• Mildred Robinson and other members of the Endowment Committee presented newly drafted Proposed Replacement Bylaws for the Endowment Committee, including Proposed Endowment Fund Policies and Practices. After discussion, the Vestry requested that, after receiving written comments from vestry members, the Endowment Committee present a revision of the proposed bylaws at the Vestry Finance Committee meeting on October 18.
• The Vestry signed a letter of support for Katherine Dougherty, a parishioner who is a senior at The School of Theology at the University of the South and a candidate for ordination to the priesthood.
• Senior Warden Darren Ball announced plans for the fall annual giving campaign, to be chaired by former Senior Warden Charles Lancaster.
Complete minutes of the meeting are posted in the parish hall.
October 16, 2016
From: Lynne Weikart, Treasurer
Re: September 2016 Financial Report
We are three fourths (75%) of the way through the fiscal year. The revenue side of the budget remains problematic. The trend is clear; for the last several years, we have taken in less money each year from pledges and from plate offerings. The consequences are severe in the future unless these trends can be reversed. Even when our expenses are on target, if our revenues flag, we are still in trouble. Of course, we don’t know what December will bring. December is the time of year when parishioners catch up on their pledges. Our parish can take in over $125,000 in December whereas other months range from $35,000 in revenue receipts to $75,000. Consequently, it is difficult to predict whether or not our parish will end the year in a deficit. Currently, we have sufficient cash on hand for our expenses.
In total, we have collected $568,185 or 68.2% of our budgeted revenues by the end of September. We have taken in $384, 931 or 65.2% of our budgeted pledges and $23,256 or 61.2% of our budgeted plate offerings. The revenue for building rents remain low with only 60.4% of the budget collected. The Canterbury/Skinner Alumni revenues are low; however, with a fall mailing, these revenues could increase significantly. The Canterbury Rents are also low but should catch up by the end of the year.
Our expenses remain on target. The Outreach Committee has completed its work and spent the $20,200 budgeted for the year. Salaries are running below budget at 71.9% while benefits are over budget at 80% because of prepaid payments of health insurance. Administration is on target. Buildings and grounds are over budget; $94,906 or 83.5% of the budgeted amount. Utilities and maintenance are both over budget.
The dedicated funds are fine. We have overspent in Shrine Mont but the other funds are in good shape.
Vestry Agenda for October 18, 2016 PDF file
Financial - Balance Sheet for September 2016 PDF file
Financial - Dedicated Funds for September 2016 PDF file
Financial - Income and Expenses for September 2016 PDF file
|8:00 a.m.||Holy Communion|
|10:00 a.m.||Holy Communion|
|5:30 p.m.||Holy Communion|
|8:00 a.m.||Morning Prayer|