Attendees: Mother Leslie, Dan Botticello, Janet Hansen, Greg Hume, Tad McCall Karen Ruff, Mick Sutter, Alice Thomas, Laura West; Absent: Molly French
Mick prayed open the meeting at 7:33 pm, selecting from the Episcopal Book of Common Prayer.
- Vestry approved the minutes from the October meeting.
- Vestry approved the October Treasurer’s Report.
- Vestry approved the Rector’s Housing Allowance for 2015.
- Vestry approved the nomination of Vicki Barnett to join the Trustees of the General Fund for the five-year term beginning in 2015 as Janet Hansen’s term expires.
Minutes and Treasurer’s Report: The 2014 budget predicted an overall deficit for JAN-OCT. That came true this month as annual operating expenses exceeded annual income by $1,037. Although actual expenses for the ten-month period ran only 96% of the budget, the 1% decrease in projected ten-month income pushed the net into the red. The allocation of money in the various “savings” accounts was questioned: The STAMP fund (#1532, designed to hold principal value secure in the shorter-term) ought to permit sufficient withdrawal for three months of operations. At $40,363, it does not. It was suggested that reallocation be made using funds from the General Fund (#1531, with longer-term maturities). Both the Treasurer’s Report and the Minutes were accepted as final at 7:45 pm.
Finance Committee Report: All operating funds except $22 are now in the account at TD Bank. The residual at United Bank supports the process of closing that account. The committee proposed two new “special needs” accounts: for the Elevator Maintenance and the Stained Glass Maintenance.
St. Michael’s designates a portion of the Rector’s annual compensation as an allowance for housing; this allowance is tax-free. The Vestry’s annual agenda includes this task at the end of the year to apply for the following year. The amount of $5,000 was agreed upon (same amount as in years past), and the Housing Resolution accordingly was approved for 2015.
Despite the limited-returns on the Stewardship Campaign (see below), the Finance Committee shared a preliminary 2015 operating budget. The line-items that were modified based on actual operation in 2014 were: #5230 property insurance increased to include Workman’s Comp policy; #5270 Routine Maintenance decreased to $4,000; #5320 General Office Expense increased from software lease increases; #5410 Church School decreased by the amount added to #5430 Vacation Bible School; #5550 Diocesan Council Meetings reflected increase cost for travel to Richmond rather than Reston. Modifications proposed for other reasons are additional $3,500 for Maintenance on the elevator, 1.873% increase recommended by the Diocese for cost-of-living, funding the Supply Clergy account with $500.
Other operating funds discussed were for: Major Maintenance, a Seminary student during the summer of 2015, and Music Director (compensation now below standard). Two areas in 2014 supporting easier decisions are Comcast’s bill (more predictable than Verizon’s), and stamps-dot-com as less expensive than Pitney-Bowes.
Other Financial Issue: A five person Board administers the St. Michael’s General Fund for longer-term investments. Janet Hansen’s term ends in 2015. It was proposed and accepted that Vicki Barnett be elected to the five-year term ending in 2020. She will join Tim Matlack (2016), Elizabeth Keys (2017), Barb Adams (2018), and Dean Scribner (2019). Janet recommended that the Vestry adhere to annual rotation of Board members as their term expires. She noted that the Board has been reviewing its payout policies and may in the next year want to recommend to the Vestry that some changes be made to the Board’s Charter relating to these policies.
Capital Campaign Moving Forward in Faith: Cash-on-hand in this fund is about a third of the total $336,000 pledged. The final contract including cost for work at the Rectory is in process and will be less than estimated by the original committee. However, completion of all projects within the Parish likely would cost more than the funds available. The Vestry discussed several paths to accomplish all the “must do” as well as many of the “nice to have” projects.
Stewardship Campaign: Pledges received by the Finance Committee as of NOV 11th were 73% of the base operating budget. A parish-wide reminder plus individual contact will be made.
Vestry Liaison Reports: These were curtailed because of an extended Executive Session. Molly had provided a written report: Welcoming Committee “can Always use new members;” Sunday school is going well; Jr/Sr high class has met three times and is scheduled for the 1st and 2nd Sundays of each month given Kevin Laskowski’s availability; Karen Ruff will begin in December to teach elementary-student class a few times per month; Christmas Carol Sing-Along will be Saturday DEC 13th 2-4 pm; rehearsal of the Christmas Eve pageant will be on Sunday DEC 14th.
Rector’s Report: St. Michael’s may be selected by a VTS second-year student as the site for her internship. The standard stipend is $1,500 from the Parish, matched by the Diocese. If we are selected, we will investigate a scholarship in lieu of our total contribution. The timing of the Christmas Eve services (traditionally 5:30 and 10:30) may be changed. For Thanksgiving, Leslie will be on holiday from Wednesday afternoon through Saturday. Other information is included throughout this report, and in 50 minute Executive Session.
Senior Warden’s Report: Incorporated throughout.
Junior Warden’s Report: The pilot light on the heating unit supporting the Nave does not stay lit. One estimate to replace the entire HVAC unit was over $12,000. It was agreed to procure at least one more bid. Funds for this imperative repair might be extractable from profits from the Harvest Festival, the remains of the Major Maintenance account, and again the Memorial Fund (excluding those gifts designated for a specific area). Shawn’s Lawn Service cleaned the Parish lawn of leaves once, and will do so a second time. The steps leading behind the altar in the Memorial Garden are a trip-hazard, and need renewal of the neon-colored tape eye-catchers.
No new business was introduced. Tad volunteered to lead prayers at the December 16th Vestry meeting. The meeting adjourned at 10:05 pm. Mick led us in Compline using the form in our Book of Common Prayer.
Alice Thomas, Register