Meeting — November 10, 2015

Diocese of Rhode Island

Commission on Finance

Meeting, November 10, 2015

Higgins Room

Present:  Robert Batchelor; The Rt. Rev. Nicholas Knisely; The Rev. Eric Larsen; Michael Lofaro; Stephan Sloan; David Terry.

Also present:  Dennis Burton; Joan DeCelles; The Rev. Canon Linda Grenz; The Rev. Edwin Hallenbeck.

Guests: St. Mary’s, East Providence: The Rev. Alvin Marchetti, Priest in Charge; Mike Boyce, JW.

The meeting was called to order at 10:00 a.m. by Bishop Knisely, who offered an opening prayer.

The Bishop welcomed David Terry, recently elected at Convention, as a new member of the Commission. The Bishop appointed Michael Lofaro as Chair of the Commission until next Convention. Mr. Lofaro assumed the Chair.

The Chair thanked Robert Bergstrand for his two terms on the COF ending at Convention, and for his many contributions to the work of the Commission, especially his concerns over new Fire Code impact on our churches and for his service representing COF on Diocesan Council.

• Election of Secretary and Representative to Diocesan Council. Following discussion it was Moved, Seconded and Voted that The Rev. Edwin Hallenbeck be Secretary of the Commission, and further that he serve as Commission on Finance representative on Diocesan Council for the next year.

The Minutes of the meeting of October 13, 2015 were approved as distributed.

Finance Report for October 2015 was reviewed by Mr, Batchelor. Several accounts that appear to be at variance were noted, with expectation that by year end most should be at planned points with a near balanced budget. Charities gift receipts are held as cash anticipating grant payouts by the end of the month.

Apportionment Report. Two churches are significantly in arrears, St. David’s, Cranston and St. Thomas, Greenville. St David’s recently paid three months of arrears.

Major Gifts Policy. Deferred to the December meeting.

Mudrak Fund Grant. A request from St. Andrew’s by the Sea, for a grant to provide a hearing loop system in aid of persons with hearing aids at a cost of $3,325.41. Following a brief discussion it was Moved, Seconded and Voted to allocate a grant of $3,325.41 from the Mudrak fund to St. Andrew’s by the Sea, Little Compton to improve their sound system in aid of hearing impaired.

Accessibility and Safety Grant. A request from St. Ann’s by the Sea, for a grant of 50% of the cost of installing a replacement meter socket and a water filtration system to provide potable water in the church at a cost of $7,372.44, half being $3,686.22. Both of these were required in recent building inspections. Following discussion it was Moved, Seconded and Voted to allocate a grant of $3,686.22 from the Resource Fund to St. Ann’s by the Sea, Block Island as one half the cost of a replacement meter socket and a required water filtration system.  One vote abstention.

St. Mary’s, East Providence, Guests, noted above, joined the meeting. Two requests were presented for consideration. #1, A Revolving Loan of $50,000 for several upgrade and improvement projects including; interior and exterior painting for church and rectory; refurbishing Parish Hall; Kitchen improvements; hallway lighting; painting and lighting in sanctuary, choir room and sacristy, flooring in Vicar’s office. Detailed cost bids available for all projects. #2, A Code Violation Grant request was submitted for providing handicap access to the Parish Hall by either installation of a lift or construction of an approved ramp, the lift being a significantly higher cost. There was a lingthy discussion of alternative solutions with the following actions:

It was Moved, Seconded and Voted to approve, subject to concurrent approval by the Standing Committee, a Revolving Loan of up to $50,000 to St. Mary’s, East Providence for parish improvements for five years at a net rate of 1 ½% with DIT funds pledged as guarantee.

It was Moved, Seconded and Voted to allocate a grant of Code Violation Funds to St. Mary’s, East Providence of up to $10,000 pending a final decision of lift or ramp solution.

Mr. Burton as Chief Financial Officer will give final approval to both projects depending on actual costs.

Funds Transfer to Center for Reconciliation(CFR). Mr. Batchelor reviewed the recent history of gifts made for the purpose of considering the future of the Cathedral and other facilities in the block area. When the first study was completed funds remaining were returned to donors or held for future work. The CFR is now the continuation of this work and it is appropriate to move the balance of funds to the CFR. This is a combination of donor unused funds and gifts made to the Diocese for the CFR project. Following discussion it was Moved, Seconded and Voted to transfer $19,801 currently held by the Diocese to the Center for Reconciliation for use in current projects. There were two abstentions.

Additional items:

• Mr Burton reported that the Planguru forecasting program has been leased and initial testing begun. It is hoped that initial broad based work can begin in January using 2016 data in planning for 2017.

• COF meeting time. In order to include members who are unavailable during the work day, there was a lengthy discussion of alternative times, primarily; #1. Early a.m. #2. 5:30 to 7:30 p.m. #3. 7:00 to 9:00 p.m. It was agreed there are positives and negatives to each of these. It was agreed to schedule the December and January meetings at 7:30 a.m. Reconsider the schedule in January. The Bishop reminded the COF that technology is available in this room for Skype image interchange from away participants as well as conference call participation.

The meeting was adjourned at 11:45 a.m.

Respectfully submitted

Edwin F. Hallenbeck

Secretary

Next meeting:  December 8, 2015  7:30 a.m.