Submitted by: Charlie Chapman, Diocesan Treasurer. Diocesan Treasurer

Transcription

1 Financial Reports

2 Diocesan Treasurer Submitted by: Charlie Chapman, Diocesan Treasurer The Diocesan Treasurer is Co-Chair of the Budget and Finance Committee. The committee continues to be responsible for assembling the diocesan budget, but, in addition, is tasked with reviewing and recommending actions on all financial matters going to the Board of Trustees. Congregation Accounting and Financial Reporting Standards established in late 2014 have been used by the Congregation auditors in their reviews. As Treasurer, I have been active in helping Congregations achieve those standards and in standardizing compliance with the diocese apportionment calculation was the third year where the diocesan budget and financial reporting statements were more closely aligned with our audited financial statements and Generally Accepted Accounting Principles, GAAP, for Not-for-Profit organizations. A focus of Not-for-Profit reporting is on the increase or decrease in net assets of the organization. The focus is on all changes to net assets, including realized and unrealized gains and losses in investment income, as well as gains and losses from property transactions. These changes are very volatile and do not correlate with Operating Income. The results from operations are shown as a subtotal before other changes in net assets. This is different than accounting practices of congregations in this diocese. The diocesan audited financial statements for 2015 showed a decrease in net assets of $541,479. This includes non-cash items such as depreciation and unrealized losses on invested assets. Our invested assets and notes receivable were $9,289,303 at December 31, 2015 compared to $9,740,540 at December 31, The diocesan financial statements for the six months ending June 30, 2016 are in your Diocesan Convention Book. They show an increase in net assets of $16,727 before non-cash items such as depreciation and unrealized losses on invested assets. The Episcopal Diocese of Northern California s 2017 Annual Budget projects a Net Operating Loss of $431,000 at line 26. Non-operating cash increases (interest income) and decreases (grants) reduce the Decrease in Unrestricted Net Assets Before Non-Cash Items to $347,000 at line 39. This is 4.8% of our Invested Unrestricted and Undesignated Net Assets of $6.4 million and Other Net Assets of $.8 million at the end of The Board of Trustees has set a guideline for the use of these funds at 4%. Grants of $78,400 from Designated Funds make up 1.1% of the total 4.8%. Page 72

3 Accrual Basis The Episcopal Diocese of Northern California Statement of Financial Position Jun 30, 16 Dec 31, 15 ASSETS Current Assets Checking/Savings Cash and Equivalents (Diocesan) Cash on Hand 289, ,521 Cash Investments 4,355 4,350 Total Cash and Equivalents (Diocesan) 293, ,871 Cash Held for Others 250, ,493 Total Checking/Savings 544, ,364 Accounts Receivable 1200 Accounts Receivable 219, , Allowance for Uncollectables (32,000) (32,000) Total Accounts Receivable 187, ,200 Other Current Assets 1259 Mission Apport. Accrual, net 83,218 6, Undeposited Funds 42,626 9, Other Receivables 70 10, Prepaid Expenses 48, , Travel Advances 1, Group Ins. & Comp-Prepaid 13,086 11,296 Total Other Current Assets 187, ,033 Total Current Assets 920,280 1,028,597 Fixed Assets Property-Church Use, net 743, ,854 Property & Equipment, net 67,537 82,945 Total Fixed Assets 810, ,799 Other Assets Long Term Receivables 37,691 37, Investments 8,326,665 8,172, Investments Held for Others 11,659,154 10,749, Notes Receivables 863,434 1,073, Mortgage Notes Rec. (Gridley) 43,485 43, Deposits 6,409 6,409 Total Other Assets 20,936,838 20,083,346 TOTAL ASSETS 22,668,115 21,944,742 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 Accounts Payable 27, ,656 Total Accounts Payable 27, ,656 Credit Cards Credit Card Liabilities 3, Total Credit Cards 3, Other Current Liabilities Accrued Expenses 81,524 90,749 Pass-Through & Held for Others 16,988 11, Deferred Revenue 26,560 7,315 Total Other Current Liabilities 125, ,236 Total Current Liabilities 156, ,415 Long Term Liabilities 2625 Note Payable-Indiv. (Gridley) 43,485 43, Deferred Rent 889 6, Investments-Held for Others 11,910,043 11,000,136 Total Long Term Liabilities 11,954,417 11,049,845 Total Liabilities 12,110,558 11,262,260 Equity 3200 Unrestricted Net Assets 9,787,126 9,912, Temporarily Restricted 754, , Permanently Restricted 16,340 16,340 Total Equity 10,557,557 10,682,482 TOTAL LIABILITIES & EQUITY 22,668,115 21,944,742 Page 73

