FINANCE AND ASSET COUNCIL MINUTES – January 19, 2022
Attendees: Fr. Rob Howe, Patrick Regier, Andy Pasztor, Judy Gross and Pam Gandy
Via Zoom: Cathy Fothergill
Reported by: Pam Gandy
Opening Comments: Fr Rob had no opening comments. He will comment during the meeting.
2nd Quarter Financial Results: Fiscal year to date (7/1 – 12/31), Net Assets increased $175 K. The majority of that was excess Weekend Collections (102K). We did receive a one-time contribution of $14K. Christmas Collection was the highest since 2016.
Major Expenditures increased by our tithe amount ($12,500) but will decline significantly as the church pew and floor projects wind out.
The School Dedicated fund was closed out. Our 2-year commitment to support a teacher at St. B’s MACC tuition subsidy ended. Currently, we have 18 students at St B’s. Many are in kindergarten and first grade. We will continue the subsidy of $1,000 per student, but that will come from the Parish Fund.
In February, the Christian Service Committee will be meeting to award $115K in service grants. For the current fiscal year, the budget was increased to 10%. The amount will increase from $120K to $175K.
Weekend collections for the 2nd quarter were better than budget by $21K. Expenses were better than budget except for repairs and maintenance and furnishing and equipment. In spite of the wintry weather, utilities were in line with the budget.
The 2nd quarter results will go out next week in Flock Notes and the Bulletin.
Christ Mission Appeal Update: We are halfway through the 2021 appeal. Our target is $236,595 (15% increase from 2020). As of December 31,2021, we have received 73% (175K). Participation is ½ of the normal amount. We did have the same number of cards as in 2020. If we are short, we will have to pay the shortage.
A second letter was sent by the Bishop in December. At that time there was an uptick in contributions.
The plan is to conduct another drive in February by having blank cards available in at coffee and donuts.
Facilities Update: The pew project started on 1/4/22 and is expected to be completed in 8 weeks. New carpet installation is in preliminary planning. The estimated cost is $85K. The current carpet is approximately 14 years old. We are working with an interior designer (Melanie Evans, parishioner) to assist with selections. Under consideration are the use of 2’x2’ squares on in the pew area. That would allow for replacement of tiles as needed. The alter and step would be regular carpet. We will need Diocese approval. Council gave approval to move forward with the project.
We did have a heat issue that could have caused considerable damage. Fortunately, the original backup was able to be used.
Round Table: There has been no tenant interest in using the school at this time. This summer we will let various nonprofits know that there is space available. Maureen Donker has offered to assist with this. At this time, the youth ministries are using the school.
They will be a meeting next week to discuss St. Vincent De Paul project. There are approximately 8 people interested in the project. I someone steps up to take the lead then we will move forward, if not we will pass. Fr Rob indicated either way was ok with him.
Meeting adjourned at 8:20.