Finance Team

Finance Team – Feb.12, 2012

Finance-Resource Focused Leadership Team Highlights –February 9, 2012 meeting

At the request of the Property and Grounds, the Finance Team approved the spending of approximately $19,000 that either is already in the capital fund or has been pledged during 2012 for the restoration of the four stained glass windows in the Chapel and Choir Room.  This means there will be deficit spending to complete this project in 2012.  An additional $7000 will be requested from the congregation in 2012 in order to prevent carrying this deficit into 2013.  The total restoration project, performed by Whitney Stained Glass Co, will cost approximately $26000.

A white paper policy for both small and large undesignated gifts was voted on and approved by the finance team.  This will give our church guidance on disbursement of these windfalls.

Finance Team – Jan. 12, 2012

Finance Team – Jan. 12, 2012

As of January 12, 2012, the budget deficit for 2012 was $50,000, and the predicted budget deficit in 2012 is in the range of $40,000 to $23,000.   The range depends on the uncertainty of additional pledges.  Gil Brucken will address the congregation regarding this deficit.
At the request of the Property and Grounds, the Finance Team approved the spending of approximately $26,000 for the restoration of the four stained glass windows in the Chapel and Choir Room.  Approximately $20,000 of this capital expenditure is either in the capital fund or has been pledged for 2012.   The additional $6000 will be requested from the congregation in 2012.  Whitney Stained Glass Co. will perform the restoration.

December, 2011 Mtg.

Thanks to helpful input from our finance secretary, Kelly Charnley, the Finance Team approved Cincinnati Insurance as provider of our church insurance for 2012. This is approximately $1500 less than that paid in 2011 for insuring our structure with Church Mutual.

Finance Team – September 2011

Finance-Resource Focused Leadership Team
Highlights –September, 2011 meeting

The total cost of the drainage repair project (including reseeding the area) on the North and West side of the church is approximately $51,000.  To help pay for the cost of this necessary repair, the Finance team approved transferring approximately $4300 from dormant restricted accounts and from other sources into the Capital Fund.  Including 2011 pledges and recent gifts to the Capital Fund, a total of $38,000 has been raised for the repair as of Sept., 2011.   This leaves a deficit of approximately $13,000, which has been taken from our cash reserves.    Approximately 55 church members have contributed to the endeavor in 2011.    Additional contributions to this completed project will be appreciated.
The Finance Team has approved allocating 80% to the operating budget and 20% to the benevolence budget in 2012 for undesignated member pledges.  For the year 2013, the Team will consider directing a portion of the undesignated member pledges to the Capital budget.

Finance Team Update – May 2011

Finance-Resource Focused Leadership Team -
Our church’s cash funds (operating, capital, memorial gifts, Hobby Horse) currently deposited in two banks, First Merit and Wells Fargo, will be combined and deposited in one bank (First Merit).  The transfer will be completed by the fall.  The leveraging of our church’s funds at one bank will save at least $700/year, mostly by reduced bank fees.