4 THE EPISCOPAL DIOCESE OF NORTHERN CALIFORNIA BUDGET TO ACTUAL- SUMMARY For Six Months Ended June 30, 2016 UNRESTRICTED NET ASSETS: REVENUES: 06/30/16 ACTUAL YTD 2016 BUDGET FAVORABLE/ (UNFAVORABLE) CHANGE ANNUAL 2016 BUDGET 12/31/15 ACTUAL Mission Apportionment, net 822, ,000 42,447 1,560,000 1,636,093 Contributions 1,853-1,853-28,288 Other revenues 141, ,955 40, , ,217 Net assets released from restrictions 68,144 49,000 19,144 49,000 21,870 EXPENSES: Total revenues 1,033, , ,886 1,802,410 1,874,468 Diocesan Operating: Office of the Bishop: Personnel 392, ,973 (12,395) 759, ,418 Operating Costs 230, ,035 (7,749) 418, ,946 Total Office of the Bishop 623, ,008 (20,144) 1,178,011 1,165,364 Communications 45,017 89,894 44, ,787 80,577 Governance 9,758 11,729 1,971 76, ,779 Total diocesan operating 677, ,631 26,704 1,434,698 1,350,720 Program expenses: Youth and Young Adults 15,000 29,600 14,600 92,700 88,476 Outreach 10,466 17,978 7,512 35,955 37,058 Congregational Development and Support: College for Congregational Development 102,860 60,000 (42,860) 80,000 89,801 Deaneries 2,020 5,250 3,230 10,500 4,978 Conferences 33,280 32,500 (780) 32,500 31,610 Congregation and Clergy Support 86,338 53,550 (32,788) 58,100 23,189 Grants 54,991 47,500 (7,491) 95, ,670 Ministries and Commissions 41,196 31,565 (9,631) 59,630 62,549 Total congregational development and support 320, ,365 (90,320) 335, ,797 Total program expenses 346, ,943 (68,208) 464, ,331 TEC Assessment 169, , , ,555 Province 8 Assessment 5,870 5,870-9,750 9,500 Total expenses 1,199,718 1,158,214 (41,504) 2,248,368 2,150,106 NET OPERATING INCOME (LOSS) (165,877) (228,259) 62,382 (445,958) (275,638) Cash items: Interest/ Dividends, net of fees 72,471 88,000 (15,529) 176, ,595 Realized Gains/ (Losses) 160, , ,210 Real estate holding costs (2,261) (2,363) 102 (4,725) (4,601) Rocklin Property Grants (13,473) - (13,473) - (13,473) Mission Development Grants Redway Outreach Grants (74,200) Archdeacon Fund for Education Grants (500) - (500) - (1,350) Fire Relief expenses (25,050) - (25,050) - (13,500) Discretionary fund expenses (9,199) - (9,199) - (22,587) Distributions to beneficiaries Total cash items 182,604 85,637 96, , ,094 INCREASE (DECREASE) IN UNRESTRICTED NET ASSETS BEFORE NON-CASH ITEMS 16,727 (142,622) 159,349 (274,683) 179,456 Non-cash items: Depreciation (OOB Property) (15,406) (23,500) 8,094 (47,000) (57,433) Depreciation (Church Property) (6,395) (6,000) (395) (12,000) (15,466) Investment unrealized gain (loss) (62,326) - (62,326) - (573,822) Bad debt expense ,271 Gain (loss) on disposal of property Contribution of property (195,071) Net assets released from restrictions 34,749-34, ,637 Total non-cash items (49,378) (29,500) (19,878) (59,000) (727,884) INCREASE (DECREASE) IN UNRESTRICTED NET ASSETS (32,651) (172,122) 139,471 (333,683) (548,428) TEMPORARILY RESTRICTED NET ASSETS: Cash items: Contributions General contributions 3,586-3,586-15,526 Episcopal Relief & Development - Fire Relief contiributions ,000 Discretionary fund - Fire Relief contributions 2,171-2,171-97,892 Discretionary fund contributions 4,861-4,861-21,493 Total cash items 10,618-10, ,911 Non-cash items: Change in value of charitable remainder trust assets (1,428) Net assets released from restriction (102,892) - (102,892) - (133,507) Total non-cash items (102,892) - (102,892) - (134,935) INCREASE (DECREASE) IN TEMPORARILY RESTRICTED NET ASSETS (92,274) - (92,274) - 9,976 PERMANENTLY RESTRICTED NET ASSETS: Change in value of charitable remainder trust assets (3,027) INCREASE (DECREASE) IN NET ASSETS (124,925) (172,122) 47,197 (333,683) (541,479) NET ASSETS, Beginning of the year 10,682,482 10,682,482 11,223,961 Net ASSETS, End of period 10,557,557 10,348,799 10,682,482 Page 74

