Unitarian Universalist Church of Arlington. Board of Trustees Meeting Minutes. November 17, 2015

Transcription

1 Unitarian Universalist Church of Arlington Board of Trustees Meeting Minutes November 17, 2015 Attendees: Board of Trustees (Stephen Brannon, Chair; Paula Bendl Smith; John Bohman; Wendy Jessup; Janice Morris; Chad Ohlandt; Kristen Patterson; Mary Pike; Andrea Ryon); Peter Vitaliano (Treasurer); Joan Perry (Secretary); Allen Keiswetter and Kate Beysselance (Strategic Planning Committee) 7:30 Call to Order, Chalice Lighting, and Check-in Reading: excerpt from FDR s First Inaugural Address Consent Agenda Minutes of 27 October 2015 Board Meeting APPROVED Previous Action Items Status # Person Responsible Action Status 1 Board Spend at least one hour to identify behaviors from covenant conversation and distill them down. Send the results to Joan to compile. 2 Rev. Aaron Provide an update on the bid process for a new HVAC. 3 Peter Vitaliano Provide an update on the status of the Open Door Housing Fund loan Done Rev. Aaron could not attend the meeting Done 4 Rev. Aaron Publish completed Annual Report Due December 1 Ends Policy Considerations in the near Future (Board, Strategic Planning Committee (SPC)) Steve lead the board in an open brainstorming discussion about the church s Ends. Since the Strategic Planning Committee is working on a 5 year plan right now, they were invited to participate in the discussion as well. UUCA has three Ends: People feel they belong and are cared for. People experience a spiritually vital faith community. 1

2 The Church is a force for service and social justice. The Ends were last revised in There is some concern that the Ends are too broad and perhaps not powerful enough. The Ends should be a statement of success. They should be measurable and specific. They should guide the minister s plan for the future. The board highlighted aspects of the Ends that it plans to consider addressing in the near future for the SPC. Allen Keiswetter and Kate Beysselance from the SPC stressed that the 5-year Strategic Plan will serve as a guide in implementing the Church's policies and its Ends. They hope to complete their work by late spring This process along with linkage opportunities with the congregation will help guide the board s ongoing dialogue about how to potentially further refine the Ends. The SPC will update the board regularly on its work. General Plan for Policy Work (Steve Brannon) The board started by identifying its common interests for policy work: 1) We want our policy to be grounded in linkage with the congregation 2) We want to improve our Ends, not throw them out 3) We want to communicate our mission, Ends, and values to the congregation more effectively 4) We want to provide the Strategic Planning Committee with as much information as we can 5) We want to develop an effective and repeatable board process for revising Ends The board then brainstormed ways it might approach revising policies and decided to pursue several of them. After some discussion, it was decided the policy working group will propose adjustments to the Executive Limitations based on last year s monitoring experience as soon as is practical. The entire board will review each of the Ends as it is monitored (One a month for Jan-Mar). It was also decided the board will review all the Ends in depth around May, after the completion of the Linkage project. Financial Report (Beth Enriquez could not attend meeting) ATTACHMENT 1 Treasurer s Update (Peter Vitaliano) ATTACHMENT 2 Peter said the cash flow is good right now with pledge payments up and costs down. We are seeing savings due to staff vacancies and staff cuts from last spring. Rental income is still running ahead of last year. The cost of the HVAC replacement will be completely covered by the unexpected gift of $250,000 worth of stock. This was a huge necessary expense and the church is incredibly grateful for this money. The budget next year will look quite different. We expect to be fully staffed which will increase operating expenses. Plus the refinanced loan will increase the mortgage payment. 2

3 Closing Reading: The Peace of Wild Things by Wendell Berry 9:45 Adjournment ACTION ITEMS # Person Responsible Action Due Date 1 Rev. Aaron Publish completed Annual Report December 1 3

