Joint Parish Council/Financial Council Meeting

May 31, 2018

Present:  Winona Peoples, Tom Peoples, Suzan Tugman, Larry McMahill, Dave Poole, Larry Brady, Mary Brady, Greg Leonard, Richard Pfeffer, Tammy Gerstner, Fr. Khoi

1. Review of Current Finances
   1. General Checking $11,328.93
      1. $8,089.21 after anticipate d$3,239.72 automatic ACH for diocesan bills.
   2. Total Savings $58,613.24
      1. General Savings $51,774.75 (1.50% interest) -- About $60-$65 in monthly interest
      2. Maintenance Savings $6,838.49 (1.50% interest) -- About $6-$9 in monthly interest
   3. Advancement Foundation $7,549.00
      1. $15,000 loan payment on March 4, 2018 with $14,793 to the loan’s principle amount.
2. Parish Hall’s Loan Information
   1. Outstanding Amount $89,993.86 as of 5/31/2018
   2. Anticipated Amount $75,200.86 aft the 5/24/payment
   3. Interest rate 4.5%  Loan Term:  7 years
      1. Each month after the 1st weekend’s 2nd collection for Debt Elimination the current amount in the Advancement Foundation account will be checked, and then the monthly payment will be made.
      2. Loan interest must be paid from the Parish’s general operating/checking account.  The amount is estimated to be around $300/month.
3. Next Fiscal Year’s Financial Strategy
   1. Unallocated cash donations made on the first weekend of each month will go to the general operation checking account for the loan’s monthly interest.
   2. The following weeks’ collection of unallocated cash donations will to the Advancement Foundation account until the loan is paid off.
   3. Continue to rebuild the maintenance savings account to its original $10,000 amount. Hopefully at least $250 per month.
      1. There are rising costs with the diocesan tax, increase in multi-peril insurance, and employees’ benefits, as well as high operation costs – about 5% per year.
4. Summer Implementations to cut costs
   1. Expect drop in collections during summer – due to travels and irregular attendees.
   2. Here are some cost-saving measures:
      1. The office close early on Friday at noon
      2. Thermostat and HVAC equipment are optimized for the summer schedule.
      3. Summer activities, including outside of the parish you activities, are more donation-based to help alleviate the costs.
5. Simple Breakdown of Monthly Profit & Loss /Revenue & Expenses
   1. Monthly expected revenues:
      1. $1^st week - $4,000; 2^nd - $4,000; 3^{rd -} $3,600; 4^th - $3,2000 (5^th - $3,000)
   2. Monthly expected expenses:
      1. Diocesan tax, multi-peril insurance, and charges - $3,200-$3,500, which is one week of 1^st collection.
      2. Payroll and benefits – two weeks of 1^st collection.
      3. Utilities and parish bills – one week of 1^st collection.
         1. Savings comes from 5^th week (which is often used for catchup), “holiday spikes”, or leftover due to lower bills.
6. Local Scouting Unit Resolutions
   1. The Parish met with the local Scouting Committee members on Monday, May 21 to discuss new diocesan regulations and expectations.  The meeting was cordial and positive in a very respectful manner.  The local Unit (600) has decided to seek a new home.  It is hard to charter them in consideration of the new diocesan policies and changes.
   2. The Chancellor, Msgr Hart, instructed that the Scout Unit – in collaboration with the Parish – itemize the items belonging to them.  The list will be reviewed and photographed and will be accounted for when they are ready to make their transition by the end of this calendar year.
7. Family Fun Day and Vacation Bible School
   1. Family Fun Day kicks off Vacation Bible School week with Family Fun Day, Sunday, June 10, at Permian Park and Boomtown Water Park.  All three Parishes are invited to attend.  Event begins at 5pm at Permian Park with hamburgers and hotdogs.  Parishioners will bring side dishes.  Boomtown Water Park will be available after 6:30pm to the first 100 participants.
   2. Mary Brady is coordinating Vacation Bible School, which will be held from Monday, June 11 thru Friday, June 15, from 6pm to 8:30 pm.  Location will be the Parish grounds.
      1. Mary reported that as of May 31, there were VBS 21 volunteers, and 11 participants signed up.   They will start set-up/decorating June 1.  They are going thru volunteer list to make sure everyone is Safe Environment certified.  The online program good for 3 years; the new face to face program is good for 2 years. 
8. Parish Pictorial Directory
   1. Pictures have been taken.
   2. Suzan Tugman is working on the activities pages.
   3. Linda Gibson will work with LifeTouch concerning the next step.
   4. Expected to be ready by October 28 for the Parish Fall Festival.
9. General Pastoral Vision

            FY2015-2016  - Community

            FY2016-2017 – Discipleship

            FY2017-2018 – Service

            FY2018-2019 – Faith

            FY2019-2020 – Hope

            FY2010-2021 - Charity

X.  Questions:  No questions

Meeting adjourned.