5 THE EPISCOPAL DIOCESE OF NORTHERN CALIFORNIA BUDGET TO ACTUAL For Six Months Ended June 30, /30/16 ACTUAL YTD 2016 BUDGET FAVORABLE/ (UNFAVORABLE) CHANGE % CHANGE ANNUAL 2016 BUDGET 12/31/15 ACTUAL REVENUES OPERATING REVENUE Mission Apportionment, net 822, ,000 42,447 5% 1,560,000 1,636,093 Contributions, Bequests, etc. 1,853-1, % - 28,288 Other Revenue Event Revenue 99,268 65,750 33,518 51% 123, ,801 Interest Revenue (on Notes Receivable) 19,971 27,150 (7,179) -26% 54,300 52,922 Contract/ Services Revenue 16,105 3,955 12, % 7,910 12,810 Other Revenue 6,053 4,100 1,953 48% 8,200 10,684 Total Other Revenue 141, ,955 40,442 40% 193, ,217 Net Assets Released from Restriction 68,144 49,000 19,144 39% 49,000 21,870 TOTAL OPERATING REVENUE 1,033, , ,886 11% 1,802,410 1,874,468 OPERATING EXPENSES DIOCESAN OPERATING EXPENSES OFFICE OF THE BISHOP Personnel Gross Salary: Bishop 61,415 61,415-0% 122, ,614 Gross Salary: Bishop's Administrative (Executive) Assistant 31,310 31,310-0% 62,620 69,498 Gross Salary: Canon to the Ordinary 44,688 44,688-0% 89,375 88,490 Gross Salary: Canon to the Ordinary Support 22,044 21,239 (805) -4% 42,478 25,545 Gross Salary: Ministry Development Coordinator 17,691 17,691-0% 35,381 35,030 Gross Salary: Director of Finance & Administration 40,484 40,484-0% 80,968 80,167 Gross Salary: Benefits Coordinator 2,185 10,678 8,493 80% 21,355 18,312 Gross Salary: Office Coordinator 2,185 10,678 8,493 80% 21,355 24,168 Gross Salary: Receptionist and Administrative Assistant 17,893 - (17,893) -100% Gross Salary: Ordination Process Coordinator 6,220 5,158 (1,062) -21% 10,315 9,439 Gross Salary: Lifelong Christian Formation Coordinator 28,785 28,785-0% 57,570 33,052 Benefits 117, ,847 (14,621) -14% 205, ,559 Merit Increase - 2,500 2, % 5,000 - Overtime - 2,500 2, % 5,000 - Total Personnel 392, ,973 (12,395) -3% 759, ,418 Operating costs 230, ,035 (7,749) -3% 418, ,946 COMMUNICATIONS Total Office of the Bishop 623, ,008 (20,144) -3% 1,178,011 1,165,364 Gross Salary: Communications Director - 28,094 28, % 56,188 7,418 Gross Salary: Communications Coordinator (Support Agent) 25,250 25,250-0% 50,500 46,056 Benefits 8,901 20,050 11,149 56% 40,099 20,822 Operating costs 10,866 16,500 5,634 34% 33,000 6,281 GOVERNANCE Total Communications 45,017 89,894 44,877 50% 179,787 80,577 Board of Trustees 8,349 5,500 (2,849) -52% 11,000 11,332 Standing Committee 623 3,300 2,677 81% 6,600 6,586 Diocesan Convention % 54,000 44,041 General Convention % - 26,677 Other Committees (57) -28% Ecclesiastical Support 250 2,450 2,200 90% 4,900 15,666 Total Governance 9,758 11,729 1,971 17% 76, ,779 TOTAL DIOCESAN OPERATING EXPENSES 677, ,631 26,704 4% 1,434,698 1,350,720 PROGRAM EXPENSES YOUTH AND YOUNG ADULTS Program operating costs % - 1,355 YAYA Pilgrimage % 22,000 13,316 Grant to Camp Noel Porter - Operations 15,000 15,000-0% 41,500 41,500 Grant to Camp Living Waters % 600 2,705 Campus Ministries & Chaplains - 14,300 14, % 28,600 29,600 Total Youth and Young Adults 15,000 29,600 14,600 49% 92,700 88,476 Page 75

6 THE EPISCOPAL DIOCESE OF NORTHERN CALIFORNIA BUDGET TO ACTUAL For Six Months Ended June 30, /30/16 ACTUAL YTD 2016 BUDGET FAVORABLE/ (UNFAVORABLE) CHANGE % CHANGE ANNUAL 2016 BUDGET 12/31/15 ACTUAL OUTREACH Companion Diocese - 1,250 1, % 2,500 1,673 Episcopal Community Services 9,750 9,750-0% 19,500 19,500 ERD Coordinators' Network (416) -139% Jubilee Ministries % Millennium Development Goal (.007 of total revenue) - 6,428 6, % 12,855 14,090 Wallace House % - 1,462 Total Outreach 10,466 17,978 7,512 42% 35,955 37,058 CONGREGATIONAL DEVELOPMENT AND SUPPORT College for Congregational Development 102,860 60,000 (42,860) -71% 80,000 89,801 Deaneries 2,020 5,250 3,230 62% 10,500 4,978 Conferences Clergy Conference 25,728 26, % 26,000 25,039 Congregational Leadership Conferences 7,552 6,500 (1,052) -16% 6,500 6,571 Total Conferences 33,280 32,500 (780) -2% 32,500 31,610 Congregation and Clergy Support Theological/ Ordination Education and Clergy Wellness 53,144 49,000 (4,144) -8% 49,000 7,700 Ordinand Pilgrimage Fund 19,270 - (19,270) -100% - - Clergy Support and Development 11,659 3,250 (8,409) -259% 6,500 11,084 Congregational Development Group 2, (2,115) -1410% 300 3,287 Contingency for Clergy Legal Fees/Therapy - 1,000 1, % 2,000 - Safe Church Training % 300 1,118 Total Congregation and Clergy Support 86,338 53,550 (32,788) -61% 58,100 23,189 Grants Homeless Senior Needs (DFMS grant) % - 14,170 Roanridge (DFMS grant) % - - St. Matthew's Mission Enterprise (DFMS grant) 15,000 - (15,000) -100% - - Congregational Assistance - grants & contingencies 15,000 2,500 (12,500) -500% 5,000 12,500 Foundation Contribution 24,991 25, % 50,000 50,000 New/Emergent Ministries - 20,000 20, % 40,000 30,000 Total Grants 54,991 47,500 (7,491) -16% 95, ,670 Ministries and Commissions Archdeacon 13,519 4,090 (9,429) -231% 8,180 8,481 Lifelong Christian Formation (Christian Formation) 1,309 3,000 1,691 56% 6,000 1,184 Commission for Intercultural Ministries % 1,100 14,861 Commission on Ministry 4,295 4,150 (145) -3% 8,300 8,667 Commission on Women's Ministries % Committee on Lay Ministry % - - Disaster Planning % 1, Ecumenical Ministries 1,787 1,375 (412) -30% 2,750 1,804 Education for Ministry 1,500 1,500-0% 1,500 2,053 Health Ministries 543 2,750 2,207 80% 5,500 5,694 Liturgy & Music % 1, Indigenous (Native American) Ministries 1,122 1, % 3, Restricted Apportionment 8,848 2,000 (6,848) -342% 2,000 6,755 School for Deacons - 1,000 1, % 2,000 - Stewardship Commission (Commission on Gratitude) % 1,000 1,040 Total Ministry Development Group 5,901 4,500 (1,401) -31% 9,000 6,563 Transition Ministry/Deployment 1,779 2, % 5,400 2,917 Total Ministries and Commissions 41,196 31,565 (9,631) -31% 59,630 62,549 Total Congregational Development and Support 320, ,365 (90,320) -39% 335, ,797 TOTAL PROGRAM EXPENSES 346, ,943 (68,208) -25% 464, ,331 TEC ASSESSMENT 169, ,770-0% 339, ,555 PROVINCE 8 ASSESSMENT 5,870 5,870-0% 9,750 9,500 TOTAL OPERATING EXPENSES 1,199,718 1,158,214 (41,504) -4% 2,248,368 2,150,106 NET OPERATING INCOME/ (LOSS) (165,877) (228,259) 62,382 27% (445,958) (275,638) Page 76

