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                                    HOLY ANGELS FINANCE COMMITTEE MINUTES
                                                January 15, 2009 

OPENING PRAYER
Fr. Jerry Brittain led the opening prayer. 

ATTENDANCE
Fr. Jerry Brittain, Don Felix, Jack Daniels, Paula Beine, David Beine, Mike Nowack, Kathryn Fisher Davies, Charles O’Meara, Mark Jansen, Frank Stangle, Randy Lawson, Pete Rettler.   

It should be noted that David Beine is the new Trustee; he replaces Harry German.  David will serve on the Finance committee as a member of that committee. 

MINUTES OF THE PRIOR MONTH
A motion was made by Don Felix and seconded by Charles O’Meara to accept the minutes from the prior month.  The motion was approved unanimously. 

REVIEW OF FINANCIAL STATEMENTS - December
Weekly Envelopes were ahead of budget for the month by $12,409 but Y-T-D was off by $29,856.  Jack mentioned that the first few weeks of January were down and the potential is they are to be off budget by nearly $80,000 (roughly12%).  Jack pointed out that a donation was made in December in the amount of $10,000 for tuition assistance (a real gift!).  Chuck pointed out that the Stehling Account was nearly $50,000 over budget and Jack explained this was timing in relationship to the budget. 

Expenses for Salaries & Benefits were slightly under budget.   Jack explained that salaries are less than budgeted because a couple of the long term teachers retired and were replaced by new teachers who did not have the same seniority, thus a lower salary level. Jack pointed out that there will be a 17% increase in pensions (as informed by the Archdiocese). Utilities are all looking very normal however we need to be prepared next month after this bitter January. 

The Parish Checking account has a balance of $131K.  The Parish Savings account is at $55K.   The Parking Lot Fund Debt is at ($49.4K) and the School Trust Fund is at $1,625.5K. 

AUDIT DISCUSSION
Jack discussed the current status of the Archdiocese audit.  Katie Hoeller, Director, Parish and School Financial Services of the Archdiocese, will be starting the audit on January 22^nd.  Jack noted that Barb and Nola will be available and that every organization/activity connected to the parish will be audited.  Paula noted that the council has put the plans of an internal audit on hold.  

PROPERTY AND GROUNDS UPDATE
Jack mentioned that it is now time for the committee to update their set of priorities should funds become available.  Jack added that money would be tight this year and he did not know how many of their requests could be funded.  He added that in recent years we have been able to fund many of their requests. 

FAITH IN OUR FUTURE
The first round of this campaign has been completed and we have about $611,000 in pledges.  The goal was about $1.1 million.  The “follow-up” committee will get into action shortly. 

SCHOOL TRUST FUND
There was a follow-up letter sent to the Board of Directors on July 2^nd, 2008 concerning the authorization to engage M&I Bank as the advisor.  They also need to create a policy statement.  Chuck wants M&I to meet with Father Brittain and the Trustees.  Chuck believes it is time to get the funds transferred.  The committee discussed the dismal rates.  The committee does not want to commit to a long term CD because the economy may start to improve.  It was also mentioned it may be in our best interest to stay liquid in case we needed funds to cover shortages. 

ADMINISTRATIVE MATTERS
Jack informed us that he has started the budgeting process for this next year.  He shared an outline of the process and told us he would be making a presentation to the Parish Council at their meeting (following the Finance meeting).  Chuck questioned the tuition increase being proposed.  Jack appreciated the discussion and said he would keep Chuck’s thoughts in mind during the process. 

ADJOURNMENT
A motion to adjourn was made by Don Felix and seconded by Kathryn Fisher Davies.  The motion was approved unanimously. 

NEXT MEETING: 

Our next meeting is scheduled for 6:30 PM Thursday, February 18, 2009.

Respectfully submitted,      

Pete Rettler

                                                                   Holy Angels Finance Committee 2008-2009 

Name                                                     Address                                               Phone
Fr. Gerald Brittain                  138 N. 8th Ave.                                  262-334-3038
 (Pastor)                                   West Bend, WI  53095                  parish@hawb.org 

David Beine                            3375 Rockridge Dr.                            262-677-1254 
 (Trustee)                                 West Bend, WI 53095                        dbeine@focuspg.com  

Don Felix                                2313 Skyline Dr.                                 262-334-9015
 (Trustee)                                 West Bend, WI  53090              ff2026@netzero.net 

John (Jack) Daniels                 1525 Ridgewood Dr.                          262-334-9704
 (Chairperson)                         West Bend, WI  53095      carol-jack@sbcglobal.net 

Kathryn Fisher Davies            1221 Green Tree Road                        262-306-1099
(Vice Chair)                            West Bend, WI  53090     katfishdavies@charter.net 

Pete Rettler                             6361 Scenic Dr. E. 262-335-0475/262-334-3415(WO)
(Secretary)                               West Bend, WI  53095     prettler@morainepark.edu  

Mike Nowack                         4323 Pebble Stone Place                    
(Parish Council Liaison)          West Bend, WI  53095        mnowack@rwbaird.com  

Charles O'Meara                     8484 Apple Ct.                                   262-626-2229
                                                Kewaskum, WI 53040            comeara@ziegler.com 

Randy Lawson                        7720 Tomahawk Dr.                           262-692-3339
                                                West Bend, WI 53090                               rdckl@charter.net  

Paula Beine                             3375 Rockridge Dr.                              262-677-1254           
(Parish Council President)      West Bend, WI  53095                     beine@netzero.net