Board of Trustees Meeting Minutes Monday, February 2, 2015

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1 Board of Trustees Meeting Minutes Monday, February 2, 2015 The mission of the First Unitarian Church of Orlando (1U) is to exemplify liberal religion in Central Florida with a commitment to lifelong spiritual growth and compassionate service to the community. Call To Order at 7:00pm In Attendance: President Rachel Gardiner; President-Elect Jock Smee, Treasurer Bill Smithson; Trustees: Charles Davis, Meredith Varner; Past-President Jean Siegfried; Ministerial Intern Lois Cole as a Guest. Absent: Rev. Kathy Schmitz (out of town), Jack Jordan (out of town) Opening: Chalice Lighting Check-in: Each Trustee shared briefly their recent experiences Announcements: Membership is: 279 To re-cap: In December, the Vierlings (2) changed from Active Member to Supporter, by their request (they now live in Tampa). Kim Neal asked to be removed from membership. David Cownie's status was changed from Active Member to Supported. (It was shared by Marty Haddad during the membership meeting last week that he never signed the membership book.) Marcia Mundt resigned (in response to January 2015's membership status letter). Bernadette & Larry Davis (2) resigned (in response to January 2015's membership status letter). They had moved to Texas. 1U to Host Florida UU Music Festival, Saturday-Sunday, March 7-8, U to Host Florida District Assembly, Friday-Sunday, April 17-19, 2015 Continuing Business: Debrief Congregational Meeting Finance/Budget/how to read the finance report overview (Bill Smithson) New Business: Update on new Director of Religious Education The position has been offered to Regina Knabe. More info to follow when Rev. Kathy returns. Update on new Ministerial Intern for New applications are being received and reviewed. Budget Timeline There will be a Finance Committee meeting soon and we hope to have it finalized by the end of March 2015 for presentation to BOT at the April meeting.

2 Scholarship to Escalating Inequality or Opportunity for All? Conference sponsored by UUs for a Just Economic Community (UUJEC) for Sandy Cawthern. It was regularly moved and seconded to fund the airfare and workshop fee(s) in the amount of $ of Cawthern and look forward to her report on this engaging opportunity. Motion carried unanimously. Recruiting GA Delegates and Determine Funding (see following policy) Delegates to General Assembly The President and Vice Presidents shall continue to be sent to the General Assembly as delegates, and the remaining delegate(s) shall be appointed with the following guidelines: When selecting delegates to General Assembly, preference should be given in the following order: Incoming President, President Elect, and Vice President. BOT Members and Committee Chairs who have not previously attended General Assembly. BOT Members and Committee Chairs who have previously attended General Assembly. Other congregants. Within budgetary constraints, the BOT may provide financial assistance to those individuals representing 1U as delegates to General Assembly using the same preference as stated above. Delegates will be expected to report back to the congregation. The BOT was asked to notify the Rev. Kathy and/or Rachel of their interest no later than the February meeting. Officer Reports: Building Steering Committee Coordinator Report: Jock o There were 35 pledges brought us to $791K. 26 additional brought us to $923K. o The tree has been trimmed. o The survey has been completed o Interviews are in process with contractors with our architect firm. December Treasurer Report: Bill Closing Words by Lois Cole

