FINANCE AND ASSET COUNCIL MINUTES – March 23, 2022
Attendees: Fr. Rob Howe, Patrick Regier, Andy Pasztor, Mike Erickson, Dan Kozakiewicz, Kevin Spencer and Pam Gandy
Via Zoom: Kathy Fothergill
Reported by: Pam Gandy
Opening Comments: Fr. Rob once again approached the Bishop about the Virtus program with regards to the Legacy Center using the school for its programs. If the Legacy Center is allowed to use the space without the Virtus requirement they may make the move.
The Diocese is working with the parishes to see if we qualify for the Employee Retention Credit (employee payroll tax rebate). If so, the Diocese will assist us in getting the credit.
Joe Dostal is interested in being on the Council. Fr. Rob/Patrick will extend an invitation to our next meeting
The pew and floor project will be completed in the next 2 weeks, several weeks ahead of schedule.
The 11:00 outdoor Mass has ended. In the future, outdoor Masses may be scheduled but at this time none is planned.
February financial results: Net assets increased by $50K. the Christian Service Tithe balance reflects in our commitment to increase our tithe to 10% of weekend collections.
In February, $115K in Christian Service grants were awarded to forty-three organizations. It was noted that we have been doing this program for 40 years and have donated over $3 million in grants.
February collections were $8K above budget. Year to date collections are ahead by $37K. Other revenue sources (memorial donations, programing fees and miscellaneous income) are under budget by $40K. Expenses were lower than budget. Payroll costs were lower than budget. This was offset by higher utility and emergency assistance expenses. Emergency assistance requests have increased significantly over last year.
We are three quarters through the year. It is expected that we will finish at budget or slightly above.
We have not met our Christ Mission Appeal goal for this year. We are at 81% of goal or $41K behind. Approximately 100 letters were sent to parishioners that pledged in prior years but have not contributed this year. If we do not make the goal the remaining funds will come from our Parish Fund.
Preliminary 2022-23 Budget Assumptions:
A midyear recognition award to full and part time employees ($400 and $200 respectively) in April was approved. Approximate cost was $7,900.
For this fiscal year collections were higher than budget. We will be using the 2021-22 actual collections for the 2022-23 budget.
The council approved a 6% salary increase. This will put the employees whole with respect to the 20-21 budget where no increases were made (yearend recognition awards were made). Last year the Diocese recommended 3%. Council decided on 4%. The Diocese guideline was 3.5% plus a midyear increase if possible. Council approved the 6% to take effect in July.
Medical insurance will increase 3 to 5%.
Facilities Update – Church Carpet Approval:
|Northeastern Paint – Saginaw, Michigan||$102,689|
|O’Connor’s Decorating – Saginaw, Michigan||$99,672|
|Everett Carpet – Midland, Michigan||Did not provide|
The proposals were reviewed. Three companies were asked to submit a proposal. Northeastern Paint (Saginaw) bid was $102,689. O’Connor’s Decorating (Saginaw) bid was 99,672. Everett Carpet (Midland) declined to bid. The difference in the bid amounts were discussed. Ultimately, the council decided to go with Northeastern Paint because they have their own employees (O’Connor’s uses contractors), and Northeastern Paint installed the carpet that we have, and they have employees that have the technical expertise required for our complex layout.
Melanie Evans (designer/parishioner) assisted with the color and design choices.
A motion was made to approve the Northeastern Paint bid. Mike Erickson approved, Dan Kozakiewicz second the motion. Council approved with no disapprovals.
Round Table: Dan discussed that the leak left of the Alter is coming from the stained glass. This will be addressed in the near future.
The council went to the church to look at the carpet samples. A vote was taken, and it was decided that we would go with the olive (VS teal) option.
Meeting Adjourned at 8:30