Finance Committee, April 9, 2014

Minutes of the Finance Committee

First United Methodist Church, Santa Rosa

Wednesday, April 9, 2014--Carriage House

 

Present:  Pamala Stephens (Chair), Mary Brunet, Ryan Comiskey, Greg Roth, and Larry Thompson  

Absent:  Jack Dupre, Marjorie Noble, Larry Schmidt, and Steve Zwick

 

Pamala Stephens called the meeting to order at 7:02 p.m. and began with a prayer.

 

Approval of Minutes

Minutes of the Finance Committee meeting of March 12, 2014 were approved as written:  Moved by Larry Thompson, seconded by Pamala Stephens, motion passed unanimously

 

Finance Report

Larry Thompson reviewed the financial statements for March, 2014.  During the month the main checking account balance increased $7,481.63 and the operating fund balance increased $6,723.02.  The committee has a goal of achieving an operating reserve of $40,000.  At the end of March the operating reserve fund was $19,896.69, approximately half the goal (and moving in the right direction).  Total assets increased $4,876.34, while total liabilities increased $117.68, so total fund balances increased $4,758.66.  Year to date (YTD) pledges and gifts were $175,881.61, which is 95.11% of the YTD budgeted amount of $184,923.27.  Total YTD income was about 97% of the YTD budgeted amount.  YTD total expenses were about 98% of the YTD budgeted amount.  YTD maintenance & repairs expenditures were $2,247.17 over the budget amount.  Mary Brunet was going to review some of the expenditures with the Trustees.  Overall, total income has exceeded total expenses by $2,384.36 so far in 2014.  The 03 and 04 accounts total $84,300.64 and were fully funded. 

 

Other Business

Mary Brunet reported that the first-ever FUMC April Fools’ Day fundraiser was extremely successful.  This fundraiser was created to fill a projected $5,000 shortfall in the 2014 budget.  As of March 31, $7,775 had been raised and more receipts were anticipated. 

 

The committee discussed the increasing popularity and associated expenses of the Spirit Café ministry.  Committee members noted that soup kitchens sometimes receive food donations from hospitals, grocery stores, and other organizations.  Some committee members expressed the view that it may be worth pursuing these types of donations in the future if Spirit Café attendance continues to increase.

 

Pamala Stephens updated the committee regarding the Building Fund & Annual Fund Drive.  She invited any interested committee members to attend the upcoming meeting with John Dodson and the working group who will be discussing the fall campaign. 

 

On April 14, 2014, after the Finance Committee April meeting, the Stony Point Community Garden requested approval for a vegetable starter plant fundraiser to be held on April 27 and May 4.  Committee members voted by email to approve this request.  The vote total was 7 in favor and zero opposed.

 

The meeting adjourned at 8:30 p.m. with a prayer by Pamala Stephens.

 

Next meeting: 7:00 p.m. May 14, 2014, Carriage House

 

Respectfully submitted by Greg Roth

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Wed, 04/09/2014 - 19:12