Financial Committee Minutes
HIGHLIGHTS:
- Review of some incorrect numbers in April Treasurer’s report.
- Review/report of reallocation of bequest and memorial funds
- Developing consistent procedures for bringing proposals to Finance
In attendance: Bill B, Joe B, Carole B, Pastor David N, Carol W, and Susan C.
Approval of Minutes: Bill moved, and Joe seconded, that we approve the minutes of the last meeting. Motion passed.
Treasurer’s Report: In Paul’s absence Carole shared his notes with the committee. In the 599T Bequest fund, Paul discovered some funds had been left in a no longer existing “Church Decorating” sub account. He used it to partially offset a negative balance in the “Undesignated” sub account under this same 599T account. From the March report, the pastor's pension amount had been put into pastor's insurance. This was corrected in April. Also, the pastor's salary has an extra $900 in it because part of his housing for 2007 had not been paid as per the staff parish. Paul is concerned that the Parsonage Fund has only a $300 balance and air conditioning has not yet been installed.
New Business
Reallocation of Memorial/Bequest Funds: Susan reported to the committee That she had met with Pastor David, Ron S and Jan S to look at the Bequest Fund and find funds to cover some overages for the kitchen hood project and the projector. The proposed reallocation is to move $1,000 from Capital Reserves and $4,599 from the Building Projects fund. Of that, $!,099 will go to the projector and the remaining $4,500 to the kitche hood project. She asked the committee to approve the reallocation. Carol W. moved; Bill seconded. Motion passed.
Old Business
Other Pockets: Susan informed the committee that an anonymous donor had offered to increase any monies received from economic stimulus checks. Our first mailing has gone out, and the second one will go next week. The final mainling with a commitment card will be mailed to arrive during the week prior to June 1.
Annual Rummage Sale: Susan contacted Janis to offer the help of the Finance Committee since this is our biggest fundraiser.
Taste of Epworth: Susan signed up Finance for drinks. We should have our booth “name” by June 8. Taste is June 21 from 3-7 with set up prior to, and take down afterwards. If anyone has any clever or creative ideas, please bring them forth.
Other: Carole shared with the committee that Church Council had discussed a variety of ways to increase giving. Several were mentioned including asking members to double their monthly commitment amount for one month.
Carole and Susan together will develop a procedure for committees to follow so that as soon as a project is known to have cost overruns, that can be brought to Finance. Finance needs to have information so that we are able to describe, define and/or defend additional funds spent on projects. We will also work on creating a procedure for bringing original proposals to Finance so that everyone is aware of what is necessary for consideration and/or funding.
Capital Campaign 2009: A place marker for now
Adjourned at
Respectfully submitted,
Susan C, Chair
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