Board Reviews End-of-Year Budget Balance, Approves Funds for Future Planning

Sunday, October 30, 2016

The Foundry Management Board, a nine-person elected group, meets monthly

to discuss and make decisions regarding the management of the church.

 

 

Finance Update

At its October 25 meeting, Foundry’s Management Board discussed shortfalls in the church’s operating budget as the fourth quarter of 2016 began, and reviewed spending options looking forward to the advent of Phase 2 of the Mission Possible building campaign.

 

A report from the Finance Committee showed expenses in September of $168,860, while income during the month reached only $106,835 – resulting in a monthly deficit of $62,025.

 

Of more concern, members observed, were figures revealing a year-to-date deficit of $273,907. Board member Sam Kilpatrick suggested that the board consider cutting expenses in order to bring the budget into closer balance by year’s end. Other members noted that holiday and end-of-year gifts to the church often reduced financial gaps, and that there was little fat to trim in an already-lean budget.

 

Finance Committee Chair Matt Hansen was among other members who pointed out that the board had approved a deficit budget for 2016, noting that some funds could be pulled from reserves if necessary to bring the budget into balance. He also said that the church had only collected 60 percent of projected revenues from pledges to date. Board Chair, Louise Franklin, reminded the group that the deficit budget was part of a multi-year strategic plan. The plan decreases the deficit in the budget by each year until a balanced budget is achieved, while intentionally funding certain staff positions and expanding programming. 

 

Senior Pastor Ginger Gaines-Cirelli acknowledged that her conversations with congregants had perceived a sense of unease about the current political and social environment. She observed that such tension may mean that individuals may hold back on pledges until they are more certain about the immediate future.

 

Mission Possible Phase II

Paul Hazen, chair of the Mission Possible Committee, gave a brief report on options for a second capital campaign in 2017. In addition to servicing debt for Phase I, other projects that may be included are repairs to the sanctuary organ, new air handlers for the sanctuary, repairs to the north sanctuary wall, and exterior improvements. The board approved a request for $20,000 to cover planning costs for the campaign.

 

 

 

Children’s Ministry

During the Clergy report, Dan Vock raised concerns about the changes in Sunday School programming that coincided with the Sunday worship redesign and the level of detail that was communicated to the congregation.  Several board members echoed these concerns.  Pastor Dawn shared that the Sunday Redesign Ministry Team is about to start its first evaluation of the change which was planned to start after the 5th Sunday with the new worship schedule.  After further discussion, both board and staff agreed that the lessons learned and general sentiment of the congregation would be considered by staff and incorporated as best suits the needs of the congregation, and Foundry’s vision and mission. 

 

Members present at the October 25 meeting were Leigh Carter, Louise Franklin, Matt Hansen, Sam Kilpatrick, Doug Steele, Samantha Sweeney, P.J. Taylor, Dan Vock, and Gwen Williamson. Also present were Pastors Ginger Gaines-Cirelli, Dawn Hand, and Al Hammer.

 

Submitted by the Strategic Communications Ministry Team

 

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