Finance Committee, December 9, 2015

Minutes of the Finance Committee

First United Methodist Church, Santa Rosa

Wednesday, December 9, 2015--Carriage House

 

Present:  Greg Roth (Chair), Mary Brunet (Business Administrator), Ryan Comiskey, Jack Dupre and Larry Schmidt (Treasurer)  

Absent:  Marjorie Noble, Bill Stephens (Lay Leader/Staff Parish), Heather Young and Steve Zwick

 

Greg Roth called the meeting to order at 7:00 p.m., beginning with a scripture reading and a prayer.

 

Approval of Minutes

Ryan Comiskey moved and Jack Dupre seconded to approve the November Finance Committee meeting minutes.  The motion was passed unanimously. 

 

Finance Report

Larry Schmidt reviewed the financial statements for November 2015.  During the month the main checking account balance rose by $32,090.13 to a new balance of $47,998.71.  The operating fund balance rose by $21,120.78 to a new balance of $17,473.41. 

 

Year-to-date (YTD) pledges and gifts were $654,603.75, which is 101.81% of the YTD budgeted amount.  Total YTD income was $710,637.30, which is 101.37% of the YTD budgeted amount.  YTD total expenses were $707,459.76 which is 97.95% of the YTD budget amount.  Overall, YTD total expenses have exceeded YTD total income by $3,177.54.  YTD net income (total income minus total expenses) was $24,416.49 better than budgeted.

 

Business Administrator’s Report

Mary updated the committee on the Stewardship Campaign.  She proposed exploring text message contributions, suggesting that a pilot project might be ready by Christmas Eve.  Ryan Comiskey moved and Jack Dupre seconded that Mary explore the texting opportunity.  The motion passed unanimously.

 

SPRC Request to Pay Merit Pool Bonuses Early

The committee discussed a request from the Staff Parish Relations Committee (SPRC) to pay out $10,000 in contingent merit pool bonuses to the staff in December.  The original agreement between the Finance Committee and the SPRC called for paying out such bonuses in January 2016 if, and only if, year-end income exceeded year-end expenses (not including the bonus) in 2015 by at least $10,000. 

 

Ryan Comiskey moved and Jack Dupre seconded that the Finance Committee should approve the SPRC request in conjunction with a statement that the Finance Committee’s approval should not be viewed as precedent setting.  The vote was conducted after the meeting by email so that all Finance Committee members (including those not present at the December meeting) could vote.  The motion to approve the SPRC request failed by a 4-3 vote.

 

The meeting ended at 9:00pm with a closing prayer from Mary Brunet.

 

Next meeting: 7:00 p.m. January 13, 2016, Carriage House

 

Respectfully submitted by Greg Roth

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Wed, 12/09/2015 - 19:00