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.
Respectfully
submitted,
Linda
Schumacher
