Vestry News for June, 2016
Highlights of June 21 Vestry Meeting:
• The Parish has received notice of a bequest of approximately $75,000 from the estate of parishioner Lorraine Wallenborn. The Vestry approved the Treasurer’s recommendation that the bequest be allotted as follows: $7,500 to the Outreach Fund, $20,000 to be set aside as a new fund to be used by the new Rector for initial funding of his or her new initiatives, and the remainder, approximately $47,500, to the Maintenance Reserve Fund.
• Christie Thomas reported that the Rector Search Committee’s work is going very well, and is a bit ahead of schedule.
• A committee of the Vestry is developing a format for a planned Performance Management Report, including a look at statistical trends in various areas of parish life.
• Bob Sayler reported on a listening session with youth group parents, who enthusiastically praised the work of youth ministers Joe Lenow and Grace Aheron. We have potential attendance of 25 young people from the parish. This fall, the youth group will meet on Sunday nights.
• The Vestry is beginning to prepare for the fall Annual Giving campaign.
• The Vestry is preparing for the arrival of a new Rector by practicing the process of “Mutual Ministry Review” in August. This review is planned as an annual formal occasion for mutual evaluation and feedback between the Rector and the Vestry.
The next regularly scheduled meeting of the Vestry will take place in the lounge at 7 p.m. on Tuesday, August 16.
The minutes and financial reports from the June meeting are posted in the parish hall.
June 21, 2016
From: Lynne Weikart, Treasurer
Re: May 2016 Financial Report
May financials reflect that 42% of the fiscal year has passed. Overall our pledge payments are strong. We have revenue issues in the plate offerings. Our expenses are under control for the most part. However, we spent more this month than we took in.
Our pledge payments continue to be robust. We have collected 44% of our pledges by the end of May. We fall short in revenues in three accounts: Plate Offerings, Building Rent and Canterbury/Skinner Alumni. The Plate Offerings account is seriously behind ($12,863 actuals out of $38,000 projected) and is reflective of our deceasing Sunday attendance. It is too soon to tell if the Building Rent account is problematic. I don’t think we will make the revenue target of $10,000 for the alumni; we have collected $2,500, which is not yet reflected in the May actuals.
Our expenses are under control. Salaries and benefits which are the largest part of our expense budget ($523,025 or 62%) are on target, except for health insurance. Administration is on target with only 40% spent. In terms of the larger accounts in administration, both office and program accounts are overspent. Utilities and maintenance are over budget. Overall, spending is on target.
In dedicated funds which are not part of our budget, we hold approximately $81,000 in operating reserves. This is a critical fund for the cash flow needs of our church.
Performance Management Report
As we discussed at the last meeting, a small group from the Vestry got together to discuss performance indicators. We wish to put together a selection of performance indicators into a small report that the Vestry would issue yearly, and in that way we would become better educated about our history and current trends. Michelle Claibourn, Lloyd Snook, John Reid and I met to discuss what we would like to see in an annual performance management report. We suggest the following indicators, most of which are collected in the Register of Church Services or in the Annual Financial Statements Report:
Average Sunday Attendance
Easter Sunday Attendance
Number of Baptisms under 16
Number of Confirmations under 16
Church School Students Enrolled
Number of Pledge Cards
Total Amount Pledged
Plate & Pledge & Other Regular Amounts
Cash in Checking and Savings
Small Group Activity
Members in the Foyer Groups
Number of Choir Members
Number in Annual Meeting
Number in Adult Sunday School
Youth Services & Canterbury
Godly Play Average Attendance
Nursery Average Attendance
Youth Group Meetings Average Attendance
Canterbury Meetings Average Attendance
Number of Students on Mission Trips
John Reid is taking the first cut of drafting a spreadsheet that would have the trends for the past several years. We will meet again in the fall to discuss our progress.
We have been notified of a bequest left to St. Paul's. The language of the charitable remainder unitrust indicates that the bequest is not intended to be added to the endowment but rather "to be used as the governing body deems appropriate."
I recommend that we allocate this money, roughly $75,000, as follows:
o $7,500 to the Outreach Fund
o $20,000 to be set aside in a new fund to be used by our next rector to jumpstart his or her new initiatives.
o The remainder, approximately $47,500, to the Maintenance Reserve Fund. This will fill the shortfall created when the vestry was unable to fund allocations to this fund in the last two budget cycles.
Vestry Minutes for May 2016 PDF file
Vestry Agenda for June 21, 2016 PDF file
Financial - Balance Sheet for May 2016 PDF file
Financial - Dedicated Funds for May 2016 PDF file
Financial - Income and Expenses for May 2016 PDF file