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.