Finance Minutes December 7, 2018

Minutes Walker UMC Fin. Comm. Meeting December 7, 2018

Present were: Pastor Walter Lockhart, Staff Carrie Feldman, chair K.C. Bretzke, and
members Jan Werness, Carole Megarry, Linda Berglin and incoming chair Sally Kuehn
K.C. presented agenda items and other items were added to that.
The minutes of the Nov. 9 were reviewed by email circulation and approved
KC noted she still needed to send copies of all the 2018 minutes to Jacquilyn to be put up on
the website.
The Finance reports were reviewed. We are still down about $17,000 from the amount of
budgeted individual donations. This is despite having received donations sufficient to match
the $2,000 match incentive. Question was raised as to what amount of interest may have
accrued on the RBC (parsonage sale) account. It was agreed to move whatever interest
amount exists to our operating account.
New City has tentatively agreed to pay more rent on the condition that NC has more access to
the sanctuary. WL and NC pastor are to meet about this during this week. Assuming they
reach the agreement under discussion, we could budget $10,000 rental income from New City.
Sally will make an announcement on Sunday reminding everyone to get their donations in to
the office by Dec. 31, or minimally, make sure they are post-marked no later than that date.
Distribution of the Hograbe memorial funds are still under discussion by her husband and
Carrie explained that her travel plans will take her out of the office from Jan. 5- March 6 of
2019. She will get the year- end payroll reports prepared before she goes. Jacqui has been
trained on payroll and is able to prepare that in Carrie’s absence.
The committee reviewed the proposed 2019 budget which had been worked out by CF and
WL. We again discussed the new pastor’s salary range. We could continue to operate based
on income similar to recent years even with a half time pastor, but if we do so we would draw
down substantially all our reserves. It may be possible to reduce some non-pastoral staff
expenses. This would fall to SPPR, but the Finance Committee recommends to SPPR that this
be considered because it is clear we cannot carry the existing personnel expenses without
increasing our income. Electric utility costs are very high. The air conditioning needs to be
CF and WL should revise the estimated budget based on the committee discussions and
observations. In particular, the budget should be revised to reflect more realistic income of
$75,000 for individual donations, increase rentals to $16,000, plug the deficit $16,619 into the
“unknown” slot instead of apportionments (leaving apportionments out of the budget).
Expenses should be revised to reduce the phone expense to $3,000, reduce “other staff” to
$44,000 (asking SPPR to preserve the 4 hours/week for the Finance Assistant but reduce the
rest of “other staff” salaries and benefits by $5,000) increase the Pastor salary to $45,000 for
a half time pastor.
CF should review the estimates of giving thus far received and estimate what the 2019 giving
would be based on the estimates.
We discussed the proposed contract for the Promissory Note terms. The church council must
approve its terms, which require that interest payments of $562 per month begin Feb. 13,
2019. Fin. Comm. recommends its approval.
Jan let the committee know that she encouraged Carrie to pay the full year tax assessment
when the bill first comes in. It is payable in two parts, but the county does not send a second
bill for the October payment, so it is easy to forget and thus incur a penalty.
We discussed making a contribution to the MN . Builders’ Fund which has made a request in
the amount of $490. There was resistance to paying this, at the same time as it was
acknowledged that WUMC has benefitted greatly over the years from the Builders’ Fund and
that it seems ungrateful to not make a contribution. MS to make the payment. MSP to amend
the Motion to pay one half or $245.
The meeting was adjourned at 3:30. Next meeting will be Jan. 18 at 3 p.m.
Respectfully submitted,
Carole Megarry