Category: Annual Meeting 2023

The decade-long run of bull markets came to an abrupt end in 2022. A moderating pandemic ushered in a surge of pent-up demand for goods and services. Coupled with labor shortages and a spike in world oil prices brought on by the Russian invasion of Ukraine, the resulting economic inflation stoked fears of a global recession that caused the major investors to move money out of the stock market to investments with a greater return potential (eg bonds, gold, oil). This led to losses in the three major indices. The tech-heavy NASDAQ index was down 33%, the Dow industrials down 10%, and the Standard & Poors index down 25%. As went the world market so went individual portfolios. The church was not immune to the end of the bull market. However, due to its well-balanced position within the market, the losses the church incurred were not as severe as the major indices. As of December 31, the church’s portfolio was down a respectable 14%. Bearing in mind the recent consecutive years of double-digit gains, the church remains well-positioned to carry out its mission and basic needs. The Trustees continue to develop our relationship with John Sherman’s successor at Edward Jones, Bruce Wallbridge, and feel we are being well-advised by him. Highlighting the outcomes of expenditures supported by its investments was the completion of three more stained glass windows which brings the total restoration to four windows.

As past year’s gains have been distributed across the church’s funds so now must its losses. Expenditures and losses for 2022 totaled $221,101.71. The Trustees propose to distribute that total in the following manner (figures in parenthesis indicate a negative value):

Fund	Prior Balance	Designated Income	Expenses	Allocation of Gains	New Balance with Gains
Endowment	$     749,782.17	$ –	$ –	$    ( 109,296.44)	$ 640,485.73
Housing	$ 254,256.05	$ –	$ –	$      (37,063.14)	$ 217,192.91
Firm Foundation	$ 285,906.12	$ 1,300.00	$ –	$      (41,866.30)	$ 245,339.82
Enrichment	$ 88,360.33	$ –	$ –	$      (12,880.37)	$  75,479.97
Gage Fund	$ 181,620.45	$ 200.00	$ (44,650.00)	$      (19,995.46)	$  117,174.99
Total	$ 1,559,925.12	$ 1,500.00	$ (44,650.00)	$    (221,101.71)	$ 1,295,673.41

Respectfully,

Dean King, Chair, John Buck, Vice Chair, Carla Lawrence, David Cutler, Lew Petit

Cindy and Diane continue to be co-treasurers, observing a financially sound practice to have two people managing the books and cash for the church. The treasurers’ job in 2022 was a combination of paying bills, managing payroll, producing financial reports for the Finance Committee and Council, recording all deposits made by the Financial Secretary, reconciling our accounts with the bank, and keeping the check register up to date. 

Last year (2021) we didn’t have to transfer money from our endowment to meet all our financial commitments.  Again, in 2022 we did not need to ask the trustees to transfer money from the endowment that was budgeted ($14,875.80) because the Paycheck Protection Program grant infusion from the previous year, along with your generosity, carried us through 4,130.20. the year.  All bills are current and paid.  We met all our responsibilities in 2022.

In order to manage cash flow for this upcoming year the line item for a transfer from the endowment will remain.  Diane and Cindy will be able to request a transfer of funds without having to go to the congregation for a special meeting.  If we don’t need the cash, we won’t conduct a transfer. 

Over the last two years compared to previous years, we reduced the budgeted amount for Rent and Fundraising due to the Pandemic.   Actual Rent for 2022 surpassed our budgeted amount but Fundraising did not bring in the income we budgeted.  Pledge amount for 2022 also surpassed the budgeted amount.  The 2023 Pledge drive produced an increase of $2,368 over last year’s Pledge drive.  Thus, we increased the Pledge budgeted amount from $140,000 to $142,000 for 2023.

The following Expense categories finished under budget in 2022:  C.E. Expenses (1,080.25); Deacon Expenses (3,536.40); Outreach Expenses (664.67); Parish Administration Expenses (154.08); and Finance Expenses (203.87).  Pastoral Expenses ($163.57) and Building Expenses ($1,345.5) went over budget for 2022.  Total expenses for 2022 were under budget ($4,130.20).

We wish to conclude this report with what we call the treasurer’s mantra: “Your financial support of the church is admirable.  Please keep those pledge commitments coming in on a regular basis.  Having a clean, sufficient cash flow makes this job doable and keeps our church on a sound financial footing.  Thank you all!”

Cindy Senning, Co-Treasurer

Diane Leavitt, Co-Treasurer

The start of 2022 saw our small, but mighty group of church school children meeting with me in the dining room. This allowed us the space to spread out, just in case the cursed COVID was a lingering issue. As with the rest of the congregation, we were ready to pivot to remote meetings should the county COVID numbers require it. And we did need to do that, occasionally.

We spent the winter and spring months continuing to work on creating a book in response to the We are the Church banner. We spent time talking about the banner phrases, watching videos connected to the themes, writing poems and stories, and creating artwork in response to the words on the banner. We also set personal goals related to each phrase. While the book is not yet ready for publication, it will be soon!