7 THE EPISCOPAL DIOCESE OF NORTHERN CALIFORNIA OOB OPERATING COST BUDGET TO ACTUAL For Six Months Ended June 30, 2016 YTD 2016 BUDGET FAVORABLE/ (UNFAVORABLE) CHANGE ANNUAL 2016 BUDGET 06/30/16 ACTUAL % CHANGE 12/31/15 ACTUAL Accounting Fees 65,851 50,500 (15,351) -30% 101, ,111 Audits - Independent 20,459 20, % 20,500 21,963 Bank Fees % 1,300 1,306 Church Audits 4,344 3,700 (644) -17% 7,400 8,481 Computer Support 13,740 10,500 (3,240) -31% 21,000 20,688 Contributions % Staff Retreat 475 1, % 2, Equipment Lease % 1,600 1,604 Furniture, Equipment, Software 1,124 1, % 3,400 4,869 Insurance 5,876 5, % 11,800 11,798 Library Expense 1, (396) -53% 1,500 1,968 Legal Fees - 2,950 2, % 5,900 - Meals & Entertainment 4,000 6,500 2,500 38% 13,000 12,504 Memberships & Dues 1, (518) -74% 1,400 1,480 Office Supplies 3,421 4, % 8,000 12,696 Outside Services 2, (1,822) -243% 1,500 27,226 Postage 1,464 1,400 (64) -5% 2,800 3,840 Payroll Processing % 1,100 1,007 Printing 4,527 3,650 (877) -24% 7,300 10,297 Permits & License % Office Rent 34,669 45,550 10,881 24% 91,100 66,233 Records Storage 2,694 3, % 6,000 4,714 Repairs & Maintenance % 400 1,048 Telecommunications 8,171 8,000 (171) -2% 16,000 15,955 Continuing Education 2,729 5,000 2,271 45% 10,000 8,032 Sabbatical 9,715 7,500 (2,215) -30% 7, Support of Retirees 10,212 12,000 1,788 15% 24,000 27,466 Travel & Lodging 18,701 16,000 (2,701) -17% 32,000 40,679 Vestments 214 1,250 1,036 83% 2,500 2,689 Vision Process 6,890 - (6,890) -100% - 3,544 Web Development & Hosting (300) -100% - - Autos - Bishop and Canon 4,485 7,500 3,015 40% 15,000 14,796 Total OOB Operating Costs $ 230,784 $ 223,035 $ (7,749) -3% $ 418,070 $ 459,946 Page 77

