Attendees: Fr. Rob Howe, Pat Regier, Pam Gandy (via Zoom), Dan Kozakiewicz, Dennis Thiel, Joe Dostal, Kathy Fothergill
Reported by: Fothergill
Financial Update
Financial Results as of September 30, 2022: Total Net Assets increased by $191K for the current fiscal year which began July 1, 2022. The increase was largely due to a $140K payment from the Employee Retention Tax Credit (ERTC), a Federal program designed to keep employees on the payroll during COVID. We will likely see another refund in the coming months, which is estimated to bring the program total to $315K.
Christian Service balance decreased by $4.8K because of emergency assistance payments Fiscal YTD. Father Rob and a team of parishioners will begin the review of grant applications as part of our Christian Service outreach ministry. Annual grant payments will increase from $115K last year to $125K because we increased our Christian Service Tithe last year from 8% to 10% of Weekend Collections. The Parish has funded this ministry for over 40 years.
First quarter (July – September) Weekend Collections were $6K ahead of Budget. Other sources of revenue were higher because of the ERTC credit, which is not included in the Budget. Total Expenses through the first quarter were better than Budget in all major categories other than Utilities, which increased due to higher electricity usage and rising natural gas prices.
Our Christ Mission Appeal target assigned by the Diocese for this year is $250,375, which is a 5.9% increase over last year’s target.
In October, the Parish received a donation of $126K from a former parishioner’s estate. The gift has been deposited in our Major Expenditures Fund, which best represents our large and unusual expenses.
Weekend Collections are tracking ahead of budget through September, and this trend has continued into October.
Facilities Update:
Work completed
- Church carpet installation was completed September 2022. Cost $107K
- Church mail entrance pavers and staining. Cost ~$19K
Work in process
- Assessment of south building (former school), gym and social hall heating equipment
- Asset sub-team includes Joe Dostal (lead), Dan Kozakiewicz, Pat Regier
- Engineering consulting firm completed a deeper review August 30, 2022
- Obtain estimates to install shutoff valves to the hot water supply for the former school area (gym and social hall already have appropriate shutoff valves). Valves will be installed Spring 2023. Once valves are installed, we will be able to isolate the south building if there is a break.
- Parish west entrance – Sugar Construction has committed to replace concrete that has shown pitting and flaking. Target completion – 3 to 4 weeks.
Roundtable:
Father Rob reported that the Arnold Center will be utilizing two classrooms from the former school building. The rooms will be used by the Arnold Center for Life Skills classes and Art classes. Midland County ESA (Educational Service Agency) will also be utilizing two classrooms for their some of their staff while their current building is undergoing renovations during the next two years.
There was some discussion about unauthorized (not Church related) use of the parking lot at night, often by teenagers. There was further discussion about the size of the parking lot and whether there might be a better use for some of that property. This discussion was very preliminary.
There will be no meeting of the Finance and Asset Council in November. Next meeting will be held jointly with the Pastoral Council in December.
The meeting adjourned at 7:45 p.m.