Minutes 2015 Sept

Finance Council Meeting Minutes:

Tuesday, September 15, 2015

Present: Rob Twist, Fr. Dan Noll, Ron Wedding, Donald Vittitow, Scott King, Walter Leachman, Becky Brown, Frank Hsu, David Gadberry, Julian Gorham, and Tony Pescatore.

Not Present: Bill Richer, Joe Beavin, Martha Casher, John Tibe, and Michael Carpenter.

Meeting commenced at 7:30 am.

• Prayer – Frank and Rob led the monthly parish meeting prayer.

• Father Dan Noll comments/updates – Fr. Dan reserved comments for later throughout the meeting.

• Approval of the August 18, 2015 Minutes – Tony moved to approve, Donald seconded.

• Finance Committee Reports:

1. Education Life Center financing update -- The swap loan was $485,000 at 6/30/15. We have paid down the $200,000 as previously advised by PFC. Fr. Dan received a $100,000 donation for pastors discretion and he applied $75,000 to the swap loan. This loan is now approximately $207,817 outstanding.

2. Five year forecast - Rob is preparing a report based on year end June 2015 data and 2015/16 budget data. He hopes to be able to make a presentation at the October meeting.

3. Facilities & Maintenance – Perfection has been told to proceed with the test lights over the pews and provide an over the altar sample fixture sufficient to make an informed decision. The facilities report was reviewed with maintenance employees. There is a MQ volunteer work day set for Saturday 9/26 from 9-1.

4. School Finance – Becky provided information relative to FACTS financial assistance and tuition payment model. The tuition management model will cost $43 and paid by each family. The tuition management model will interface with renweb and quickbooks. This will enable receivable accounting for tuition instead of our current cash process.

5. Governance – The committee working assignments were reviewed and were set as follows:

Budget - Scott (chair), Rob, Michael, Frank, Becky, and Donald - next meeting late January
School Finance - Michael (chair), Becky - next meeting Sept 29
Governance - Joe (chair) - meet as needed
Facilities - David (chair), Rob, Martha, Julian, Donald - next meeting Sept 21
Resource Enrichment / Financial Planning - Frank (chair), Rob, Tony, Ron - next meeting Sept 25
Human Capital - Joe (chair), Scott - meet as needed

6. Year End 2015 - Frank's year end financial letter to parishioners and the pie chart were approved. These will be included in the newsletter, on the website, and an email will be sent. The signature page was circulated and the internal review was discussed. Frank will investigate our review options.

• Parish Council goals and objectives survey - Fr. Dan provided insight into the upcoming survey being conducted for the PPC to set the 5 year goals and objectives. This included listing and ranking a number of projects deemed important to consider.

• Information needs for the Finance Council - The Rob Twist and Frank Hsu reports were reviewed along with the quickbook P&L's and balance sheets. The Council will review its needs and report back to Walter. Also, the Council was provided the Diocesan Guidelines for Parish Finance Councils to review. Frank will be given a suggested monthly review chart.

• School Economic Assessment Task force (SEAT) - After much discussion regarding the human involvement and support required from those affected, Fr. Dan reported that this process will be continued.

• Festival –Scott King asked for committee members to sign up for money runners.

• Stewardship pledge weekend - Financial pledges to the offertory for 2016 will be conducted on Nov 7-8 and 14-15.

• Diocesan Annual Appeal – The goal for 2015 is $194,518. 2015 pledges 594 @ $158,645 compared to 2014 pledges 578 @157,486. Letters have been sent to those who pledged last year.

• August month-end financials/variance reports – The financials and variances were reviewed.

Next Meeting – October 20 at 7:30 a.m. Meeting adjourned at 9:17 am.

last update 12/04/2015 jm