Finance Committee, September 9, 2015

Minutes of the Finance Committee

First United Methodist Church, Santa Rosa

Wednesday, September 9, 2015--Carriage House

 

Present:  Greg Roth (Chair), Mary Brunet, Ryan Comiskey, Bill Stephens, and Heather Young.   

 

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

 

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

 

Finance Report

Greg reviewed the financial statements for August, 2015.  During the month the main checking account balance rose by $5,552.62 to a new balance of $44,061.72.  The operating fund balance increased by $7,551.08 to a new balance of $23,545.12. 

 

Year-to-date (YTD) pledges and gifts were $474,081.62, which is 102% of the YTD budgeted amount.  Total YTD income was $520,274.90, which is 101.8% of the YTD budgeted amount.  YTD total expenses were $511,025.65 which is 97.5% of the YTD budgeted amount.  Overall, YTD total income has exceeded YTD total expenses by $9,249.25.

 

The Committee members noted that a YTD deficit of $13,081.45 had been forecasted for August.  Consequently, actual YTD net income appears robust and better than expected.  

 

Business Administrator’s Report

Mary reported some delay in obtaining an auditor for this year, due to the retirement of our previous auditor and a backlog waiting for the auditor experienced with our church system.

 

Ministry Fair

We reviewed the two items to be distributed at the Fair – a folder on the Finance Committee with a summary of January – August finances developed by Mary and Greg; and a high-level, pie-chart overview of this year’s church budget developed by Heather.

 

Catholic Charities Financial Literacy Program

Greg reviewed his recent conversation with Margie Pettibone, a Catholic Charities representative.  She described the early-stage Catholic Charities Financial Literacy program to Greg and they discussed possible avenues of cooperation with FUMC.  Margie will follow up with Greg at a later date.

 

Other Business

Heather Young brought an invitation to the Big Night Out at Lagunitas – a FAB Fundraiser for 4C’s – the Community Child Care Council of Sonoma County: 5:30 pm on Tuesday, September 22. Tickets available from Heather!

 

The meeting adjourned at 8:05 p.m. with a prayer by Mary Brunet

 

Next meeting: 7:00 p.m. October 14, 2015, Carriage House

 

Respectfully submitted by Heather Young.

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Wed, 09/09/2015 - 19:00