Meeting — May 3, 2018

Diocese of Rhode Island

Commission on Finance

Meeting, May 3, 2018

St. Luke’s Church, East Greenwich

Present: Robert Batchelor; The Rev. Erik Larsen; James Segovis; The Rev. Peter Tierney. Also present: Dennis Burton; The Rev. Canon Linda Grenz; The Rev. Edwin Hallenbeck. Guest: John Candon;
The meeting was called to order at 5:10 p.m. by Chair Tierney, who offered an opening prayer.
Minutes of March 1, 2018 were approved as amended, the Minutes of April 5, 2018 were approved as distributed.
Finance Report for April was reviewed by Mr. Batchelor. At this point early in the year finances are close to budget planning, Some accounts that run unevenly throughout the year, such as ECC low activity in the winter are at variance.
Apportionment Aging. There are two churches significantly behind, others routinely paying, some a month or two behind. The two that are behind were discussed at length.
* Sts. Peter and Andrew. This is a very complex situation needing careful review in 2018. We are already paying utility costs for three buildings that have been condemned and are in the process of being sold, this matter must be completed. The Rectory needs major updates and repairs, the Rector has retired and a new clergy team is beginning activity. It was agreed to track all closing costs to be paid from proceeds of the sale of buildings. Following a lengthy discussion it was agreed that a special working committee is needed to work with remaining parishioners, clergy, the community to consider issues, budget needs, possible courses of action. Messrs, Batchelor, Burton and Segovis agreed to work on this group which must be broader than COF. It was MOVED , SECONDED and VOTED to recommend to Diocesan Council that a special St’s Peter and Andrew Working Task Force be established to create and assist in developing the church so that it may become a viable presence in an otherwise unserved area. Persons to serve on this TF are noted above as well as The Rev. Susan Carpenter from Diocesan Council. It was further MOVED, SECONDED and VOTED that the proceeds of the sale of buildings at St’s Peter and Andrew, less closing costs to be determined, be placed in the DIT for application to be determinded at a later date.
* St. Georges, Central Falls. It is uncertain if the congregation will be able to regroup this year. The Diocese is subsidizing it and has for at least a decade. A key is lay enthusiasm and support, especially from other parishes. Our question is where do we put our energy and resources? This depends in part upon what works, noting that resources are limited, even while needs are great. This matter needs extended ongoing discussion. Attention needs to focus on defining what may work and how it may be fostered.
CFO Report, Mr. Burton.
• A Financials Variance Analysis Report was distributed, stating items not on budget. This early in the year this information will become useful for tracking emerging issues.

• Budget development for 2019. Mr. Burton is serving as temporary Chair of the Program and Budget Committee. He outlined the planned schedule for the year leading to Convention.
• ECC Solar Farm. National Grid has accepted the proposed line feed. Next are legal matters, court approval for land use, zoning and town approval and the negotiations with RER for contract arrangements. The Project Team with PR assistace are at work.
• Diocesan Investment Trust Board met recently and is working on revisions to the working trust agreement.
• Capital Budget Planning. Primarily focused on the Diocesan Campus a draft plan was submitted for discussion outlining in broad form needs for all buildings and detail for the Cathedral and Diocesan House – see handout. It was agreed this is a major project . The matter is referred to Diocesan Council with a suggestion to establish a special Task Force, with representatives from Council, COF, an architect and a contractor. The lingering issue is how to finance whatever is agreed upon as essential work.
• Grace Church. A meeting with the Wardens stated they will pay the remaining apportionment due with a Revolving Loan, formal terms to be arranged, with no DIT pledge. While an affirmative vote was taken, there were no documents application or final numbers available at the meeting.
• Grace Church Cemetery. Noting the concerns discussed in previous meetings it was suggested that consideration be given to pooling the cemetery funds available for all cemeteries to see if there are any options available.
• Mobile Station Land Sale, 389 Elmwood Ave, Providence is in legal negotiations with two outstanding issues, handicap access and parking.
• ECC Champlin Foudations Grant. A campership grant for $5,000 has been received initiating access to other funding. A request has been submitted for a Nursing Station and a new Boys Bathroom.

The meeting was adjourned at 7:15 p.m.
Respectfully submitted Edwin F Hallenbeck Secretary.
Next Meeting: June 7, 2018. 5:00p.m. 

Meeting — April 5, 2018

Diocese of Rhode Island

Commission on Finance

Meeting, April 5, 2018

St. Luke’s Church East Greenwich

Present: The Rt. Rev. Nicholas Knisely; Stephan Sloan; The Rev. Peter Tierney.

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

Guest: Richard Sellers, Consultant.

The meeting was called to order at 5:05 p.m. by Chair Tierney, who offered an opening prayer.

Note: There was not a quorum present, therefore this was an information session only with no votes taken.

The Minutes of The meeting of March 1, 2018 were received, but not voted upon.

ECC Solar Farm Analysis. Presentation and discussion by Dennis Burton and Richard Sellers based on the report “ECC Solar Project: Next Steps.” The report was prepared with the support and assistance of the Advisory Committee most of whom have extensive experience with solar project planning and operation. Key points are:

            • Frequent meetings of Solar Advisory Committee.

            • Legal issues identified and addressed.

            • Max size of 10 MW DC established.

            • Ten potential Partners interested, 6 bids solicited, shortlisted 4 companies, 2 finalists.

            • Extensive analysis of 2 finalists with expert assistance, data in report.

