Finance Minutes December 13, 2017
Walker Church Finance Committee
12/13/17
Present: KC Bretzke, Jan Werness, Carrie Feldman, Walter Lockhart
Financial Reports: Reports were reviewed. As of the end of November we have a
deficit of $14,000. Rental income exceeds the amount anticipated in our budget.
Individual donations are under budget by $11,400. We usually get extra donations
in December, so this is not alarming. We did receive a $5000 anonymous donation
in December already.
End of Year Transfers: As we have done for the past few years, if there is still a
deficit at the end of the year we will transfer the necessary funds from Reserve to
Operating, or if there is a positive balance in Operating we will transfer the balance
from Operating to Reserve, so that we end the year with a zero balance.
Year End Gifts & Deposits: KC will get a reminder in the announcements about
making year end gifts. To be deductible for 2017 taxes, donations must be in the
office on December 31st or be postmarked by that date. Carrie requests that separate deposit slips be used (1) for money that is actually received or postmarked in 2017, and (2) for money that is received in 2018 and not postmarked in 2017. This will make bookkeeping easier for her.
Apportionments: The Council voted to pay all apportionments for 2017. Carrie
will take care of that.
Promissory Note: We owe $250,000 on a promissory note that is coming due. We
expect it will be renewed in January and we will only have to pay the interest again.
KC or Jan will need to sign off on the paperwork when it comes in.
Estimates of Giving: are still coming in so we do not have a total.
Carrie’s Vacation: Carrie will be gone January 6th through January 15th.
Next Meetings: Please mark your calendars:
< January 24, 2018 at 5:30
< March 28, 2018 at 5:30