4 ATTACHMENT 1 4

5 October 2015 Revenue Attached is summary page for revenue and expenses showing pledges and contributions nearly $38,000 higher YTD than last year through October. The month of October saw a drop in pledge income compared to last year after a very strong first quarter result. The drop is primarily due to the timing of payments with more large donors making payment earlier in the year this year. Annual pledge balance statements were sent out to members and friends in early November and we have seen a pickup in payments in November. Rental income remains strong and is $17,000 higher than the previous year. due to additional rentals from summer camps and due to the rental received from the Moroccan American Community who are now holding their Friday prayer services here on Friday afternoons. Rental income remains ahead of expectations at 37% received of the total $116,000 budgeted through October. Note: The October 2014 YTD total for other revenue includes $80,000 in memorial garden fees recognized as income in error. This amount should have been recognized as a release of funds from the memorial garden fund to the general operating budget and not as income. The error will correct in Feb October 2015 Expenses Attached is summary page for revenue and expenses continues to show savings in the Staff line due to the vacancies in the DLRE and COO positions as well as the reduction in staff hours and the reduction in the retirement contribution by the church from 14% to 11% effective 7/1/15. The savings is somewhat offset by additional hours approved for select staff until the new administrator is on board and transition expenses for the new DLRE. GTP YTD: $34,010 Report attached Capital Campaign Pledges Collected in October totaled $9,715 A graph showing the progression of revenue and expenses for YTD October 2015 vs. YTD October 2014 is attached. 5

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7 Run Date 11/13/ Unitarian Universalist Church of Arlington, VA Page 1 Time 16:38:52 Fiscal Year Beginning 7/1/2015 Budgeted Financial Statement for Period 04 October(*) 33.33% Revenues and Expenses Summary Report Description Actual for Period Actual YTD Budget Annual Budget % Bud Balance Act PY Period Act PY to Date REVENUE -- GENERAL OPERATING FUND 4099 Pledges & Contributions 66, , ,264, , , , Fundraising Revenue , , , , Rental Revenue 11, , , , , , Program Revenue , , Other Revenue , , , , , TOTAL REVENUES 78, , ,468, , , , Staff 71, , , , , , Church Office 2, , , , , , Ministry & Worship 1, , , , , , Children & Youth Ministry 1, , , , , , Member Support , , , , Communications , , , , Faith in Action & Outreach.00 9, , , , Our Wider Movement.00 9, , , , Buildings & Grounds 13, , , , , , Mortgage 10, , , , , , TOTAL EXPENDITURES 101, , ,466, ,016, , , ******SUMMARY****** TOTAL REVENUE 78, , ,468, , , , TOTAL EXPENDITURES -102, , ,466, ,015, , , NET -24, , , ****** -44, , ,

8 UUCA Give the Plate Contributions and Disbursements Through 10/31/15 Total Contributions Through 10/31/15 34, Payments to Recipient Organizations Date of Date Paid Collection Recipient Organization Name Amount 7/11/2015 7/5/2015 AFAC 1, /24/2015 7/12/2015 UUA - James Reeb Fund 1, /3/2015 7/19 &7/26/15 APAH 2, /17/2015 8/2/2015 NAACP 1, /21/2015 8/9/2015 ALIVE! 1, /21/2015 8/16/2015 Centro de Alfabetizacion en Espanol 2, /28/2015 8/23/2015 ASPAN 1, /12/2015 8/30/2015 Beacon House 1, /12/2015 9/6/2015 Offender Aid & Restoration 1, /26/2015 9/13 & 9/20/15 Legal Aid Justice Center 4, /3/2015 9/27/2015 VACOLAO 1, /5/ /4/2015 AFAC 3, /24/ /11/2015 ASPAN 1, /24/ /11/15-Install UUA Living Tradition Fund 2, /24/ /11/15-Install Meadville Lomard Theological School 2, /30/ /18/2015 ALIVE! 1, /3/ /25/2015 UUSC-Refugee Relief Fund 3, ,

