Church of the
Annunciation

7580 Clinton Street
Elma, New York 14059

716.683.5254

Finance Committee

ANNUNCIATION CHURCH ELMA, NY

Finance Committee

Meeting Minutes – 

July 26, 2017

 

Attendance:

Present

Larry Zielinski, David Walsh, Jack Bergmann, Mike Skrip, Deacon Jim Jaworski, Robert Ziolkowski, Kris DiScipio, Joseph Widmer, Fr. Gene Ulrich, Deborah Keenan

Absent

none

 

 

I   Minutes Approved of June 28, 2017 Meeting

  • Motion by David Walsh
  • Seconded by Jack Bergmann
  • Minutes approved 

 

 

II   Adult Ministry Plans/Budget FY 2017/2018 – Deborah Keenan

  • Programs and events for FY 2016/2017 reviewed
  • Planned Budget for FY 2017/2018 includes expenses totaling $35,358 with anticipated revenues of $9,840, resulting in an anticipated parish investment of $25,518
  • “Ministry Scheduler” is being explored to provide digital configuration of schedule for Eucharistic Ministers, Lectors, Altar Servers, etc.
  • Parishioner Education Advancement Programs will be evaluated for sending parishioners to workshops and Christ the King Seminary courses
  • Deborah Keenan presented costs/information provided by “Formed” as a parish resource for all parishioners. This is an online platform (formed.org) that allows 24/7 access to Catholic content on any device (computer, smartphone, tablet). Numerous topics and presenters render information on our Catholic faith. Examples include, but are not limited to, bible study, marriage, etc.

 

 

III June 2017 Financials – Robert Ziolkowski

  • Parishioner receipt revenue $57,733; total church net revenue $60,725 v. $60,161 plan
  • Net Parish expenses $137,171
  • Net cash flow (-)$76,446 v. planned (-)$3,036  (includes Interest/Investment income)
  • YTD FY 2016/2017 net cash flow $64,005
  • YTD 2016/2017 parishioner receipt revenue $668,510 v. YTD 2015/2016 $690,838
  • Investment/Income value increased by $2,046
  • Master Plan Building Fund balance is $482,920
  • Lay Pension Expense was unfavorable to plan by (-)$78,334 due to payment to the Diocese of Buffalo of $80,592 for attempted remediation of the Annunciation School unfunded pension liability
  • $6,000 was paid toward ongoing architectural expenses associated with the Church of the Annunciation Parish Master Plan

 

IV Fiscal Year 2016/2017 Capital Spending - Deacon Jim Jaworski

  • Strong Start Pre-K Program requested materials for instruction totaling $7,089. The items included computers, laminator, “STEM” materials, and educational manipulatives
  • Following discussion, Robert Ziolkowski motioned to approve financing the request. Jack Bergmann  seconded the motion. Motion was passed.

 

 

V   Church of the Annunciation Parish Master Plan Update - Deacon Jim Jaworski

  • K-Arc Design submitted the architectural site plan and drawings to the Town of Elma for review by the Zoning Board and Planning Board for their meetings in August 2017

 

VI   FY 2017/2018 Annunciation Parish Budget – Robert Ziolkowski, Dave Walsh

  • Initial draft review by committee members
  • Impact of Parish Master Plan spending was incorporated into budget formulation
  • Impact of updated Diocese of Buffalo assessments (including educational assessment) was included in budget formulation 
  • “Upon This Rock” revenue has been incorporated into budget revenues
  • Final FY 2017/2018 budget will be formulated and reviewed at August 2017 Finance Committee meeting

 

VII  Church of the Annunciation Salary and Performance Review Policy - Dave Walsh

  • Finance Committee discussed current policy
  • Discussed Diocese of Buffalo and Catholic Church of America Salary Range Guidelines/Considerations for parish job classification levels
  • Discussed concepts of salary adjustments based on “market adjustment rates” and “merit compensation”
  • The financial impact of possible payroll policies and adjustments was reviewed
  • Salary and Performance Review Policy was approved as written by the Finance Committee and will go into effect on 9/1/2017.

 

Next meeting: August 23, 2017 @ 7:00 pm Parish Center

 

Respectfully submitted by Mike Skrip

 

 

Stewardship

Stewardship is having the wisdom to understand that everything we have is a gift from God.

View details »

 

 

Bulletins

Download our weekly bulletins NOW!

 

Download Bulletins »

 

Online Giving

Securely with WeShare


Make A Donation »