3 First Unitarian Church of Orlando Months Passed 6 FY Year-to-Date Financial Report (Based on YTD 12/31/2014 Budget Report and Account Activity Report from PowerChurch) Meeting Month December Projected Pro-rata Overage/ Annual overage/ Actual Budget (shortfall) Budget (shortfall) Income Pledge Payments (Current FY) 161, ,985 8, ,970 8,096 Pledge Payments (From Previous FY) 9, , ,163 Pledge Payments (New Members) 471 3,750-3,279 7,500-3,279 Plate Collection 7,624 8,750-1,126 17,500-1,126 Share the Plate 5, , ,442 Donations 7, , ,509 Endowment 8,847 8, ,000 0 Barnett Foundation 25,000 25, ,000 0 Fundraising 3,804 2,250 1,554 4,500 1,554 Facilities Usage 10,115 7,000 3,115 14,000 3,115 Intern Grant (from UUA) 8,500 8, ,500 0 Intern (from Reserve) 14,501 14, ,501 0 [1] Other Income 5,145 1,500 3,645 3,000 3,645 Total Income 267, ,083 34, ,471 34,119 Expenses Minister 50,039 48,023 2,017 96,045 2,017 Other Church Staff 90,287 90, , Personnel Total 140, ,100 2, ,199 2,227 Administrative 8,163 10,352-2,189 20,703-2,189 Property Endowment Loan ,200 0 Repairs and Maintenance 8,236 8, , Grounds and Landscaping 2,000 3,500-1,500 7,000-1,500 Custodial Supplies 1,280 1, , [1] Insurance [Hazard and Liability] 10,565 11, , Utilities 8,233 10,500-2,267 21,000-2,267 Audio Visual , Sewer Assessment 2,172 2, ,172 0 Property Total 32,678 37,872-5,194 84,772-5,194 UUA & FL District Dues [Fair Share] 6, ,556 0 Program Expenses 7,573 5,750 1,823 11,500 1,823 [2] Discernment and Strategy Accounts Website Development 0 1,250-1,250 2,500-1,250 Capital Expenses Fundraising Expenses 1, , ,475 Share the Plate 3, , ,026 Special Events BOT Discretionary Miscellaneous Total Expenses 199, , , Net Surplus/(Deficit) 67,350 34,518 Financial Assets as of COB Operating Account - TD Bank 118, ,661 Reserve Account - TD Bank 155, ,118 Minister's Account - TD Bank 2,515 2,615 Capital Campaign Account - TD Bank 132,448 67,667 Total Financial Assets 408, ,061 Separate Accounts Balances (11/30/2014) 12,389 Net additions/(reductions) Separate Accounts Balances (12/31/2014) 12,474 Net Operating Account Balance 106,075 [1] Paid quarterly. [2] Includes COM, Finance and Healthy Relations Committees, plus costs for SUULE, DA and GA Delegates February 1, 2014 Issue 1

4 FIRST UNITARIAN CHURCH OF ORLANDO CAPITAL CAMPAIGN REPORT NOVEMBER 1 THROUGH DECEMBER 31, 2014 INCOME Pledge Payments 152,000 Donations 12,750 Total Income 164,750 EXPENSES KTH Architects, Inc. 19,848 UUA Consultant 12,155 Flyers 42 Miscellaneous 20 Total Expense 32,065 NET SURPLUS/(DEFICIT) 132,685

5 Monthly Activities First Unitarian Universalist Church of Orlando Treasurer s Report YTD FY 2015 December Attended 2 Business Finance Committee meetings in connection with Capital Campaign planning (see highlights below). Financial Report and Updates 1. Actual vs. Budget: TYPE ACCOUNT ACTUAL PRO-RATED OVER/UNDER BUDGET INCOME 267, ,083 34,119 EXPENSE 199, ,223 (399) Contributing Factors Income: a. Pledge Payments Previous Year ($9,163} not budgeted b. Donations ($7,509) not budgeted c. Pledge Payments Current Year Over Budget ($8,096) Contributing Factors Expense a. Net effect all expense categories see Treasurer s Journal for break down 2. Financial Assets ACCOUNT TYPE - TD BANK NOVEMBER ENDING BALANCE OCTOBER ENDING BALANCE Operating 118, ,661 Reserve 155, ,118 Capital Campaign 132,448 67,667 Minister 2,515 2,615 Total Assets 408, ,061 Building Finance Committee Meeting Highlights (Capital Campaign) 1. John H. developed Expense Reporting Form and associated procedures. (Complete) 2. Bill S. opened separate Money Market Account with TD Bank. (Complete) 3. Amy working with PowerChurch consultant to determine if PowerChurch software can maintain separate accounting for existing operating and new Capital Campaign accounts. (90% complete) February 1, 2015 Issue 1