9 ATTACHMENT 2 9

10 Report to: From: Date: UUCA Board of Trustees UUCA Treasurer November 17, 2015 Board Meeting Linkage There are several important Committees and activities in the Church that involve financial matters, among and between which it is important to maintain coordination and communication. It is one of the responsibilities of the Treasurer to work with others in the church to facilitation such coordination and communication. I have accordingly been in communication with Allen Kieswetter, following his initial contact, to establish a link between the Strategic Planning Committee and the Finance Committee. Allen made a presentation on the work of the SPC at the Nov. 12 meeting of the FC and requested input from the FC on goals, indicators and metrics in the financial area. I also attended the Nov. 10 meeting of the annual campaign committee, which requested input from the FC on several top-line budget priorities for the church for potential use in the upcoming annual campaign. The FC will respond to these two requests in a timely fashion. Bill Fogarty also briefed the FC on plans to wind up the Capital Campaign and plans for initiating discussions with banks on refinancing the church mortgage and construction loans. Finance Committee The Finance Committee and its Investment Committee subsidiary are effectively a group of volunteer staff. They are not policy-making committees but operate to advise and assist the Executive in matters related to church finances. The FC is temporarily being convened by the church bookkeeper and chaired by the Treasurer. More specific working relationships between the FC and the church staff will be established by the new COO. Status of Loan from UUCA Endowment Fund to OpenDoor Housing Fund Gene Mulligan requested and received a copy of the most recent financial statement from the OpenDoor Housing Fund, from which the Endowment Fund holds notes receivable with a face value of $41,500. ODHF is in the process of liquidation, has closed its office and is operating without paid staff. It has promised that approximately 30% of the principal face value of these notes plus any interest that was due as of June 30, 2015 will be paid by mid-december of this year, with subsequent disbursements to be made as funds become available to ODHF through future repayments of outstanding loans by current borrowers. The ODHF statements are dated June 30, 2014, and are complex and difficult to assess from the perspective of estimating any payments the church might expect in addition to the 30% promised repayment next month. We will attempt to further assess the status of the notes following receipt of that promised repayment. Endowment Fund balance in Fiscal Year Beginning 7/1/

11 The assets of the Endowment Fund were listed in the UUCA balance sheet as $991,797 for July, $952,547 for August and $922,585 for September, and $963,317 for October, reflecting the impact of the stock market volatility during the fiscal year to date on the Fund s portfolio of investments. Peter Vitaliano Treasurer, UUCA 11

12 ATTACHMENT 1 12

13 October 2015 Revenue Attached is summary page for revenue and expenses showing pledges and contributions nearly $38,000 higher YTD than last year through October. The month of October saw a drop in pledge income compared to last year after a very strong first quarter result. The drop is primarily due to the timing of payments with more large donors making payment earlier in the year this year. Annual pledge balance statements were sent out to members and friends in early November and we have seen a pickup in payments in November. Rental income remains strong and is $17,000 higher than the previous year. due to additional rentals from summer camps and due to the rental received from the Moroccan American Community who are now holding their Friday prayer services here on Friday afternoons. Rental income remains ahead of expectations at 37% received of the total $116,000 budgeted through October. Note: The October 2014 YTD total for other revenue includes $80,000 in memorial garden fees recognized as income in error. This amount should have been recognized as a release of funds from the memorial garden fund to the general operating budget and not as income. The error will correct in Feb October 2015 Expenses Attached is summary page for revenue and expenses continues to show savings in the Staff line due to the vacancies in the DLRE and COO positions as well as the reduction in staff hours and the reduction in the retirement contribution by the church from 14% to 11% effective 7/1/15. The savings is somewhat offset by additional hours approved for select staff until the new administrator is on board and transition expenses for the new DLRE. GTP YTD: $34,010 Report attached Capital Campaign Pledges Collected in October totaled $9,715 A graph showing the progression of revenue and expenses for YTD October 2015 vs. YTD October 2014 is attached. 13

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15 Run Date 11/13/ Unitarian Universalist Church of Arlington, VA Page 1 Time 16:38:52 Fiscal Year Beginning 7/1/2015 Budgeted Financial Statement for Period 04 October(*) 33.33% Revenues and Expenses Summary Report Description Actual for Period Actual YTD Budget Annual Budget % Bud Balance Act PY Period Act PY to Date REVENUE -- GENERAL OPERATING FUND 4099 Pledges & Contributions 66, , ,264, , , , Fundraising Revenue , , , , Rental Revenue 11, , , , , , Program Revenue , , Other Revenue , , , , , TOTAL REVENUES 78, , ,468, , , , Staff 71, , , , , , Church Office 2, , , , , , Ministry & Worship 1, , , , , , Children & Youth Ministry 1, , , , , , Member Support , , , , Communications , , , , Faith in Action & Outreach.00 9, , , , Our Wider Movement.00 9, , , , Buildings & Grounds 13, , , , , , Mortgage 10, , , , , , TOTAL EXPENDITURES 101, , ,466, ,016, , , ******SUMMARY****** TOTAL REVENUE 78, , ,468, , , , TOTAL EXPENDITURES -102, , ,466, ,015, , , NET -24, , , ****** -44, , ,