8 Page 2 The Episcopal Diocese of Northern California Congregation Ranges Page 3 Points Comparison Compensation Ranges 2017 Church Name #7 Sunday Attendance # 1 Pledge Cards Operating Expenses #12 & 14 #14 Other Expenses Outreach #13, 16, 17, Points Change from Prior Year 2017 Points No House Provided With House Provided Bishop Base> $ 90,004 $ 80,419 Midpoint> $ 110,475 $ 100,889 High> $ 130,939 $ 121,354 Range G (500 & up) 8 Delegates Allowed* Base> $ 81,389 $ 62,606 Trinity Cathedral (Sacramento) $1,401,091 $1,197,035 $116, Midpoint> $ 98,628 $ 75,870 Incarnation (Santa Rosa) $742,173 $640,734 $106, WAS F High> $ 115,859 $ 89,126 Range F ( ) 7 Delegates Allowed Base> $ 74,925 $ 57,636 St. Michael's (Carmichael) $648,355 $549,865 $14, Midpoint> $ 90,011 $ 69,237 Faith (Cameron Park) $516,541 $442,637 $90, High> $ 105,092 $ 80,839 Grace (Saint Helena) $21,974 $21,974 $613, St. John's (Roseville) $478,716 $427,545 $50, WAS E St. Martin's (Davis) $464,360 $384,133 $55, WAS E Range E ( ) 6 Delegates Allowed Base> $ 70,614 $ 54,319 Trinity (Folsom) $434,884 $372,255 $29, Midpoint> $ 84,621 $ 65,095 St. Mary's (Napa) $422,045 $341,546 $19, High> $ 98,621 $ 75,862 St. Augustine (Rocklin) $316,275 $289,750 $59, WAS D Emmanuel (Grass Valley) $300,369 $256,513 $34, WAS D Range D ( ) 5 Delegates Allowed Base> $ 66,310 $ 51,009 St. Paul's (Benicia) $301,168 $263,205 $33, WAS E Midpoint> $ 79,236 $ 60,959 St. John's (Chico) $291,951 $249,049 $20, High> $ 92,165 $ 70,898 St. Patrick's (Kenwood) $275,492 $228,959 $19, WAS E Holy Trinity (Nevada City) $258,092 $220,477 $6, All Saints' (Redding) $260,783 $224,031 $25, All Saints' (Sacramento) $270,520 $234,676 $43, Christ (Eureka) $229,472 $199,108 $40, WAS C Range C ( ) 4 Delegates Allowed Base> $ 61,999 $ 47,694 St. Paul's (Healdsburg) $220,365 $191,154 $30, Midpoint> $ 73,853 $ 56,808 St. John's (Petaluma) $214,711 $182,146 $2, High> $ 85,700 $ 57,636 St. Luke's (Auburn) $204,403 $198,173 $17, WAS B St. Stephen's (Sebastopol) $192,734 $163,518 $8, St. Luke's (Woodland) $180,363 $155,710 $ Trinity (Sutter Creek) $161,893 $139,847 $17, Trinity (Sonoma) $174,979 $155,113 $5, WAS B St. Alban's (Arcata) $154,385 $131,913 $26, WAS B Range B ( ) 3 Delegates Allowed Base> $ 55,536 $ 42,718 St. Francis (Fair Oaks) $150,503 $136,096 $30, WAS C Midpoint> $ 65,229 $ 50,177 Epiphany (Vacaville) $161,746 $141,210 $5, High> $ 74,925 $ 57,636 St. Nicholas' (Paradise) $101,916 $92,943 $60, WAS C St. James (Lincoln) $138,423 $121,399 $37, Grace (Fairfield) $130,425 $111,602 $8, St. John's (Marysville) $97,685 $90,137 $49, WAS A Our Savior (Placerville) $130,427 $119,850 $4, WAS A Page 78

9 The Episcopal Diocese of Northern California Congregation Ranges Page 2 Page 3 Points Comparison Compensation Ranges 2017 Church Name #7 Sunday Attendance #1 Pledge Cards Operating Expenses #12 & 14 #14 Other Expenses Outreach #13, 16, 17, Points Change from Prior Year 2017 Points No House Provided With House Provided Range A (below 90) 3 Delegates Allowed Per agreement of St. Mary's (Elk Grove) $114,148 $100,722 $8, Bishop/Congregation Ascension (Vallejo) $127,929 $113,337 $2, St. Paul's (Sacramento) $108,480 $100,046 $9, St. Clement's (Rancho Cordova) $101,557 $89,994 $20, Holy Trinity (Ukiah) $100,329 $91,909 $7, St. Michael's (Anderson) $106,340 $94,159 $1, St. Barnabas' (Mount Shasta) $74,670 $69,765 $18, St. Paul's (Oroville) $88,806 $80,489 $8, St. George's (Carmichael) $67,535 $61,623 $17, St. Peter's (Red Bluff) $82,291 $75,175 $4, St. Michael's (Fort Bragg) $78,364 $72,350 $7, St. Matthew's (Sacramento) 32 9 $30,915 $29,243 $62, St. Francis' (Fortuna) $70,743 $62,145 $8, St. Andrew's (Antelope) $58,444 $53,162 $ St. Luke's (Calistoga) $45,624 $40,540 $17, St. Luke's (Galt) $54,772 $50,108 $1, St. Stephen's (Colusa) $37,036 $33,523 $22, St. Francis (Willits) $30,441 $28,844 $15, Good Shepherd (Cloverdale) $37,837 $34,632 $3, St. Nicholas' (Tahoe City) 26 0 $31,319 $28,312 $22, St. Paul's (Crescent City) $35,631 $32,393 $4, St. John's (Lakeport) $33,818 $31,342 $3, Grace (Wheatland) $27,664 $24,797 $5, St. Brigid of Kildare (Rio Vista) $24,939 $23,184 $3, St. James' (Yuba City) $23,625 $19,881 $5, Christ (Quincy) $3,956 $3,300 $18, Holy Trinity (Willows) $24,642 $22,224 $ St. Timothy's (Gridley) 17 0 $24,994 $24,413 $1, Good Shepherd (Susanville) $18,914 $18,914 $ St Michael's (Alturas) 12 8 $17,661 $16,388 $4, Holy Spirit (Lake Almanor) 10 8 $9,146 $8,358 $8, Shepherd by the Sea (Gualala) 25 0 $6,980 $5,000 $5, St. Andrew's (Corning) 13 0 $11,597 $10,823 $3, St. Mary's (Ferndale) 6 0 $13,605 $11,997 $2, Totals 5,222 3,835 $11,773,971 $10,237,395 $2,012,221 8, , Compensation Ranges include: regular salary, housing, allowance for social security, etc. The ranges do not include health insurance, travel, pension, education, etc. Points are calculated as follows from Parochial Report line items: Line #7 x 25% + The 2017 Compensation Ranges do not include a COLA. The Employment Practices & Benefits Committee did not Line #1 x 25% + recommend a COLA for (Total Lines 13, 16, 17, 18, 12, 14)/1000 x 50% Transitional Deacon should be paid at 90% of Range "B" Base (100% when ordained a priest). For example: Diocesan executive staff are paid at Range "E"; program staff are paid per hire letter. Average attendance (#7) = 200 x 25% = 50 # of pledge cards (#1) = 120 x 25% = 30 All other ordained clergy, if employed by a congregation must be compensated at Range "B" or Work Outside (#13, 16, 17, 18) = 20,000 + greater. This is prorated based on full time equivalent. Operating Exp (#12, 14) = 100,000 = 120,000/1000 x 50% 60 For regional missioners combine total points from each church. Below 120 points, minimum is Range "B" Base plus $1,500. For 120 points and higher, minimum is Range "C" Base plus $1,500. Maximum is Range "C". Total Points 140 For Congregations receiving assistance, maximum clergy salary is Range "B" Base. Points of 140 reflects Range C See Article V, Section 5 of the Constitution of the Episcopal Church in the Diocese of Northern California for guidance on Lay Delegates to Convention. *One additional Delegate is allowed for every 100 Congregational Points, in the previous year, above the Diocesan Standard. Page 79