6 First Unitarian Universalist Church of Orlando Treasurer s Report YTD FY 2015 December Need to develop budgets for: Payment schedule for architect and builder costs. Capital campaign budget to include publicity and communication costs. Sanctuary improvement budget to include such items as painting, acoustical improvements and upgrading A/V system. (In progress) 5. John H. developed chart identifying two-person teams (Visiting Stewards or VS) to canvass lead donors. That s 16 teams calling on approximately 43 households. Canvassing starts 10/27 and concludes 12/13. (Canvassing of lead donors in progress) 6. Barry F. will be on site from 10/18 through 10/25. He will be conducting interviews with our lead donors. He will also be training the two-person VS teams on 10/23. Marty Haynie will conduct the same training on 10/26 for those who couldn t attend on 10/23. (Completed) 7. John and Marty will be calling on bankers from TD Bank and First Green Bank to explore construction interest rates and fixed mortgage financing. (met with First Green Bank, results very favorable). 8. Identified need to develop reporting mechanism for the BOT and congregation on project progress. John will develop a straw for BFC review and input. (In Progress) 9. Thanked Ken L. for his excellent work on developing a first draft of the tenyear financial projections. Ken will investigate any adjustments in insurance that may be necessary due to increased space. Need further discussion with Barry on projecting pledge income. Will share financial projection with BOT once loose ends are cleared up. (Ongoing) 10. Awaiting final costs on building project to include the building, landscaping, improvements to remaining enrichment buildings and Sanctuary (in progress). Expect to have the final results by end of February or early March (hopefully sooner). Final results will help determine mortgage loan February 1, 2015 Issue 1

7 Annual Budget Pledges FY A/O December 31, 2014 Total Pledged $332,103 Total Received $178,296 Difference $153,807 Percent Received 54% Capital Campaign Pledges A/O December 31, 2014 Total Pledged $703,202 Total Received $$152,000 Difference $551,202 Percent Received 22% February 1, 2015 Issue 1

8 First Unitarian Church of Orlando Balance Sheet 01/06/ :33 PM Consolidated - December 2014 Page: 1 Current Year ASSETS BANK ACCOUNTS CHECKING ACCOUNT TD Checking (Operating) $64, TD Checking (Buffer) 40, TD Checking (Designated) 12, Subtotal Checking Account 117, MONEY MARKET ACCOUNT TD Bank MMA (Operating) 50, TD Bank MMA (Designated) 104, Subtotal Money Market Account 155, OTHER ACCOUNTS TD Bank Minister's Disc. 2, CAPITAL CAMPAIGN MMA 132, Subtotal Other Accounts 135, Subtotal Bank Accounts 407, INVESTMENTS USAA Brokerage Account FIXED ASSETS LAND Land 748, Parking & Asphalt 58, Subtotal Land 806, BUILDINGS Buildings - Sanctuary 403, Buildings - Gore Hall 218, Buildings - RE Complex 109, Subtotal Buildings 731, EQUIPMENT Furniture and Equipment 625, Subtotal Fixed Assets 2,163, TOTAL ASSETS $2,571, LIABILITIES LONG-TERM LIABILITIES MORTGAGES & LOANS Endowment Loan $20, TOTAL LIABILITIES 20,495.00

9 First Unitarian Church of Orlando Balance Sheet 01/06/ :33 PM Consolidated - December 2014 Page: 1 Current Year NET ASSETS GENERAL FUND Operating Fund Balance $2,301, DESIGNATED FUND BALANCES Mystic Grove Fund Natural Disaster Fund 3, Nora Staton Bookstore FB Black Cat Fund Memorial Gifts Fund Sharon Hiett Memorial FB Temporary Reserve Fund 1, Children's RE Fund Exchange TShirt Fund Sanctuary Maint Fund 3, GH Maint Fund 1, EC Maint Fund 1, Grounds Fund Subtotal Designated Fund Balances 12, CAPITAL CAMPAIGN FUND CAPITAL CAMPAIGN FUND 132, MMA DESIGNATED FUNDS Sanctuary Fund 20, Gore Hall Fund 48, Enrichment Center Fund 17, DuRocher Fund 5, Website Develop Fund 2, Intern Reserve Fund 9, Min Sabbatical Resv Fund 1, Accrued Interest Fund Subtotal Mma Designated Funds 104, TOTAL FUND BALANCE 2,551, TOTAL LIABILITIES AND FUND BALANCE $2,571,612.18