Also present: Joan DeCelles; Canon Elizabeth Fornal;
The Rev. Canon Linda Grenz; Ronald Turnbull.
Present for discussion of Sts. Matthew & Mark,
Barrington: Dennis Hogan, SW.
The meeting was called to order at 10:00 am by Chair Lofaro.
Canon Grenz offered an opening prayer.
The Minutes of the meeting of September 10, 2013
were approved as distributed.
The Treasurer’s Report of September 30 is about
as anticipated. The largest variation is ECC which is still reconciling its
summer activity accounting.
Apportionment Payments Report. Compared to this time
a year ago with 21 months in arrears, there are now 33 months of arrears with
eight churches 2 or more months behind.
#
|
Months in Arr
|
Parish / Location
|
Comments
|
|
2012
|
2013
|
|||
11
|
2
|
2
|
St. George’s, Central Falls
|
|
19
|
3
|
4
|
St. David’s, Cranston
|
Considering future
|
36
|
0
|
4
|
St. Matthew’s, Jamestown
|
|
43
|
2
|
4
|
St. Columba’s, Middletown
|
Rector recently called
|
66
|
2
|
6
|
All Saints, Providence
|
Interim
|
76
|
1
|
2
|
STs Peter & Andrew, Providenc
|
|
89
|
0
|
2
|
St. Mark’s, Warwick
|
|
94
|
1
|
3
|
St. James, Woonsocket
|
|
Particular attention will be given the churches four or more
months behind. COF members and staff were assigned to make follow up calls.
Old Business. Loan terms and conditions.
Mr. Sloan reported he is working with a resource person with commercial loan
experience, reviewing our current practices. He expects to have a report next
month on suggested changes in the Revolving Loan process.
Discussion continued on how best to describe the interest
rate in minutes when actions are taken, It was agreed to continue to use the
language, prime rate minus 1% with the actual rate determined on the date the
contract is signed.
New Business. Sts. Matthew & Mark, Barrington.
Dennis Hogan, SW joined the meeting. Mr. Hogan provided financial data for
2011, 12, 13 and a draft budget for 2014. A number of changes resulting from
the merger and staffing adjustments have lead to an especially high projected
2014 apportionment at the same time hiring a full time Rector is anticipated.
The result is an out of balance budget due to unusual circumstances. This was
discussed at length, It was agreed to recalculate the 2014 apportionment at
$19,200 as a transition solution.
Old Business, continued. Balance Sheet was
distributed. This a new document for the COF. Following review and discussion
several questions were raised. None of these were resolved and it was agreed to
address each at the staff level with suggested resolutions to be considered at
future COF meetings.
New Business, continued. Mr. Burton raised the
question, would it be appropriate for the COF to consider establishing goals
for the upcoming year? Are there two or three initiatives that we could agree
are worth priority attention. Several ideas were suggested. This will be
considered further at the next COF meeting.
Respectfully submitted
Edwin F Hallenbeck
Secretary
Next meeting: November 12, 2013 at 10:00 am.