10 2016 TMRs Received The Episcopal Diocese of Northern California Status of Mission Apportionment As of October 20, 2016 Church Mission Apportionment Promissory Notes Prior Year Mission Apportionment Due 2016 Current Balance Due (Prepayment) Mission Payments Including Promissory Apportionment Received Notes* Page 80 Alturas, St. Michael's $ 1,064 $ 1,064 January - August 2016 Anderson, St. Michael's 6,265 6,265 January - September 2016 Antelope, St. Andrew's 3,479 3,479 January - September 2016 Arcata, St. Alban's 13,595 13,858 $ (263) January - August 2016 Auburn, St. Luke's 21,246 18,618 2,628 January - September 2016 Benicia, St. Paul's 32,098 27,688 4,410 January - September 2016 Calistoga, St. Luke's (277) None Cameron Park, Faith 55,463 55,463 January - September 2016 Carmichael, St. George's $ ,123 (3,691) January 2016 Carmichael, St. Michael's 54,969 44,744 10,225 January - August 2016 Chico, St. John The Evangelist 29,988 29,988 January - September 2016 Cloverdale, Good Shepherd 2,154 2,372 (218) January - September 2016 Colusa, St. Stephen's 3,394 3,821 (427) January - September 2016 Corning, St. Andrew's (408) January - August 2016 Crescent City, St. Paul's 2,395 2, January - September 2016 Davis, St. Martin's 52,091 52,091 January - August 2016 Elk Grove, St. Mary's 11,416 10,201 1,215 January - September 2016 Eureka, Christ Church 22,030 22,030 January - September 2016 Fair Oaks, St. Francis' 14,221 14,221 January - September 2016 Fairfield, Grace 9,207 9,207 January - July 2016 Ferndale, St. Mary's 1,072 1,129 (57) January - September 2016 Folsom, Trinity 57,098 63,028 (5,930) January - September 2016 Fort Bragg, St. Michael & All Angels 4,720 4,720 January - August 2016 Fortuna, St. Francis' 6,216 6,216 January - September 2016 Galt, St. Luke's 3,336 3,336 January - September 2016 Grass Valley, Emmanuel 36,275 36,275 January - September 2016 Gridley, St. Timothy's 1,036-1,036 January - August 2016 Gualala, Shepherd by the Sea 1,973 2,047 (74) January - September 2016 Healdsburg, St. Paul's 18,572 18,572 January - September 2016 Kenwood, St. Patrick's 32,233 31, January - September 2016 Lake Almanor, Holy Spirit (216) January - September 2016 Lakeport, St. John's 2,479 2, January - September 2016 Lincoln, St. James 10,441 10,441 January - September 2016 Marysville, St. John's $ 3,388 4,460 4,460 3,388 January - September 2016 Mount Shasta, St. Barnabas' 5,137 5,137 January - September 2016 Napa, St. Mary's 39,896 36,019 3,877 January - September 2016

11 2016 TMRs Received *Note: Current Balance Due is based on Treasurer's Monthly Reports (TMRs) received as of October 20, 2016 and balance of Mission Apportionment Promissory Notes. See 2016 TMRs Received column for months received. The Episcopal Diocese of Northern California Status of Mission Apportionment As of October 20, 2016 Church Mission Apportionment Promissory Notes Prior Year Mission Apportionment Due 2016 Current Balance Due (Prepayment) Mission Payments Including Promissory Apportionment Received Notes* Page 81 Nevada City, Holy Trinity 27,314 27,828 (514) January - August 2016 Oroville, St. Paul's 4,601 4,601 January - September 2016 Paradise, St. Nicholas' 7,053 7,053 January - September 2016 Petaluma, St. John's 25,659 25,759 (100) January - September 2016 Placerville, Our Saviour 6,579 6,579 January - September 2016 Quincy, Christ the King 1, January - July 2016 Rancho Cordova, St. Clement's 6,312 6,341 (29) January - September 2016 Red Bluff, St. Peter's 3,083 4,940 4,940 3,083 January - August 2016 Redding, All Saints' 28,823 29,236 (413) January - September 2016 Rio Vista, St. Brigid 1,391 1,398 (7) January - September 2016 Rocklin, St. Augustine 25,704 25,758 (54) January - September 2016 Roseville, St. John's 4,742 38,321 34,053 9,010 January - September 2016 Sacramento, All Saints' 30,074 30,074 January - September 2016 Sacramento, St. Matthew's 871 1,289 (418) January - June 2016 Sacramento, St. Paul's 26,956 26,956 January - August 2016 Sacramento, Trinity Cathedral 39, ,096 86,681 98,529 January - September 2016 Santa Rosa, Incarnation 75,977 75,977 January - September 2016 Sebastopol, St. Stephen's 25,578 25,578 January - August 2016 Sonoma, Trinity 14,309 14,359 (50) January - September 2016 St. Helena, Grace 18,945 18,945 January - September 2016 Susanville, Good Shepherd 1, ,018 None Sutter Creek, Trinity 11,866 10,035 1,831 January - August 2016 Tahoe City, St. Nicholas' 1,978 3,948 (1,970) January - August 2016 Ukiah, Holy Trinity 4,737 4,836 (99) January - September 2016 Vacaville, Epiphany 13,278 13,278 January - August 2016 Vallejo, Ascension 9,757 9,876 (119) January - August 2016 Wheatland, Grace 2,382 2, January - September 2016 Willits, St. Francis' 1,671 1,743 (72) January - August 2016 Willows, Holy Trinity 1, January - August 2016 Woodland, St. Luke's 15,039 15,039 January - February and April - August 2016 Yuba City, St. James 2,748 4,108 (1,360) January - September 2016 Totals $ 3,388 $ 48,535 $ 1,143,201 $ 1,070,060 $ 125,064

