Minutes of the Finance Committee Meeting of November 9, 2016
Present were: KC Bretzke, committee chair, Pastor Walter Lockhart, Carrie Feldman, staff, and members Jan Werness and Carole Megarry.
An Agenda was set. The minutes of the October meeting were approved.
Financial Reports were reviewed. Individual donations are still behind budget and rentals above budget. There was discussion of adding to the Program category the meals program and piano tuning. Carrie has now aggregated certain categories to create a less detailed Profit and Loss Report. WL recommended that at least once per year Fin. Comm. should review the detailed report with expanded categories.
Carrie presented the draft 2017 Budget. Discussion followed as to what figure to use for individual donations, in part since we are uncertain whether we will receive an anonymous year-end donation in the amount of $10,000, which has been received in the last two years. It was AGREED to use a figure of $80,000. The MAC apportionment figure for 2017 will be $15,133. WL’s salary will actually go down slightly due to a reduction in the cost of his disability insurance. Other staff salaries should be budgeted for a 2% increase. WL and CF will look at “supplies” category detail and determine if some of those should be moved into “program” category. It was suggested to add headers for OPERATING expenses and PROGRAM expenses. CF to do the next draft of the 2017 budget.
South Side United Methodist Coalition. It remains possible for the SSUMC to appeal to the local churches for an Advance Special. WL suggested a “combined ask” for WUMC and Simpson, which could be by brochure or email. KC will draft this.
Metro West Builders is extinct, per WL, though there now is Minnesota Builders and Metro East Builders. WL explained that for various reasons, WUMC is unlikely to receive any additional gifts from the Builders.
Estimates of Giving need to be ready to be handed out Sunday, Nov. 13. KC to do the pitch that Sunday and CM the following Sunday.
Powderhorn Empty Bowls had receipts from their recent event of $26,400. There was some confusion over their contribution to WUMC as their fiscal agent. Per WL, this is now a “grant” and not a fixed percentage of their receipts.
Other Business. WL reported that CSM is now “Living Stones”. CF, WL and Jennifer are working on the payroll issues for Living Stones. WL reported that the board of Campus Ministries has agreed that their bookkeeping should be done by WUMC. This will involve a payroll and issuing about 8 checks per month, for which WUMC will be paid.
Minutes by Carole Megarry