Building Relationships with People in Christ
February 5, 2018 - Finance Committee Meeting (H)
Items to be included in Session's consent agenda - policy to require request of Memorial Funds 60 days BEFORE the funds are to be distributed - see second bullet of 5. below
Items to be voted upon or needing discussion by Session –-CE request to hold Rummage Sale - 6/20-6/26 - see 6. below
Items for information only -see below
Members present Ed Ingram, Bill Melewski, Don Pine, Linda Schumacher, Don Young and Paul Luce (via speaker phone)
Members absent: Sandy Moore (due to a minor car accident when leaving for meeting) &Barry Holmes
Ed opened with a devotional provided by Sandy.
1. Minutes of the January meeting were approved
2. Financial Secretary Report
o nothing to report
3. Treasurer's Report (see January 2018 reports in Drop Box)
o Paul reviewed the January financial reports with the committee
§ Treasurer's report (H) Paul explained that the $979.72 in the "Payments" column for the "Presbyterian Foundation Reserve“ is really just the correction of a prior incorrect amount. Information was received in mid-2017 that led us to believe there was more in this account than there actually is.
§ Balance Sheet (H1) Christi will be asked about the small overage in 28206-Youth Activities. Pastor Pat will be asked about the more signiificant overage in 28519-MLK
§ Income Statement (H2) Expenses more than projected. Items contributing to this the most were the Contract Labor which was higher because this was payment for both 12/17 & 1/18 and the annual payments for Property Insurance and Shelby support.
o Paul also requested that he be notified when the Finance Committee meeting has been moved.
4. State of BRPC checking account
o We reviewed the current bank account balance as well as the upcoming payments to be made to insure that we had enough money in the bank to pay the bills. Even though it was determined that we are currently "OK", there was discussion about the fact that it is not good business practice to constantly have to worry about whether or not there is enough in the checking account to cover the bills. And, If funds were needed in an emergency, there is only $1831.09 in our savings which could be moved quickly. It takes from 7-10 days to transfer funds from our Presbyterian Foundation Endowment. Don Pine made a motion and Don Young seconded that we transfer $15,000.00 from Presbyterian Foundation Endowment to our checking account at Blue Ridge bank. Motion carried. Ed Ingram will head up the actions needed to make this transfer.
o We also discussed the need to impress on the leadership of the church that seeing this money in the bank account is not a reason to spend more money - it still will only cover a portion of the amount that is already projected to be spent this year.
5. Manual of Operations
o Linda has not yet created a draft of the Finance portion of the Manual of Operations with the changes agreed to at the January meeting of the Finance Committee. She hopes to get that completed this week
o In addition to the decisions made last month, it was the consensus of the Finance Committee to add the following to Section E.3. Memorial Fund Committee in the portion referring to requests for use of memorial funds- " Requests must be submitted 60 days prior to Memorial Funds being distributed." The Finance Committee believes that the use of these funds needs to be approved in advance which was not addressed in the Manual of Operations currently. And, the 60 day time-frame is necessary to allow time for requests to be processed by both the Finance Committee and the Session. See notes about memorial funds
6. Fund Raiser request
o C.E. requested approval to hold a Rummage Sale June 20-24 (fyi - sale set up will be 5/30-6/19; sale to public will be 6/20-6/23, last chance to buy offered to BRPC congregation 6/24; REAP gleaning 6/25; & pick up/clean up on 6/26) - The Finance Committee recommends that this request be approved.
7. Items tabled from Sandy's agenda - since Sandy was unable to attend due to a minor car accident while heading to the meeting and since Pastor Pat was away those in attendance did not have enough information to take any action on the following items
o Joy Scholarship - seminary students
o Printing of Lenten devotional - we discussed our concern about the amount that some members of the committee had heard this project is going to cost but no action could be taken since we did not have first hand nor detailed information
Next meeting March 12 - 6:30 p.m.
Ed ended our meeting with a prayer.