Walker Church Finance Committee
Present: Lulu Philips, Jan Werness, Jennifer Gahnstrom, K.C. Bretzke, Pastor Walter Lockhart
Finance Committee Membership: K.C. wants to join the committee. She is willing to serve as chair starting March 1, 2015. Lulu volunteered to stay on as chair until then. Lulu will leave the committee as of 3/1/15, but will continue to serve as emergency back-up accountant to Jennifer.
Fundraisers: Lulu volunteered to organize rummage sales and silent auctions for 2015. K.C. will coordinate the 2015 Art Fair.
Deposits: Carole will continue to do Sunday deposits with Jan as back-up. If neither is available the money should be locked in the file cabinet.
Financial Polices & Responsibilities List: Jennifer will update these for 2015.
Automatic Bank Transfers: Some people have requested the ability to transfer money automatically on a monthly basis from their bank account to Walker Church. The cost is $20.00 per month plus $.15 per check. All transfers will be done on the same day of the month. It is hard to say if this will increase revenue. Other options for automatic payments are PayPal or a “Square” on a cell phone which would automatically make monthly charges to a credit card. Pay Pal charges 2.56% of each transaction but has no monthly fee. We agreed to try the automatic bank transfers on a trial basis.
Budget: Jennifer made some tweaks to the budget. Jan moved, K.C. seconded, that the revised budget for 2015 be approved. Motion passed unanimously.
YTD Financial Report: The income and expense reports for January through November were reviewed.
Rentals: It was noted that if members pay to use the building it will be listed as a donation, not as rent. Lulu will check the state website to see what is required for adult day care. We should continue to look at this idea and other services that could fit with our mission. We are looking to be a rental site, not to have the church run the service.
Christmas Appeal: Walter will draft a Christmas appeal.
End of Year: As we have done for the past few years, if there is still a deficit 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.
Minutes by Jan Werness