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                                    HOLY ANGELS FINANCE COMMITTEE MINUTES
                                                November 19, 2009 

OPENING PRAYER
Fr. Jerry Brittain led the opening prayer. 

ATTENDANCE
Fr. Jerry Brittain, Fr. Nathan Reesman, Don Felix, David Beine, Jack Daniels, Paula Beine, Harry German, Kathryn Fisher Davies, and Mike Nowack.  Absent were: Chuck O’Meara, Pete Rettler, Randy Lawson and Tim Briscoe. (Tim Briscoe has resigned from the Parish Council; he was the chairperson of the council.)  Non-committee members in attendance were Rob Mas and Mike Melaney. 

MINUTES OF THE PRIOR MONTH
There were two corrections to the October minutes. 

1.  The Finance Committee requested that bids now be obtained for the parish mailing work that was outsourced.  Recently some monthly mailing work was outsourced in order to give the parish secretary time to take on additional bookkeeping tasks associated with changes being implemented in response to the Archdiocesan Financial Review of Holy Angels Parish.  Bids were not sought at that time, but should be sought now.

2.  Compliance Committee:  Chuck O’Meara requested that the document submitted by the Compliance Committee state the reason why the committee met and formulated the recommendations, and that the document state who is allowed to sign checks.

A motion to approve the corrected minutes was made by Don Felix and seconded by David Beine.  The motion was approved unanimously. 

REVIEW OF FINANCIAL RESULTS - OCTOBER
The Cash balances were reviewed on the Balance Sheet.  Also, a discussion relating to “prepaids” and “accrued liabilities” was concluded with Jack making the recommendation that the Pastor, the Trustees, Jack and a CPA discuss the implications of making changes from how things have been recorded previously to a different method which would be more in line with GAAP. 

The Profit & Loss report showed that the Envelopes are down slightly year-to-date (3.0%).  Jack pointed out that the school is a little ahead in the amount of tuition they have sent to the parish but that the Instructional Fee has not been sent over yet.  The Health Insurance continues to be less than budgeted as has been previously discussed.  Utilities and Maintenance costs are all in line with the budget at this point in time.

Profit & Loss sheet “by Class”.  This report breaks down the various functions of the Parish: Church, Rectory, Apartment, Festival, School, Religious Ed, Youth Ministry, Faith in Our Future, Stained Glass Window, and Rolfs Foundation.  Jack further commented that once the books of the Parish are consolidated (School and Parish respectively), that this report will have more significance in keeping track of how each activity is doing (from a profit and loss perspective).

School Financial report was reviewed.  Tuition was addressed as well as the “Calendar of Ca$h” program.  Jack stated that he would get in touch with the school regarding their booking of the cash received from the Calendar of Ca$h program.

Jack also noted that there was to be a separate meeting tomorrow (Friday) to discuss the possibilities of consolidating QuickBooks and then to consider the consolidating of the bookkeeping function in various phases.  

PROPERTY AND GROUNDS UPDATE
Work on the roofs of the Rectory entranceway and the bell tower was completed.  Some work on the boiler has been necessary, but this is expected in the fall of the year.

The work on the lighting system in the school has been completed.  The paperwork will now be submitted in order to gain a reimbursement for a significant amount of the cost due to the energy savings associated with the project. 

TIME, TALENT, TREASURY – AND - FAITH IN OUR FUTURE
The pledge card program ran the weekend of November 8^th.  Pledge amounts and census data is currently being input into the system.  As it relates to Faith in Our Future, the members agreed that it would be good to begin doing a follow-up with parishioners as to where they stood in reference to their pledges. 

AUDIT SUB-COMMITTEE ACTIVITIES
The recommendations from the Compliance Committee to the Finance/Administrative Services Committee have been finalized.  The attachment to these minutes incorporates the changes requested by the full finance committee at its October meeting. 

Jack asked Paula to consider keeping the sub-committee together to look at the year end processes relating to reviewing account detail and making a recommendation to the Finance Committee (and then the Parish council) regarding inside and/or outside audit considerations.   

SCHOOL TRUST FUND
Following is an excerpt from the minutes of the Advisory Board and Parish Trustees’ meeting held on October 20^th:

“The Committee discussed on a preliminary basis the amount of distributions that the Trust Fund should plan to make during the balance of the School’s fiscal year (July 1 to June 30). The discussion included mention of (i) the cash available through the Faith in our Future program, (ii) concerns about matching the amount of this year’s distributions from the Trust Fund to the School’s expectations, in light of the low current yields on quality fixed income investments, and (iii) the potential needs of the School in a tough economic climate. Before the end of December, Leon Dodge will furnish an estimate of the interest and dividend earnings expected for the portfolio for the School’s fiscal year. At the next meeting of the Advisory Board and Trustees, the amount of the distribution from the Trust Fund for the current fiscal year of the School will be discussed, as well as the Trust Fund’s overall policy on amounts and timing of distributions in the future.”

Their next meeting is tentatively scheduled for January 19, 2010. 

 SCHOOL TASK FORCE
No meetings scheduled 

ADJOURNMENT
A motion to adjourn was made by Mike Nowack and seconded by Don Felix.  The motion was approved unanimously.

NEXT MEETING
No meeting is scheduled in December.  The next meeting will be January 21, 2010. 

Respectfully submitted,    

John (Jack) Daniels

For Pete Rettler, Secretary, Finance Committee

                                                       Holy Angels
                                                 Finance Committee
                                                       2009-2010 

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

Fr. Nathan Reesman                           138 N. 8th Ave.                                  262-492-5404
 (Associate Pastor)                              West Bend, WI  53095                    nreesman@me.com  

Don Felix                                            2313 Skyline Dr.                                 262-334-9015
 (Trustee)                                             West Bend, WI  53090                  dff2026@netzero.net 

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

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

Kathryn Fisher Davies                        1047 Kathryn Lane                             262-306-1099
             (Vice Chair)                                        West Bend, WI  53095            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  

Harry German                                     1038 Poplar                                         262-334-7018
                                                           West Bend, WI 53095                     pjgerman@charter.net  

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       

                                                                                                                                                                                                                                    November, 2009