Finance

Minutes of Finance Committee- July 15, 2015

Present were:  Chair KC Bretzke, members Jan Werness and Carole Megarry,  bookkeeper Carrie Feldman, and accountant Lee .

The minutes of the June 17, 2015 meeting were accepted.

Lee Silverstein was introduced as our new accountant.  His role will be small and will include the monitoring and review of quarterly payroll reports.  It was noted that it is very important that these reports be correct before the W-2’s go out.

Report Detail.  Discussion was had as to how much detail should be contained in the financial reports which the committee reviews, such as whether they should list the names of non-Walker tenants.  It was noted that it is important to keep separate donations to the mission of the church as compared to payments for non-mission related rent, which are, or may be, taxable income.

Apportionment Appearance on Reports.  KC expressed the opinion that we should show the amount of apportionments due even though we do not currently pay them.

Month to Month Comparison Reports.  It was requested that a month to month comparison report, showing income and expenses, be generated.

New Rental Income. The former pastor’s office has now been rented out at the rate of $500 per month.

Transfer of Accounts.  This has not been done as yet, due to Walter’s absence.  KC should contact Walter to arrange for transfer of the Sunrise account to RBC and also the parsonage account.

Minutes by Carole Megarry