Finance Committee Meeting June 10, 2008

Financial Committee Minutes

June 10, 2008

HIGHLIGHTS:

• Address negative balances in a couple accounts
• Discuss the budget and the need to increase giving; how to address this

In attendance: Bill B, Joe B, Dick B, Carole B, Pastor David N, Ron S and Susan C.

Approval of Minutes: Carole moved that we approve the minutes of the last meeting. Bill seconded. Motion passed.

Treasurer’s Report: The Building/Remodel Construction Fund (597F) has a shortfall of $2,931.06. After some discussion, Ron moved that we transfer funds from the Grace Parsonage Gift Fund (596T) to cover this shortage. Bill seconded. Motion passed.

The Missions account (700C) has carried a shortage of $753.89 since the mission trip to Montana last summer. Do we ask those who went on the mission to cover the expense?

Do we know how to contact everyone? Since this is a year old, we agreed to ask the Missions Committee for help to find a way to cover some of the shortage or to offer suggestions for ways to cover it. Susan will speak with Alyson.

The question was asked if we still have money left to spend on the parsonage. Last year, the amount approved for the parsonage was $400,000. Of that, $375,000 was spent to purchase the parsonage. The balance of $25,000 is the “hard limit” available to be spent on the parsonage over the first 3 years we own it.

Susan will ask Paul if we have paid for the convection ovens.

New Business

July and August Meetings: The July meeting will be postponed a week due to Vacation Bible School. However, it will be on Wed. July 16 rather that Tues. Discussion of the August meeting was postponed until July.

Budget: Pastor David reminded us that the purpose of the Finance Committee is to find ways to fund projects. We need to help the congregation discover the importance of being part of the financial base, to honor their commitment. We need to help them discover the joy of giving – that church should be at the top of their list not the bottom.

Giving is a spiritual issue not financial. If the congregation won’t support the budget, our outreach effort begins to paint a not-so-pretty picture. What are our priorities?

We will dedicate the July meeting to finding ways to increase giving. The health/life of our church depends on this. At their May meeting, the Church Council discussed ways to increase giving. We will use those to jump start our discussion at our July meeting.

Old Business

“Other Pockets”: We have made approximately $11,000 to date. After the $4350 in fees, we can spend $6650. Ron moved that we allocate $3000 to replace the lights in the community Room and $4000 to refurbish the washrooms off the SonRise Room. Dick seconded. Motion passed.

Annual Rummage Sale: The proceeds were $4700.

Taste of Epworth: We have the drinks booth.

Capital Campaign 2009: A place marker for now

Adjourned at 8:35 P.M. Next meeting is Wednesday July 16, 2008 at 7:00 P.M.

Respectfully submitted,

Susan C