Finance

Minutes of Finance Committee- March 18, 2015

Present were:  Outgoing chair Lulu Phillips, incoming chair K.C. Bretzke, members Jan Werness and Carole Megarry, church administrator Jennifer Gahnstrom and pastor Walter Lockhart.

The minutes of the February 11, 2015 were noted to have several errors.  Carole will correct them and prepare an Amended set of minutes.

Need for New Signature Cards.  Jennifer needs to come off as a signer for the RBC investment accounts as well as Sunrise accounts. Jan has the necessary card and after KC adds her signature and SSN, Jan will return it to Sunrise.  The RBC agent, Mark, must be contacted and provided with KC’s Social Security number in order to change the RBC signatures.  Jennifer and KC will coordinate this.

On-Line Access to Accounts.  This issue was discussed.  At present, Jan and Jennifer have on-line access to the Sunrise.  This should be changed so that Jan, KC, and Walter have on line access.  Jennifer will contact the RBC agent and have her on line access deleted for that account.  It was unknown whether on- line access could be set up to allow viewing the account but not to allow transfers of funds.  This issue is to be determined.

Administrator Job Change.  Lulu requested to be allowed to attend SPPR’s meeting this week in order to make her recommendation as to the job description changes, notably, deleting from the administrator’s responsibilities 8 hours per week in financial duties.  It was agreed she should do so.  The 8 hour per week “bookkeeping” job should be put up for bids.

Lulu’s Proposed Activities.  Having stepped down as Finance Chair, Lulu proposes to manage the twice per year rummage sales and twice per year silent auction.  The spring silent auction was rescheduled to fit Lulu’s schedule and will take place May 22, 2015.  The committee gratefully accepted her proposed activities.

Adult Day Care.  Lulu has investigated the general statutory and regulatory requirements for adult day care and believes that there is no necessary legal impediment to WUMC operating an adult day care.  She notes the DHS website has a 4 pages application. Much remains unknown, however, including whether it would be cost effective for WUMC to operate such a program.  More information is needed.  The building use committee should be involved.  It was suggested we have a joint meeting after Lulu does some additional research.  It was also suggested that if it appears reasonable to go forward with this, we contact an existing provider, such as Presbyterian Homes, and possibly partner with them or another experienced provider.

Review of Financial Reports.  The committee then reviewed the reports prepared by Jennifer which start at page number 21.  Several of these relate to the Minnesota Annual Conference Form 11 which requires an annual report from the church.  Jennifer has prepared a very complete draft of this report, which appears on page 27 of the several reports.  Incident to this, Jan requested to see the sections of the Methodist Discipline which addresses accounting procedure.  Walter will locate this and get it to her.  Discussion followed as to who should sign the Form 11 and it was decided that since Lulu had been chair during the year 2014, hers would be the appropriate signature.

Discussion followed about the need for copies of the financial reports to be kept off site.  All existing reports will be copied onto a DVD and taken off site.

Changes to the Administrator’s Job.  Jennifer stated she plans drop to 16 hours per weeks as of March 31, 2015, and to cease doing regular financial work for the church as of April 6, 2015.  She expects to be able to prepare the regular March reports by that date.  After that, she will do additional financial work, upon specific request and at her usual hourly rate, keeping track of her time and billing for that time.  She will be on vacation that last two weeks of April and unavailable during that period.  The committee discussed interim check-writing and bookkeeping procedures, which included a review of Jennifer’s existing monthly file folders containing bills and receipts.  The check signer should not be the same person who wrote the check.  KC will sign the March month-end paychecks.  Jennifer will continue to keep track of the custodian’s hours and let the check writers know what he should be paid.

Jennifer noted she has 192 hours of accrued vacation pay at $20 per hour for a total gross owed of $3,840.  SPPR has approved this payment.  MSP approved by Finance Committee.

Minutes prepared by Carole Megarry, March 22, 2015.