            • Recommend next steps: Negotiate MoU with RER by end of April, prepare alternative process in case negotiations fail.

The Report was received with interest and several matters were discussed at length. The same Report was made at Diocesan Council April 4, 2018 and was referred to Council Executive Committee for final approval with the understanding it would be reviewed by COF. Those present agreed with this process of decision. Mr. Sellers left the meeting.

COF Report. Mr. Burton:ce.

            • St. Peter and Andrew apartments. An analysis of three options was distributed, indicating the best choice is to sell the apartments to Gemma property Management. It was agreed this appears to be the best option. Dennis will follow up details. A business plan will be needed for St P&A church and plans for how best to prepare the Rectory for occupancy, see below.

            • Mobile station land sale, 389 Elmwood Ave, Providence is still in negotiation, with most concerns settled.

            • Grace Church, Providence. A meeting was held with the present and former Sr Wardens for updates. The Cemetery situation needs study, the Diocese is willing to receive a proposal for what might be done.

            • Edwards Homes. An audit is needed of the financial status of the Homes so the bookkeeping can be brought over to the Finance Office. Bookkeeping can be brought over to the Finance Office per agreement with Hallworth House to provide accounting and administrative services to the Edwards Homes. The accounts are presently part of the Hallworth House financial structure.

Finance Report of March 2018 was reviewed briefly by Ms. DeCelles stating there were no significant variations. It was noted that the Variations Report begun in 2017 was very useful and might be used again this year.

Apportionment Aging Report. Churches are up to date except for several that run a month late and the two that are expected to be problems throughout  the year.

St. Peter & Andrew Church, Providence. Canon Grenz reported that May 1^st has been established as the retirement date for the Rev. Joyce Penfield, Priest-in-charge. Canon Grenz has met with the Wardens to consider changes needed. They are revising the budget to consider funds needed for the church to function in 2018.

The meeting was adjourned at 6:20 p.m.

Respectfully submitted

Edwin Hallenbeck

Secretary

Next meeting: May 3, 2018. 5 p.m.

Meeting — March 1, 2018

Diocese of Rhode Island

Commission on Finance

Meeting, March 1, 2018

St Luke’s Church, East Greenwich

Present: Sarosh Fenn; The Rt. Rev. Nicholas Knisely; The Rev. Erik Larsen; James Segovis; The Rev. Peter Tierney.

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

The meeting was called to order at 5:00 p.m. by Chair Tierney, who offered an opening prayer.

The Minutes of the meeting of February 8 were approved as corrected.

Finance Report of February 28 was reviewed by Ms. DeCelles. Some accounts reflect timing matters, even though some adjustments in income and expense budget variations have been reflected. Several observations were noted, none of significance. The Report was received.

Apportionment Aging Report. Most churches are paid current except those that pay a month late or the three expected problem churches.

CFO Report. Mr. Burton:

• Solar Farm Project (ECC). Met with all applicants for project management and reviewed proposals in detail. Selected two as finalists, now doing a more detailed review with visits planned to existing sites. Hope to have a final selection by late March or early April. Legal concerns are under review. Met with Town of Glocester, some adjustments may be needed. Financial issues will need review at a near term CFO meeting.

• Mobil Station land, 389 Elmwood Ave. Providence sale, attorneys will meet soon to review language of the P&S agreement. Expected completion of sale in May.

• Annex Building, N. Main St. Hallworth House has vacated the site. Reviewing possible rental to a new tenant.

• Program and Budget Committee is meeting soon to review work schedule for 2018.

• ECC has submitted grant proposal to Champlin Foundations for camperships. If granted will establish eligibility for capital funding grant.

• Edwards Homes. Transfer of bookkeeping from Hallworth House to the Finance Office is in process and expected to be completed soon.

• Hydroponic Farm Project (ECC). The team has reviewed this project with great care and recommends suspending it until after the Solar Farm project is completed. This will allow for more bids and zoning approval management. It is anticipated it may be restarted in about a year.

Planning for Mission Churches.

This discussion was initiated by the St’s Peter & Andrew request for utility funds, and the approval of $5,000 per month for 6 months of funding by Council, with a request that COF work on a plan to address such issues. It was noted that St’s P&A is under new leadership and should be considered as a restart church situation. There are about 35 persons attending who may be the core of a restart. The immediate concern is what to do with the three houses that cannot be occupied at this time.  A developer has offered to purchase the three buildings for $205,000. It was suggested that this needs to be explored to consider other options. It was agreed to discuss this with the developer. Bob Bergstrand has been asked to oversee the Rectory remodel.

            Discussion continued looking at the Mission Churches as a group. There are three categories at present:

a)     Small churches, basically self-sufficient.

b)    Transitional Churches, previously Parishes, needing upgrades.

c)     Subsidized Churches, i.e. restarts with goal to become self-sustaining.

There are clear examples of each category. It was suggested we might be able to provide for up to two years for churches needing assistance. However, there is no strategic criteria for providing such assistance. In addition to St’s P&A, Church of the Beloved and Church of the Advent are the most uncertain at present. All three are in strategic locations with questionable viability. It was agreed to work further on both the issue and the three churches. This will remain in the COF agenda under Old Business. This discussion reviewed current circumstances and identified matters for further consideration. No decisions were made other than the need for further discussions.

The meeting was adjourned at 6:15 p.m.

Respectfully Submitted

Edwin F Hallenbeck

Secretary

Next meeting: April 5, 2018. 5:00 p.m.