12 Accrual Basis The Episcopal Foundation of Northern California Statement of Financial Position Sep 30, 16 Dec 31, 15 ASSETS Current Assets Checking/Savings 1002 Checking - UBOC 28,472 14, Checking - Trust account 2,626 5, PayPal 0 1,856 Total Checking/Savings 31,098 21,860 Other Current Assets 1205 Other Receivable Undeposited Funds 0 5, Prepaid Insurance Prepaid Expenses - Other Investment Fund - C Fund 15,078 15, Investment-Schwab Investment-UnionBanc 2,656 2,656 Total Other Current Assets 18,265 24,200 Total Current Assets 49,363 46,060 Fixed Assets 1500 Computer Equipment 8,015 8, Accumulated Depreciation (5,855) (5,855) Total Fixed Assets 2,160 2,160 Other Assets 1800 Foundation Investments 1,321,036 1,270, Investments-Held for Others 1,117,244 1,070, Note Receivable- Baker 350, , Charitable Remainder Trusts 67,189 79,737 Total Other Assets 2,855,469 2,771,086 TOTAL ASSETS 2,906,992 2,819,306 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 Accounts Payable 498 7,109 Total Accounts Payable 498 7,109 Other Current Liabilities 2050 Accrued Expenses 625 5, Deferred Revenue 4, Pass-through donations 2,614 11,595 Total Other Current Liabilities 7,406 16,690 Total Current Liabilities 7,904 23,799 Long Term Liabilities 2700 Held for Other Agencies 1,117,244 1,070,501 Total Long Term Liabilities 1,117,244 1,070,501 Total Liabilities 1,125,148 1,094,300 Equity 3100 Unrestricted Net Assets 458, , Temp. Restricted Net Assets 800, , Perm. Restricted Net Assets 522, ,865 Total Equity 1,781,844 1,725,006 TOTAL LIABILITIES & EQUITY 2,906,992 2,819,306 Page 82 Page 1 of 1

13 Accrual Basis The Episcopal Foundation of Northern California Budget To Actual For Nine Months Ending September 30, 2016 Jan - Sep 16 Budget $ Over Budget % of Budget Ordinary Income/Expense Income 4000 Donations/ Contributions 4010 Gifts from Individuals/ Estates 7, Diocesan Contribution 37,503 50,000 (12,497) 75% 4040 Board Giving 0 1,500 (1,500) 0% 4070 Annual Appeal (Mailer) 125 Total 4000 Donations/ Contributions 45,010 51,500 (6,490) 87% 4900 Investment Income 4910 Investment Interest/ Dividends 11,303 19,000 (7,697) 59% 4920 Realized Gains/ Losses 20, Investments Expenses (1,782) (5,000) 3,218 36% Total 4900 Investment Income 29,659 14,000 15, % 4950 Released from Restriction 35,048 Total Income 109,717 65,500 44, % Gross Profit 109,717 65,500 44, % Expense 6220 Bank and Credit Card Fees (135) 10% 6240 Board Related Expenses (500) 0% 6350 Database (500) 0% 6400 Depreciation 0 1,400 (1,400) 0% 6410 Dues & Subscriptions (200) 0% 6432 Event expense (800) 0% 6435 Fundraising (500) 0% 6437 Insurance 939 1,200 (261) 78% 6438 Occupancy Costs 5,933 7,910 (1,977) 75% 6440 Office Supplies (198) 60% 6450 Marketing & Promotional Expense (250) 0% 6460 Meals & Entertainment (500) 0% 6463 Printing & Copies (520) 20% 6464 Payroll Fees Postage 89 1,500 (1,411) 6% 6467 Professional Fees 6100 Accounting Fees 6,416 15,000 (8,584) 43% 6351 Grant Researcher 0 2,000 (2,000) 0% 6443 Legal Support 0 2,000 (2,000) 0% 6444 Administrative Support 18,225 24,300 (6,075) 75% Total 6467 Professional Fees 24,641 43,300 (18,659) 57% 6470 Telephone & Communications (421) 16% 6490 Training & Education (100) 0% 6500 Travel & Lodging (100) 0% 6515 Website/ Hosting (21) 90% 6600 Restricted Expenses 22,500 Total Expense 55,104 60,760 (5,656) 91% Net Ordinary Income 54,613 4,740 49,873 1,152% Page 83 Page 1 of 2

