Finance Council Minutes - July 27, 2023

Mary, Mother of God Parish   
Finance Council   
Meeting Minutes for 7/27/2023
St. Ita Jubilee Hall – 7pm 

Attendance  

• Members present: Father Alejandro Lopez, John McCarthy, Magali Duvivier, Andrew Welling, Carol Hanson, and Don Haider
• Members Absent: Joe Jacobs, Jim Muss and John Kryl  
• Ex Officio Members Present: Ed Stranc 
• Ex Officio Members Absent: Christine Boyd 
• Staff Present: Stuart Boldry and Yasmin Hernandez 
• Staff Absent: Dorothy Julian and Mark Franzen 

  
Council members received earlier via email the agenda, the minutes of the June meeting and the financial statements and reports.   
  
The meeting began at 7:01pm with Father Alejandro leading us in prayer.  
  
Meeting Minutes 
 Don Haider made a motion to approve the minutes, seconded by Andrew Welling. The minutes were unanimously approved.
 
Updates from Father Alejandro 

• A new friar has been assigned to us, Brother Tarcisius. He was at the Parish briefly when the friars first arrived. He will be teaching at a school outside of the parish.
• Repairs to the bathroom and other areas in the friar's residence are underway.
• Catholic Charities notified us that effective after 9/30/23 they will cease operating the Food Pantry at St. Thomas of Canterbury. Catholic Charites is running a large financial operating deficit and is cutting back in several areas. They contend that the area is “over served” and that there are other options available for people to obtain food. As of now, there has not been an official announcement made. The Council decided upon a communication timeline to let the volunteers, staff and parish know and established a Food Pantry task force to determine how to proceed next. The first meeting was scheduled.

  
Financial Report 

•   Operating Revenue and Expense Results
  • Operating results: June’s books are not yet closed.
    • Waiting on Accounting Services to finish month end entries.
• Other income was $426,030 versus $1,391,480 a decline of $965,450 or 69.38% (lower estate/bequest donations)
• Other expense was $347,451 versus $631,573 a decrease of $284,122 or 44.99% (lower capital improvements and Other Extraordinary expenses)
• Net other income was $78,580 versus $759,908 a decrease of $681,328 or 89.66%
• Operating and Extraordinary Revenue and Expense Results – TBD
• Cash and Investment on Hand - TBD
• Long-Term Debt – None

 

• Key Issues/Projects/Updates
  • Annual Report is due at the end of September
  • Give Central consolidation is still in process, anticipating completed in the next two
  • Months.
  • Further redesigned spreadsheet producing Capital Plan and Budget report. Greatly simplified.
  • All Archdiocesan Bank balances except for the investment accounts are invested in 1-year CDs. No penalty for early withdrawal of funds used for capital projects.
  • The bank consolidation process is moving forward.

 
Stewardship Report 
The 2023 Annual Catholic Appeal has almost tripled our goal for $56,000 with $152,708 pledged and $127,527 paid against those pledges. Outreach in May $9,019, June $9,364, and July $1,868. The Give Central contribution in June was $19,052 and in July to date $19,659. Give Central will now be moving to one account Mary, Mother of God. Tastes of Summer thus far has a total income of $18,000 but there are still expenses outstanding. Regardless, the event is projected to bring in $22,000.
 
The fundraising committee has set a list of priorities:

• Increase the number of Give Central users
  • Conduct a campaign, bulletin announcements, appeals on the website and volunteers in the back of all the churches after Masses
• Double electronic giving
  • Put QR codes in missalettes and on the monthly financial report in the bulletin
• Maximize Christmas, Easter, Food Pantry/Soup Kitchen giving
• Increase the revenue from existing fund-raising efforts
• Work with the Parish Council to develop a parish census

  
  
Buildings and Grounds Report 
The capital projects projected total cost went from $148,000 to $200,000. Fewer projects under $10,000 which are not considered capital. Going forward in either January or February the B&G committee will meet to discuss what projects need to get done for the next fiscal year, so we have a sense of the carryover projects along with the new ones.
 
Cultural Center Update 
Sarah Crow will be doing a church tour of St. Ita. In the Fall there will be a poetry session with Peter O’Leary. Also, Fr. Bob Sprott will have a session on the major works of Teresa of Avila. Scott Moringiello will also be teaching a course on the 20th century Catholic workers.
 
School Update
None
 
Old Business 
None
 
New Business 
The March 28 meeting will have to be moved since it falls on Holy Thursday. The Finance Council Committee has decided to implement a Food Pantry Task Force to handle the transition of Catholic Charities vacating St. Thomas.
  
The meeting ended at 7:53pm with Father Alejandro leading the council in prayer.

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