our mission money is spent.

New Business

Taste Of Epworth: This event is June 21, at church. Susan signed up Finance to be in charge of drinks.

Communicating Financial Data: We have discussed ways to let the congregation know, on a regular basis, where our finances stand. Pastor David inserted into the April newsletter a monthly summary of our finances for the first 2 ½ months of this year. Should this be a regular feature or is there another way we would like to disseminate

Finance Minutes, 4/8/08 p. 2

this information? Should the “Goal” amount be the annual budget divided by 12, or the monthly budget as listed in our actual budget?

Special Mailings: This year our Easter gifts totaled only $240, a huge decrease in what is usually given on that day. Paul asked us to consider how not having the special holiday mailing we’ve had in years past could have affected the gifts this year. Easter is considered an “extra” Sunday for our budget, but this year the low gift total didn’t make a difference in the budget. Should we reinstate the special mailings for Easter, Thanksgiving and Christmas?

Legacy Giving: This will be discussed after Lay Leadership has an opportunity to meet and appoint the committee per the Annual Conference.

Comprehensive project list: Although we have many projects in progress, a comprehensive list isn’t readily available. This may affect how some of the Memorial money is allocated or reallocated. We also need to discuss what may be some false assumptions about the availability of some of the Memorial money. This will also be important to the “Other Pockets” campaign. One of their tasks is to explain where the funds raised in this campaign will be spent.

Old Business

Capital Campaign: Our “Other Pockets” campaign will officially kick off on Sunday, April 27. Pastor David already inserted into the April newsletter a one page description of the campaign, its purpose and goals. The campaign committee is not complete, but the most of the positions have been filled. Pastor David suggested e-mailing Kevin Gowdy, our consultant, about including “economic stimulus” checks in the campaign program.

Annual Garage Sale: Susan confirmed with Janis Denman that she will be chairing the annual garage sale. The dates have been set for May 30 and 31. There will also be flowers for sale for Heifer Project, food and kids games.

Electronic sign: This sign should be installed by August. It will have 6” letters, and will be visible from Randall Road.

Adjourned at 8:17. Our next meeting is Tuesday, May 13, at 7 PM.

Respectfully submitted,

Susan Collins, Chair