Minutes — October 11, 2016

Diocese of Rhode Island

Commission on Finance

Meeting, October 11, 2016

St. Luke’s Church, East Greenwich

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

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

Guests: The Rev. Peter Tierney, Chair, Committee on Program and Budget.

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

The Minutes of the meeting of September 13, 2016 were approved as distributed.

Finance Report for September was reviewed by Mr. Batchelor. There were no significant changes and no unpaid bills. Revenues are at or near budget. Expenses in some categories are over or under by small amounts. Unbudgeted administrative expenses are up due to a broken boiler in February and technology update costs.

Apportionment Aging Report. Four churches are two months behind. St. Thomas, Greenville is three months behind and St. George’s, Central Falls is six months behind and uncertain, it will be reviewed with care in December as new leadership reviews the situation.

Budget for 2017. Fr. Tierney reviewed the draft budget for 2017 noting there are minor update changes. The primary significant changes are:

• Jonathan Daniels House program has been discontinued.

• Development Office new Director and Assistant will staff Charities, ECC and other fund raising support.

• Communications changes from a single staff to a team, with modest savings.

• ECC will add adult summer staff and property upgrades.

• Hispanic Ministry is reorganized due to retirements with fulltime priest at St. George’s who will devote ¼ time to developing a Training program with W Mass for Hispanic leadership.

The new Forecasting tool was used to assist in preparing the budget. The budget includes a proposed Apportionment change of -1/2% to 16½  for 2017 following the Episcopal Church General Convention reduction. It was noted that Diocesan Council approved this change at its October meeting along with a request to plan a further drop in future years. All churches will be notified of the change following Convention. Following discussion, it was Moved, Seconded and Voted to recommend the 2017 Budget to Council after additional reclassifications are made.

Church of the Redeemer Fire Safety Code grant request has submitted a firm number for installation. Following discussion ot was Moved, Seconded and Voted to allocate $9,350 to Church of the Redeemer and reserve $650 for additional costs to fully complete the installation.

Grace Church, Providence. Following the meeting in September with Grace Church representatives a number of follow up conversations have taken place and Canon Grenz has been invited to meet with the Vestry. In view of the evolving discussion it was agreed to defer further discussion of the Grace Church request to the November COF meeting.

CFO Report:

• A verbal request was received from Church of the Ascension, Cranston stating they want to house a refugee family in the attached Rectory, could they apply for a Fire Code grant to upgrade the facility. It was noted there is a small amount remaining in the fund. It was suggested that they get specific costs and the CFO and Bishop will assist in looking for sources.

• Update on Forecast Project. A worksheet was distributed summarizing relationships of Forecast to Budget in key areas. This data is proving helpful and was used in preparing the 2017 budget.

• DIT monitoring is initiated and a first worksheet was distributed showing November 2015 to May 2016.

• Church of the Advent, Coventry had to upgrade its Fire Alarm system and its stairway with an estimated cost of $6,000. The building also needs painting and other items. It was agreed the Church activities and needs should be fully reviewed in the winter-spring.

• ECC dishwasher broke and had to be replaced at a cost of $2,500.

• Emmanuel Church, Newport request for a bridge loan is on hold for further legal concerns and detailed costs. The request is deferred pending further information.

The meeting was adjourned at 6:25 p.m.

Respectfully submitted

Edwin F. Hallenbeck

Secretary

Next Meeting: November 8, 2016