14 Accrual Basis The Episcopal Foundation of Northern California Budget To Actual For Nine Months Ending September 30, 2016 Jan - Sep 16 Budget $ Over Budget % of Budget Other Income/Expense Other Income 4915 Unrealized Gains/ Losses 11, Temporarily Restricted Activity 8105 Restricted Investment Int/ Divd 8, Restricted Realized gains/loss 16, Restricted Unrealized gain/ los 8, Restricted Investment Expense (1,642) 8300 Restricted Distributions (38,769) Total 8100 Temporarily Restricted Activity (6,916) Total Other Income 4,117 Other Expense 8551 Trustee Expenses 8550 Pooled Income Fund Expenses 1,875 3,300 (1,425) 57% 8552 Life Insurance premiums (3) 85% Total 8551 Trustee Expenses 1,892 3,320 (1,428) 57% Total Other Expense 1,892 3,320 (1,428) 57% Net Other Income 2,225 (3,320) 5,545 (67%) Net Income 56,838 1,420 55,418 4,003% Page 84 Page 2 of 2

15 Accrual Basis The Episcopal Foundation of Northern California Net Asset Rollforward For the Periods Ended December 31, 2015 and September 30, 2016 Balance Net Balance 12/31/2015 Income 9/30/2016 Permanently Restricted Jenkins Fund (10/13/1992)-Cathedral Only 152, ,967 Sims Fund (3/2/1988)-Cathedral Only 52,378 52,378 Baker Loan 172, ,966 Blackmore Funds (5/12/06) 124, ,406 Aids Ministry (1994)-No Beginning Balance 1,406 1,406 Charmin Sharder (6/30/1993) 18,742 18, , ,865 Temporarily Restricted Charitable Remainder Trusts 77,024 (12,548) 64,476 Williams Fund 79,825 3,567 83,392 Other Unknown (Not yet researched)-somerville 401, ,129 Reclassification for various funds (Restriction Unknown) (133,529) 10,456 (123,073) Baker Loan 177, ,034 Blackmore Funds for Davis 21,807 3,491 25,298 Jenkins Fund - Trinity Cathedral 14, ,479 Sims Fund - Trinity Cathedral 30,459 1,990 32,449 Weaver Funds (7/1997) 117,407 (16,887) 100,520 Aids Ministry - Investment Income (Perm Rest) Aids Ministry (1994-No Beg Bal)- Investment Income (Temp Rest) Sharder-Investment Income to the Cathedral 20,117 1,657 21, ,299 (6,916) 800,383 Unrestricted Operations (206,962) 23,225 (183,737) Reclassification for various funds 222,282 4, ,719 Jenkins Fund - Investment Income-Foundation 264,033 24, ,090 Sims Fund - Investment Income- Foundation 47,579 4,505 52,084 Blackmore Fund - Investment Income 50,014 6,497 56,511 Brooks Fund - Original Gift (Board designation) 4,445 4,445 Brooks Fund - Investment Income (42) Bergen Fund - Original Gift (Board designation) 13,540 13,540 Bergen Fund - Investment Income (47) ,842 63, ,596 Total Net Assets 1,725,006 56,838 1,781,844 Page 85

16 Investment Fund Committee Submitted by: Steve Huffman, Chair Dear Convention Delegate: The Investment Fund is the investment arm of the Diocese. Our Bishop and seven of us volunteers comprise the Investment Fund Committee. We have backgrounds in finance, banking, accounting and business in general. We provide management of the invested funds of the Diocese itself, the Episcopal Foundation of Northern California, Episcopal Community Services and 41 congregations. We utilize professional consultants for custodial and investment management expertise. The investment returns have been competitive and the assets have been secure. You should note that as with any investment there is not a guarantee as to yields or return of principal, but the Investment Fund has developed an investment policy to try to balance enhanced returns with investment risk. The Investment Fund not only brings an investment option to many institutions in the diocese but also advances its mission by helping congregations grow. Among our investments are 13 loans to congregations and diocesan organizations for new construction and major renovations, and to clergy for housing. The percentage of the Balanced Fund portfolio invested in loans has ranged from 12 percent to 19 percent during the past three years. We have never written off a loan, and in several cases loans have been paid off early. This, of course, doesn t provide a guaranty for the future. So, to be prudent, we have also established a Reserve for Bad Debt to cover potential future problems. If your congregation invests its funds with us, we thank you. We aim to continue to earn your confidence. As of September 30, 2016, investments totaled $20,791,954. Our return after fees for the first nine months of this year was 5.51% for the Balanced Fund, 4.87% for the Bond Fund and 0.20% for the Cash Fund. Our returns compared favorably with applicable indices. The three-year annualized return after fees was 5.36% for the Balanced Fund, 2.76% for the Bond Fund and 0.09% for the Cash Fund. Again those returns compared favorably with applicable indices. If your congregation has funds to invest long-term, we hope you will consider investing with us. If you have funds you do not need to tap into in the next three to five years, you should consider investing them in the Balanced Fund. Go to to learn more. There you will find more about us and what we do. You can read our investment policy, learn about our careers in church and business, and get information on loans. Your treasurer can use the site to make additional investments, withdraw funds, and transfer funds. Each month we send each of our investors reports regarding the status of their accounts. Page 86

17 We stand ready to answer any questions you may have. Please reach us through Lisa Bruno, Director of Finance & Administration at the Office of the Bishop, or ext Yours in Christ, +Barry Beisner Jim Dodds Steve Huffman St Michael s Carmichael All Saints Sacramento Amanda Johnson Elizabeth McClatchy Bob Mohler Grace Wheatland Trinity Cathedral St Michael s Carmichael Sharon Morrison Faith Cameron Park Tina Treis St John s Roseville Page 87