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:
- 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.
- Income versus expenses – We always are looking to see if there are any unanticipated discrepancies between income and expenses.
- 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.
- 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