Joint Pastoral/Financial Council Meeting

September 13, 2018

PRESENT: Dave Poole, Susan Tugman, Tom Peoples, Wynona Peoples, Linda Gibson, Larry McMahill., Mike Richter, Tammy Gerstner, Greg Leonard, Fr. Khoi.

1. Review of current finances:
   1. General Checking: $7,653.46
      1. $4,441.02 after an anticipated $3,212.44 automatic ACH withdrawal for diocesan bills.
   2. Total Savings: $60,109.94
      1. General Savings: $52,034.66 (1.50% interest)
      2. Maintenance Savings: $8,074.74 (1.50% interest)
   3. Advancement Foundation: $6,138.00 (when 9/4 and 9/10 deposits posted) – As of today, $3,049 with 8/27 deposit posted.
      1. Expected to be $2,138.00 after the September $4,000 payment.
   4. Parish Hall Loan Information
      1. Outstanding Amount: $56,923.86 as of 9/13/2018
      2. Interest Rate: 4.5%; Loan Term: 7 years
         1. $89,993.86 as of 5/30/2018
         2. $33,070 paid since May 30^th (with the $56,923.86 balance)
      3. Anticipated Amount: $52,923.86 after the $4,000 September payment.
         1. Hope to bring it down to $30,000 / $25,000 at the end of the calendar year with steady giving and Fall Festival profits.
         2. Hope to pay off the loan by the end of FY2018-2019.
   5. Summer Financial Updates
      1. Unallocated cash donations on the first weekend will go to the general operation checking account for the loan’s monthly interest. Following weeks of the month’s unallocated cash donations will go to the Advancement Foundation account until the loan is paid off.  We were working on a tight budget during the summer for general operations, but we never had to take money from our savings.
         1. Projected Obstacles: Expected (and experienced)10% lower (gross) weekly collection amounts to quickly pay off our loan.
         2. RESULT: GOAL KEPT with more-than-anticipated $33,070 paid over the summer.
      2. Continue to rebuild the maintenance savings account to its original $10,000 amount. It will be slower, but it is still a priority.
         1. Projected Obstacles: Rising costs with diocesan tax, multi-peril insurance, and employee’s benefits, as well as operation costs – about 5% a year.
         2. RESULT: GOAL DELAYED. Hope to get it done by the end of calendar year.
            1. Reasons: ~$1,500 deductible for the $6,800 water remediation bill. $330 for the plumbing works. Various back-to-school and maintenance expenses.
2. Simple Breakdown of Monthly Profit & Loss (Revenues & Expenses)
   1. Monthly expected revenues: 1^st week – $4,000; 2^nd  week – $4,000; 3^rd  week – $3,600; 4^th weed – $3,200; (5^th week– $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 (Because of the leak. The water bill was much higher this summer) – one week of 1^st collection.
      4. Savings comes from 5^th week (which is often used for catchup), “holiday spikes,” or leftover due to lower bills.
   3. Local Scout and KC Updates
      1. 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 local Scout Unit – in collaboration with the Parish – itemize the items belonging to them. The list will be reviewed, and those items will be photographed and be accounted for when they are ready to make their transition by the end of this calendar year.
      3. The Knights of Columbus is in the process of selling the Hall to the local Scouting Unit. They will probably have a signed contract by the end of December.
3. Parish Pictorial Directory
   1. Everything turned in to Life Touch.
   2. Draft should be here by 9/19.  Linda and Susan will make final adjustments.
   3. Expected completion date: October 2018, before the Parish Fall Festival.
4. October 6 Service Project to Benefit Meals on Wheels
   1. Mike Richter is the chair
   2. Meal Service – 5:30PM-7:30PM at the Parish Hall.
   3. Cooking will start at 3PM.
   4. Meal Delivery will begin at 4:45PM.
   5. Chicken Express will donate the iced tea.
5. Parish Fall Festival
   1. Mike Richter is the chair for this event also.
   2. Parish Fall Festival – Sunday, October 28, 2018.
   3. This is also Mission Appeal Weekend for a Diocese in Ghana.
   4. Regular To-Do Items:
      1. Raffle prizes and tickets: We will do three prizes ($500, $200, and $100).  Tickets will reflect sponsors.
      2. Silent Auction items: Will reach out to the altar society.  Will invite parish member to do baskets for the auction.
   5. PR and local churches.
   6. Kitchen items – more workers are needed in the kitchen and sausage cooking.
   7. We will do parish t-shirts again in blue.
6. No other questions or remarks.
7. Meeting adjourned.