June 2015

Finance Council Meeting Minutes:

Tuesday, June 30, 2015

Present: Rob Twist, Fr. Dan Noll, Joe Beavin, Frank Hsu, Ron Wedding, Scott King, Walter Leachman, John Tibe, Cheryl Gatzmer, Michael Carpenter, Martha Casher, Yara-Torres Anderson, and Julian Gorham.

Not Present: Tony Pescatore, Bill Richer, David Gadberry, Donald Vittitow, and Becky Brown

Meeting commenced at 7:30 am.

• Prayer – Scott led the monthly parish meeting prayer.

• Father Dan Noll comments/updates – Fr. Dan thanked Cheryl for her dedicated work on various committees and the Finance Council and welcomed the new members (Yara and Julian) to the Council. He also reserved comments for later throughout the meeting.

• Approval of the May 26, 2015 Minutes – Cheryl made a motion to approve, Joe seconded.

• Finance Committee Reports:

1. 2015-16 Budget – Walter reported that the only change to the final approved budget by Fr. Dan involves an increase in the Evangelization budget from $10,000 to $20,000. This affects the general maintenance and capital reserve from $181,603 to $171,603. The pre-enrollment numbers for the school are significantly lower that budget. The school finance committee will be reviewing the numbers again in early August. Becky has already started making plans for any adjustments.

2. Education Life Center refinancing update – The May 26th meeting for the first reading went without any opposition. The bond paperwork is due to be signed today at 1:15 providing the legal opinion is acceptable.

3. Long-Term Debt task force revisions – No report. Once the 2015-16 budget is input and actual figures for June are ready, then Rob will update the model.

4. Facilities & Maintenance – Cheryl reported on the new carpet and tile has been installed in the perimeter rooms and gathering area of the church; the lighting in the sanctuary continues to be an issue; Martha has been working with Perfection on utilities for metrics and verification testing; the facilities project list has been a work in process; the facilities map is in design process by Tim Cambron at Ruggles Signs, as requested by the Task Force for Evangelization committee.

5. Governance – Frank Hsu has been named as the chair for 2015/16. Fr. Dan has asked members to give him a name of someone who would be a good recorder. The voting members are to be determined.

6. School Finance – The past dues are over $100,000. The school finance council is revisiting the policy and process to improve this situation.

• 80/20 split - The parish received a special donation of $50,000 that enabled MQ to meet its offertory and capital budget. The impacts of the 80/20 will be adjusted accordingly.
• Diocesan Annual Appeal - Follow up letters were sent on June 10th to parishioners who pledged last year but have not pledged this year.
• May month-end financials/variance reports – The financials and variances were reviewed.

Next Meeting – ??? TBD

Meeting adjourned at 9:05 am.