Minutes of the Finance Committee
First United Methodist Church, Santa Rosa
Wednesday, October 14, 2015--Carriage House
Present: Greg Roth (Chair), Ryan Comiskey, Jack Dupre, Heather Young and Steve Zwick – plus Larry Schmidt (Treasurer), Bill Stephens (Lay Leader/Staff Parish), and Mary Brunet (Staff).
Absent: Marjorie Noble
Greg Roth called the meeting to order at 7:00 p.m., beginning with a scripture reading and a prayer.
Approval of Minutes
Steve Zwick moved and Ryan Comisky seconded to approve the September Finance Committee meeting minutes. The motion was passed unanimously. Greg thanked Heather for taking on the permanent assignment for taking the minutes.
Larry Schmidt reviewed the financial statements for September 2015. During the month the main checking account balance fell by $4,338.34 to a new balance of $39,723.38. The operating fund balance fell by $13,107.63 to a new balance of $10,437.49.
Year-to-date (YTD) pledges and gifts were $526,000.15, which is 100.84% of the YTD budgeted amount. Total YTD income was $575,517.26, which is 100.63% of the YTD budgeted amount. YTD total expenses were $579,375.67 which is 97.70% of the YTD budgeted amount. Overall, YTD total expenses have exceeded YTD total income by $7,987.50. Net Income (total income minus total expenses) was $17,210.54 better than budgeted.
Audit of Financials for the Church
Mary is having significant difficulty finding an auditor for our annual audit, because our previous, long-standing – and affordable – auditor has retired. She is looking into Pauline Walker, who knows the Powerchurch system we use, but Pauline is located in Montana and also is already booked up for this year. The Finance Committee approved the necessity of combining the 2014 and 2015 audits; they are targeted for February 2016.
Accounting Change to Mortgage Monies
Mary discussed possibly moving the mortgage fund and regular fixed mortgage payment to the income and expense report. The Finance Committee approved exploring this, so long as the Pledge Card is not changed for this year’s Stewardship Campaign: Heather Young moved; Jack Dupre seconded; it was passed unanimously.
The meeting adjourned at 9:00 p.m.
Next meeting: 7:00 p.m. November 11, 2015, Carriage House
Respectfully submitted by Heather Young.