Minutes — December 13, 2016

Diocese of Rhode Island

Commission on Finance

Meeting, December 13, 2016

St. Luke’s Church, East Greenwich

Present:  Robert Batchelor; Sarosh Fenn; The Rev. Erik Larsen; Michael Lofaro; Stefan Sloan; David Terry; The Rev. Peter Tierney (by phone).

Also present: Joan DeCelles; The Rev. Canon Linda Grenz; The Rev. Edwin Hallenbeck (arrived late).

The meeting was called to order at 5:00 p.m. by Chair Lofaro. An opening prayer was offered by Canon Grenz.

New members Fr. Larsen (elected) and Fr. Tierney (appointed) were welcomed. Mr. Lofaro was reelected as Chair, and Deacon Hallenbeck was reappointed as Secretary. Stephan Sloan agreed to represent COF on Diocesan Council on an interim basis.

The Minutes of the meeting of October 11, 2016 were approved as distributed.

Finance Report for November 2016 was reviewed by Mr, Batchelor.

Apportionment Aging Report. The only Church significantly behind is St. George’s Church, Central Falls. The new leadership is still in the process of sorting out the churches financial situation and it is unlikely it can continue payments at this time, Following an extended discussion of St. George’s situation it was Moved, Seconded and VOTED to Recommend to Diocesan Council that the remaining Apportionment due for 2016 be reduced by $9,718.97. It is understood this is a one time only action.

St. James Church, Woonsocket was discussed at length as continued from September, 2016 agenda. Two matters were identified as needing attention. First is a grant of $24,000 made to St. James for outreach ministry that was misclassified as ordinary income in the Parochial Report resulting in an overpayment of $4,080 in apportionment. Following careful review it was Moved, Seconded and VOTED that the 2016 Apportionment due from St. James Church be reduced by $4,080 representing an overpayment resulting from a misstatement of apportionable income. Note: Fr. Tierney left the meeting prior to the vote. Second is more complicated analysis of the Restart process at St. James which is unclear at this time, but needs further consideration. The COF Requests that a written statement of the St. James financial situation be prepared including: Balance Sheet; Income statement for 2015; Budget, Income and Expense statement for 2016; Budget for 2017; Copy of Endowment statements for 12/31/2015 and 11/30/2016; and a Business plan for future operations.

CFO Report. Canon Grenz reported for Mr. Burton.

• A Task Force is gathering pledge income data by decade of age for all parishes.

• Detailed property planning for all Diocesan owned property is underway. It is noted that all Mission church property is part of the Diocese property much of which is inaccurately stated.

Grace Church follow up. There was a lengthy discussion regarding a number of follow up meetings and conversations after the Grace Church meeting with the COF in September. There are no conclusions at this time and discussions continue. The COF will clarify the national church interpretation of what is defined as outreach.

Jonathan Daniels House Deficit. When the Jonathan Daniels House program was closed in the summer there remained a total of $25,282.44 in expenses beyond available funds. This was primarily due to internship placement locations being unable to reimburse intern costs. These funds are not recoverable. Following discussion it was Moved, Seconded and VOTED to pay the Jonathon Daniels House remaining balance out of the Diocese Resource Fund.

The meeting was adjourned at 6:40 p.m.

Respectfully submitted

Edwin F Hallenbeck

Secretary, with assistance from Linda Grenz

Next Meeting: January 10, 2017 at 5:00 p.m.