Parish Home

HOLY ANGELS FINANCE COMMITTEE MINUTES,
                              June 19, 2008 

OPENING PRAYER  Fr. Jerry Brittain led the opening prayer. 

ATTENDANCE
Fr. Jerry Brittain, Fr. Rick Wendell, Ken Dornacker Jr., Mark Jansen, Don Felix, Paula Beine, Kathryn Fisher Davies, Mike Nowack, Charles O’Meara, & Harry German. Not in attendance Jack Daniels & Joe Carlson. 

MINUTES OF THE PRIOR MONTH
A motion was made by Don Felix and seconded by Harry German to accept the minutes from the prior month.  

REVIEW OF FINANCIAL STATEMENTS
Revenue – Weekly envelopes is over budget by $3,082 in May and over budget by $76,656 for the year.  Tuition is over budget $32,965 in May and over budget $30,467 for the year.  Rectory rent which isn’t budget has an income of $14,585 for the year.  Per Fr. Jerry a transfer of $26,000 will be made from the School Trust Fund in June for tuition.  (Also, $50,000 of unpaid tuition is in arrears and a portion of it may be written off as uncollectable.  This amount has accumulated over the past three years.  The primary reasons for this amount being written off are because of:  job losses, loss of industry, divorces, and personal injuries.  Fr. Jerry will take this issue to the Parish council.) 

Expenses – Salaries are over budget by $3,931 in May and over budget by $28,049 for the year.  The stain glass window expenditure in May $14,875 will be covered by means of a transfer from the restricted funds account in June. 

Cash: Parish Checking $80,077; Religious Ed $15,620; Youth Ministry $14,486; Parish Saving $6,888; Restricted Funds $202,777; School Account $75,783; Outreach Program $23,232; Parking lot Fund Debt $(56,427); School Trust Fund $1,645,300; Cemetery Fund $200,297.   

FORECAST OF YEAR END RESULTS
Tuition of $72,876 is expected to be received in June.  If $40,000 is set aside in a prepaid account for caulking & tuck pointing work to be done for all buildings, then the forecasted results will be a shortfall of $(7,710) for the year. (This is only a forecast.)  It was agree by the Finance Committee to use the money for the caulking & tuck pointing. Mike Nowack will present this to the Parish Council. 

PROPERTY & GROUNDS
Fr. Jerry talked about landscaping around the school.  In discussion are trees and bushes possible this fall or next spring. 

TIME, TALENT, AND TREASURY
Commitment date (Sunday) is November 15 & 16, 2008.  First thing to do is to put together a case statement for our 60% of the money returned to our Parish from the fund needs to be completed by July 29, 2008.  The Archdiocese 40% is going to be used to establish trust funds – primarily with Education in mind.  Expect 1/3 more than the weekly envelope giving.  52 volunteers are needed for the 14 committees to be orientated August 26, 2008. 

ADJOURNMENT

A motion to adjourn was made by Harry German and seconded by Don Felix.  The motion was approved unanimously. 

NEXT MEETING:   NO MEETING IN JULYTHE NEXT MEETING WILL BE AUGUST 21, 2008. 

Respectfully submitted, 

Ken Dornacker Jr.