After the summer break, church school started up again in September. Because of questionable COVID numbers in the spring, we moved Children’s Day to the fall. We were treated to the wonderful storytelling of Simon Brooks. Simon had been with us a few years ago, and I think that everyone enjoyed his return visit. It was a great way to cap off last year’s church school theme of “Story.”

In October and November, we moved our meeting space to the third floor and continued working on our book. I was thrilled to see a few new kids joining us. Hopefully, we can build upon this to get even more families to worship with us.

In December, as every year, we focused on Advent and Christmas. On December 4th after worship, we hosted an Advent craft activity for families where we made Advent calendars of kindness. Each day on the calendar was a pocket where you would find a suggested kindness activity, such as:

• Compliment 5 people today.
• Walk your neighbor’s dog.
• Call a relative or friend who lives far away.

The idea is that these actions would be easy ways to create kind habits and think of others during the Advent season.  It was a wonderful afternoon filled with felt, glitter, hot glue, laughter, and pizza!

We were able to continue the tradition of a live nativity on December 16th. We had a full cast with at least a dozen children, and three adults filling in some crucial roles. The weather did not follow tradition; it was actually warm enough to stay outside for the entire show without kids crying because of the cold. Thanks to all who came to hear the words, sing Christmas carols and watch the story come to life. A special thanks to the parents who got all the children into costumes and ready to go while I was locked out of my house and car.

As we begin a new calendar year, I am hopeful for the future of our church school. We have had some weeks where, for various reasons, numbers were quite low and I wondered if we could continue. However, recently, attendance has been up. The children who do come are generally happy to be there, and always willing to go along with my plans. I am excited to finish our book and then start a new project that will show our kids that being a good and caring person can be fun. If you know of any families with school-age children who might be looking for a church to call home, I encourage you to suggest that they give us a try.

I must thank Peter and the Board of Christian Education for their support and encouragement. A special thank you goes out to CE Board member Dan Senning who has been staffing the nursery for months. Thanks to all the parents who allow me to spend Sunday mornings with their children and who show up for every event that we plan. My sincere thanks to all the members of this congregation who, in spite of relatively few children, recognize the importance of committing to a church school program.

Respectfully submitted,

Lori Morse

The Finance Board has continued to meet regularly throughout the year It was vital that the Board keep track of the church finances as the financial operation of the church continues in several categories even during the ons and offs of a pandemic.

At every meeting we review several things:

1. Budget versus Actual – we check out how we are doing percentage-wise relative to our budget. We look for categories that are off base If we are 50% through the year are we at 50% on each item. This year has continued to run very smoothly in that regard.
2. Income versus expenses – We always are looking to see if there are any unanticipated discrepancies between income and expenses.
3. This past year there have been four ongoing projects that we reviewed throughout the year. For each we considered the costs and from which funds we would draw the money.
   • Work continues on the stained-glass windows. We have now completed the work on four – two in the narthex and one on the stairs to the attic, and one in the sanctuary. They look beautiful! As noted last year, stained glass window repair will be funded from a gift made to the endowment fund from the Gates family but the finance committee keeps track of progress.
   • The elevator did not pass inspection early this year and the committee and Peter kept track of work and a part that was needed, how it would be paid for, and completion of the task. Our elevator workman did find the piece we needed, the elevator was fixed and passed inspection.
   • New printer – cost of leasing versus buying and which company to go with. Peter and Diane did most of the work but reported each meeting to the committee.
   • Repair of the lawn – after all the road work and parking area beside the church, the lawn has been in need of work. Several options were explored. Again, the finance committee spent time considering the cost and funding for several options explored by Alex Tuscany. The final work, if approved, would happen next spring.
     
4. Each year the Finance Board covers some ongoing expenses and income items.
   
   • Staffing – not the hiring but the impact on our finances. We continue to struggle with consistent custodial service. This affects the expense line item on the budget so we try to keep track of it Similarly the Board made some adjustments when we needed to hire a new administrator. A change in hours resulted in a change in that expense.
   • This committee takes responsibility for fund raising events. This year we only did one. With incredible work from Lew Petit and others we had a successful tag sale the last weekend in August raising more than $2000.
     We especially watch the progress of pledge income and any expenses that are more than budgeted.
   • And in the fall we begin the budget process for the next year:
     • Estimate for Pledge income
     • Amount we’ll need from trustees to balance the budget
     • Percent increase of salaries (5% this year)
     • Any significant anticipated expenses.

As was the case last year Diane Leavitt manages our books, bill paying, reports, and financial information for the Board. Cindy Senning backs Diane up and does the reconciling with her each month, and the others contribute in different ways on different issues. It’s a hard working Board.

As always we end with heart felt thanks to all for their financial support of the church. None of the work done by this Board could be successful without the generosity of everyone.

Respectfully submitted: Diane Leavitt, Cindy Senning, Charlie Grenier, Alex Tuscany, Cathy Shires, Barbra Barra