Church of the
Annunciation

7580 Clinton Street
Elma, New York 14059

716.683.5254

Finance Committee

ANNUNCIATION CHURCH ELMA, NY

Finance Committee

Meeting Minutes –September 27, 2017

 

Attendance:

Present

Larry Zielinski, Henry Koziol, Shaun Beckwith, Terry Rupp, Deacon Jim Jaworski, Robert Ziolkowski, Kris DiScipio, Joseph Widmer, Fr. Gene Ulrich, Guest: Bill Swierat

Absent

none

 

 

 

 

 

 

  1. Minutes Approved of August 23, 2017 Meeting

 

  1. Introduction of New Members
    • Henry Koziol, Shaun Beckwith, and Terry Rupp were welcomed to the Finance Committee, beginning their three year terms.

 

  1. Picnic Committee Report—Bill Swierat
    • Bill Swierat reported that the 2017 Picnic totaled $133,852 in total receipts, with a net gain of $75,484.  
    • The budgeted net gain was $37,000.
    • Included in the totals are $26,485 in restricted donations.
    • Prior year total receipts were $115,268, with a net of $58,524.
    • We anticipate moving the event to our new pavilion next year.

 

  1. Audit Committee Report—Bill Swierat
    • Bill reviewed the purpose, history and current make-up of the Audit Committee for the new members.
    • With the parish bookkeeper retiring in December, office controls and processes have been reviewed.

 

  1. August 2017 and Year-End Financials—Bob Ziolkowski
    • Church net revenue totaled $121,482 in August, compared to a budget of $102,755.
    • Church net revenue totaled $942,445 for the year, compared to a budget of $840,865.
    • Church expenses: August $97,352 vs. $70,623 planned, YTD $710,667 actual vs. $696,890 plan.
    • Expenses were over budget due to approved emergency capital expenditures for the Selbert Hall Roof and A/C, and the rectory windows—a combined total of $30,092.
    • Church Operations Cash Contribution totaled $24,130 (August) vs. $32,132 (plan), and $231,778 (YTD) vs. $143,975 (plan).
    • An $8,000 capital expenditure for the Early Learning Center was approved in July, resulting in an unfavorable August contribution of $10,313.
      • ELC enrollment for the 2017-18 school year stands at 38 (20 three-year olds and 18 four-year olds).
    • Net Cash Flow for the total Parish: $(14,380) August vs. $1,087 (plan); and $115,658 YTD vs. (44,322) plan, or a positive variance of $159,980
    • Primary reasons for the positive performance were above-budget regular receipts, positive contributions from the Church societies, our first Upon This Rock payment, and past reimbursement for School activities from government sources.

 

  1. Capital Update - Deacon Jim Jaworski
  • We are holding over 2016-17 capital for the rectory windows ($4,900 for work not yet completed), and for the new freezer ($5,600 for technical problems).
  • The Committee approved proceeding with the new rectory furnace ($10,000 budgeted), scheduled for November.
  • We are delaying the new roof on the sacristy ($30,000 budgeted) until the Spring.

 

  1. Diocesan Assessment—Deacon Jim Jaworski
    • The current year assessment includes the Diocese’s estimate of $127,000 in extraordinary donations being included as regular receipts.  We are contesting this decision and will hold our assessment payments until the matter is rectified to our satisfaction.  Jim is speaking to Diocesan Finance Officer, Steve Timmell.
    • The Diocese has clarified their treatment of non-assessable donations, and the policy was reviewed with the Committee.  An explanatory letter is being distributed to parishioners who contributed extraordinary items in the recent past.

 

  1. Master Plan Update—Deacon Jim Jaworski
    • Our architect is scheduling a meeting with the Elma Planning Board to answer the questions raised at our meeting with them in August.
    • Anticipating the resolution of outstanding issues and approval by the Board to proceed, we will issue our first bid on the new pavilion/storage garage in December, award the bid in January, and break ground in April.

 

  1. Lay Pension—Deacon Jim Jaworski and Father Gene
    • We are still waiting for a recalculation of the amount due as a result of the Diocesan buyout offer.
    • Our outstanding issues (non-school employees included in the list, present value calculation of the buyout) have not been clarified.

 

  1. 2017-18 Committee Meeting Schedule
    • The Committee will meet on these dates in the coming fiscal year:
      • Wednesday, October 25
      • Wednesday, November 22
      • Wednesday, January 24
      • Tuesday, February 20
      • Tuesday, March 20
      • Tuesday, April 24
      • Wednesday, May 23
      • Wednesday, June 27
      • Wednesday, July 25
      • Wednesday, August 22

 

Next meeting:  October 25, 2017@ 7:00 pm in the Parish Center

Respectfully submitted by Larry Zielinski

 
 

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