Diocese of Rhode Island
Commission on Finance
Meeting, July 12, 2011
Higgins Room
Present: Robert Batchelor; Brian Ehlers; The Rev. Dcn. Edwin Hallenbeck; Scott Nicholson; The Rev. John Pallard; The Rt. Rev. Geralyn Wolf.
Also present: Canon Ty Creason; Canon Betsy Fornal; Ronald Turnbull.
The meeting was called to order at 10:05 am by Chair Nicholson. Opening prayer was offered by Bishop Wolf.
The Minutes of the meeting of June 14, 2011 were approved as distributed.
Treasurer’s Report for June was distributed by Mr. Batchelor, noting that most lines are pretty much on budget, with the exception of Title IV legal expenses, which were not budgeted for in 2011. Also distributed in the same format as the Treasurer’s report was the 2010 Audited Summary Report, which will be posted on the Diocesan website.
Apportionment Report. Apportionment payments continue to be received in a more timely manner than recent years, with 24 months arrearage compared to 48 months at this time last year. Churches 2 or more month behind are listed below:
| # | Months in Arr | Parish / Location | Comments | |
| 2010 | 2011 | |||
| 6 | Spec | Spec | St. Michael’s, Bristol | $11,970. Negotiation in process |
| 19 | 3 | 2 | St. David’s, Cranston | Interim-Self study |
| 38 | 0 | 4 | Christ Church, Lincoln | Interim |
| 78 | 6 | 2 | St. Mark’s, Riverside | Considering merger |
| 83 | 1 | 3 | Ascension, Wakefield | |
| 93 | 3 | 3 | Christ Church, Westerly | Interim |
It was suggested the improved payment pattern has been helped as some churches have merged or closed.
Old Business.
• St. Michael’s Bristol. The Treasurer reviewed recent correspondence with the parish Treasurer. St. Michael’s has agreed to pay the arrearage due over 15 months beginning in July 2011. The matter appears to be resolved.
• Insurance Retention Fund. The Treasurer reviewed recent action by Council at its June meeting allocating funds to support the Bishop Search Process with up to $140,000. from the Insurance Retention Fund. This is in addition to amounts in the 2011 and 2012 Budget. An amount slightly in excess of $40,000 remains in the IRF to be dealt with at a later date. There was a brief discussion of the prospect of receiving gifts for the Search process, noting the set budget would remain as adopted.
• St. John’s, Newport. Following the conversation at the June COF meeting a plan is being developed and should be available at the next COF meeting.
• St. Luke’s, Pawtucket and St. John’s, Ashton. Several issues relating to the merger are being worked out including: a) St. John’s revolving loan outstanding balance of $51,888 with no recent payments. It is stated this will be resolved shortly. b) The churches have different insurance carriers now needing to be resolved. c) Appraisals of the St. John property are being undertaken in preparation for sale.
• St. James, Woonsocket. The Treasurer reported a question raised regarding the action at the June COF meeting regarding unemployment insurance costs. Following discussion it was agreed the apportionment reduction agreed upon applies to 2011 year only.
• St. Anne’s, Block Island. The Treasurer and Chancellor visited the Island on the day of the proposed house purchase inspection. Several unique situations were encountered during the inspection involving structural and foundation matters. The result is we withdrew from the proposed purchase.
• St. Mark’s, Warren. Mr. Creason distributed a May 24, 2011 Best Use Analysis and Appraisal for the Church and Parish House. This was viewed as a more balanced statement than previous data. Following discussion it was Moved, Seconded and Voted to place the Church and Parish House of St. Mark’s, Warren on the market for sale.
New Business.
• Parochial Report Review Committee. Mr. Turnbull noted that the Committee has lost two members recently and is in need of at least one clergy and one lay new member in order to function. He asked for suggestions. Experience in church finance is essential.
• Budget for 2012. The Treasurer reported the 2012 Proposed Budget as adopted by the Committee on Program and Budget for consideration by COF and transmittal to Council. These was considerable discussion regarding a number of details. It was Moved, Seconded and VOTED to approve the 2012 Budget as presented and forward it to Council for their consideration. Changes following budget hearings may require further review. The budget bottom line is:
Apportionment Funded $1,898,437.
Expected Apportionment $1,900,000. Apportionment @ 17%
Net Gain (or Loss) $1,563.
• Diocesan Resource Fund. Mr. Creason reviewed the history and status of this fund, suggesting that its several sources are quite different and not adequately reflected in the current application of the funds. He stated he will prepare a working paper for COF to consider the matter further with a view to possible changes in the policy governing the use of these funds.
The meeting was adjourned at 11:15 am.
Respectfully submitted
Edwin F Hallenbeck, Secretary
Next meeting: September 13, 2011
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