FINANCE AND ASSET COUNCIL MINUTES – October 18, 2023

Attendees:

Fr. Rob Howe, Pat Regier, Pam Gandy, Dennis Thiel, Andy Pasztor, Judy Gross, Kevin Spencer, Kathy Fothergill

Reported by: Fothergill

Opening Comments:

Fr. Rob updated the Council on the status of the playground. We are in contact with an attorney (provided by the Diocese) who will advise us on the project. We may get some grants (possibly around $30K) to offset the funds we are putting into the project. We plan to add a new member (Cathy Ahearn) to the Finance and Asset Council in the coming months.

Financial Results as of September 30, 2023: Net Assets for the current fiscal year (which began July 1) increased by $20K as total revenue exceeded expenses. Total Revenues, however, were lower than Budget by $21K, due to a decrease in Weekend Collections. October collections have improved, and we expect to close the Budget gap by December. Other Income was slightly higher than Budget due to Interest Income. Our Total YTD Expenses were better (lower) than Budget across most categories, with the exception of Faith Formation programming expenses. Christian Service balance reflects emergency assistance claim payments which were slightly lower than in the prior year, although claims have increased in October. Later this month, a team of parishioners and Fr. Rob will begin the review of grant applications as part of our Christian Service outreach ministry. We received 53 grant applications, including applications from four new groups. We plan to award a total of $125K in grants this fiscal year. Over the past 40 years, we have distributed $3M in grants for Christian Service.

Christ Mission Appeal 2023 kicked off last week. Fr. Rob sent out a special message and video last week. Parishioners should have received a mailing from the Diocese. Our parish target, set by the Diocese, is

$273,030, which is a 9% increase vs. last year.

Facilities Update:

Work Completed – Installed shut-off valves to the former school building. Gym and social hall already have appropriate shut-off valves. The City Council has approved the playground replacement project. Work in Process – Conduct walkthrough of church and parish facilities. Continue to work with the City on playground replacement project including property transfer documents.

With the help of Dick Dolinski, we have applied for grants for the playground replacement project to community foundations and clubs including Charles Strosacker Foundation, Midland Kiwanis and Midland Rotary. Organizations have pledged a total of $40K at this time. Our first meeting with City officials regarding the expected process will be on November 1.

Roundtable:

  • We are still looking for a High School Youth Minister Coordinator.
  • Our annual contributions to Christ Mission Appeal for the last two years averaged $208K. The Diocese has given us an assessment for this year of $273K. The participation rate of CMA (cards that have been returned) in the past few years has been around 25 – 29%. While the number of returned cards has dropped, the average gift has increased.
  • Our next Finance and Asset Council meeting will be held jointly with the Pastoral Council on December 13. Pat Lautner will be making a finance presentation to the Pastoral Council on November 8. Our Council members are invited to join that meeting for Pat’s presentation.

Meeting adjourned at 7:40p.m.