Attendance: Fr. Brendan, Barbara, Linda, Randy Redwitz, Donna Upton, Stephanie Espinosa

Finance Meeting Minutes 04/25/2016

Opening Prayer: Fr. Brendan
Randy brought wine and crackers.
Stephanie Espinosa decided to stay on the Finance Board for one more year.
Minutes approved from April 12 2016 meeting.
Faith Formation and Youth budgets presented by Donna Couch and Laura Schuberg, Youth Minister, and their liaison, Stephanie Espinosa.
Religious education, children ministry is renamed Family Faith Formation Program, Confirmation Income to be changed to Confirmation Retreat Income, Jr. High Ministry to be changed to Middle School Program
VBS is now a part of the FF Budget.
RE Program income reduced to a more actual number. Administration expense line will now include paypal fees eliminating Miscellaneous expense line item.
Distribution to the Church is $25k leaving a deficit budget of $6.8k.
FF Budget was approved.
Extended discussion on whether we should specifically identify Confirmation and First Communion actual tuition income instead of just as RE Income. Argument in favor would be to keep track of programs’ actual costs. Argument against was that all the tuition collected is used for every program as needed. The financials would always show nothing as balanced. The income is only identified for internal use for registering purposes and identifying which program the child is enrolled in. Retreat costs are a separate expense to the parents and under Confirmation Retreat Income.
Youth Budget presented by Laura Schuberg. Youth Ministry income of $4786 was reclassed from reserve to cover expenses. If not needed by year end it will be put into reserves. No income is budgeted for that line item. Activity income is more in line with historical actuals along with the Activity expense. No other major changes proposed and the Budget was approved.
Church budget presented by Barbara/Linda. Keeping the income conservative, budgeting Sunday income the same as last year, increasing Easter by $5k, reducing Facilities Rentals and Votive Candles and wedding income. Ordinary Income total is slightly reduced from last FY. Due to no COLA increase this year, all salaries remained the same. Faith Formation clerical was increased by one part time person and one part time person being made full time with benefits. All other payroll expenses except Medical remain the same. The Fixed Asset schedule was cleaned up by Linda, eliminating items that no longer are being used or have ended their depreciated life. She added in the new church renovation items, bringing the expense close to the previous year. Projected depreciation amounts are Church $376k and Rectory $23,641. Building fund was increased by $10k making it $450k for next FY. There is no accrual expense required for this year’s PSA.
Capital Items: Land improvement mainly consists of drought tolerant landscaping, subsidizing the field installation, SF landscaping, Meditation Garden and other areas of the plant that we can convert to drought tolerant landscaping. Church budgeting one AC unit $25k; School, upstairs hallway flooring, Two AC units, some asbestos repair in Teacher Lounge. Technology: 6-7 IPads for Music Ministry, computers for SF Faith Formation and Christian Service Office; SF Advent Stand $1k
Line items renamed: Social Activities to Staff Relations; Lease income to Rental Property Income and Rental Property Expense; Under Rectory expense, Utilities-Telephone to Utilities Internet/Cable;
PSA is going strong and unofficially the pledges are at $281k.
Social Justice restricted fund to be reclassed into Christian Service Income.
Credit Card rewards income to be used to offset bank and credit card processing fees.
Land Issue for Church original purchase: Diocese transferred over property 7/31/2012.
Next meeting is Tuesday, June 14, 2016 at 6 pm.