16 UUCA Give the Plate Contributions and Disbursements Through 10/31/15 Total Contributions Through 10/31/15 34, Payments to Recipient Organizations Date of Date Paid Collection Recipient Organization Name Amount 7/11/2015 7/5/2015 AFAC 1, /24/2015 7/12/2015 UUA - James Reeb Fund 1, /3/2015 7/19 &7/26/15 APAH 2, /17/2015 8/2/2015 NAACP 1, /21/2015 8/9/2015 ALIVE! 1, /21/2015 8/16/2015 Centro de Alfabetizacion en Espanol 2, /28/2015 8/23/2015 ASPAN 1, /12/2015 8/30/2015 Beacon House 1, /12/2015 9/6/2015 Offender Aid & Restoration 1, /26/2015 9/13 & 9/20/15 Legal Aid Justice Center 4, /3/2015 9/27/2015 VACOLAO 1, /5/ /4/2015 AFAC 3, /24/ /11/2015 ASPAN 1, /24/ /11/15-Install UUA Living Tradition Fund 2, /24/ /11/15-Install Meadville Lomard Theological School 2, /30/ /18/2015 ALIVE! 1, /3/ /25/2015 UUSC-Refugee Relief Fund 3, ,

17 ATTACHMENT 2 17

18 Report to: From: Date: UUCA Board of Trustees UUCA Treasurer November 17, 2015 Board Meeting Linkage There are several important Committees and activities in the Church that involve financial matters, among and between which it is important to maintain coordination and communication. It is one of the responsibilities of the Treasurer to work with others in the church to facilitation such coordination and communication. I have accordingly been in communication with Allen Kieswetter, following his initial contact, to establish a link between the Strategic Planning Committee and the Finance Committee. Allen made a presentation on the work of the SPC at the Nov. 12 meeting of the FC and requested input from the FC on goals, indicators and metrics in the financial area. I also attended the Nov. 10 meeting of the annual campaign committee, which requested input from the FC on several top-line budget priorities for the church for potential use in the upcoming annual campaign. The FC will respond to these two requests in a timely fashion. Bill Fogarty also briefed the FC on plans to wind up the Capital Campaign and plans for initiating discussions with banks on refinancing the church mortgage and construction loans. Finance Committee The Finance Committee and its Investment Committee subsidiary are effectively a group of volunteer staff. They are not policy-making committees but operate to advise and assist the Executive in matters related to church finances. The FC is temporarily being convened by the church bookkeeper and chaired by the Treasurer. More specific working relationships between the FC and the church staff will be established by the new COO. Status of Loan from UUCA Endowment Fund to OpenDoor Housing Fund Gene Mulligan requested and received a copy of the most recent financial statement from the OpenDoor Housing Fund, from which the Endowment Fund holds notes receivable with a face value of $41,500. ODHF is in the process of liquidation, has closed its office and is operating without paid staff. It has promised that approximately 30% of the principal face value of these notes plus any interest that was due as of June 30, 2015 will be paid by mid-december of this year, with subsequent disbursements to be made as funds become available to ODHF through future repayments of outstanding loans by current borrowers. The ODHF statements are dated June 30, 2014, and are complex and difficult to assess from the perspective of estimating any payments the church might expect in addition to the 30% promised repayment next month. We will attempt to further assess the status of the notes following receipt of that promised repayment. Endowment Fund balance in Fiscal Year Beginning 7/1/

19 The assets of the Endowment Fund were listed in the UUCA balance sheet as $991,797 for July, $952,547 for August and $922,585 for September, and $963,317 for October, reflecting the impact of the stock market volatility during the fiscal year to date on the Fund s portfolio of investments. Peter Vitaliano Treasurer, UUCA 19