1. St. John’s Finances 101
November 4, 2018

2. Introduction We are blessed
Our Financial Resources allow us to live out our values as a parish
Goal today is informational
Jesus talked about $$ a lot – it’s good for us to understand & discuss St. John’s finances

3. Agenda Discretionary –Candace Endowment –Dawn Operating –Gerry
Special Purpose –Candace
Dorothy Rainey Bequest - Candace
Safeguards - All
Q&A –All

4. Discretionary Fund Discretionary Fund value - $5523 Fund Source
Plate donations 3rd Sundays and donations specified for Discretionary
How spent
Priest’s discretion on how the funds are used
Meet needs in our community (e.g., bus passes, help with utilities)
Meet needs of parishioners
Fund special needs for the parish not covered in the budget

5. Endowment Fund History – Dawn Wheatley
Corporate Resolution – 2000
Original Value of endowment ~$190K (Enloe, Lyson Strout….)
Encourage Endowment gifts through sound management
Dorothy Rainey gift (specified for Endowment)
Date and amount (~$900K)
Growth Policy – 2014
Funds combined and renamed to Designated & Undesignated
Base calculation on 2007 value - pre-2008 crash
Managed by Endowment Committee – members
Grant Request process

6. Designated Endowment Fund
Designated Fund Value - $486,828
Fund Source examples
Enloe - designated to offset assessment
Waltz/Lamson – designated for music and altar guild
How Annual Income and Growth are Spent - $13,044
Income -> Operating Fund
Growth as declared available by vestry – ~30K has accumulated over past four years

7. Undesignated Endowment Fund – Dawn Wheatley
Undesignated Fund Value- $1,844,641
Fund source examples
Dorothy Rainey
Many other donors
Celebratory and Remembrance
How annual income and growth are spent - $70,584
Earnings $43,644; Growth $23,461; Carry over from 2017 $3479
Outreach
Parish initiatives

8. Operating Fund – Gerry Vandenberg
Annual Expense ~$267K
Operating Fund Source (short ~$30K of Expenses)
Annual Pledge - $172,599
Non-pledge giving - $18,000
Plate - $1500
Designated Endowment Income - $11,000
Rectory - $11,000
Dorothy Rainey Bequest - $11,000
How spent – supports our ministries and mission
Operating Budget Adopted each year by vestry & presented at Annual Meeting
Spending is according to this budget or as revised by vestry
Salaries, utilities, Diocesan assessment, ministries, convention

9. Operating Reserve Trend – need 20% increase to balance budget

10. Active Communicants holding steady, but average Sunday attendance -22%

11. Treasurer’s Reflections
We are not alone – we are experiencing the same challenges as other churches of our size
Costs going up – 20%
Salaries
Health Insurance
Utilities
Increased reliance on Investment Income vs. Pledges

12. Special Purpose and Memorial Funds - Candace
Not subject to annual budget – place to store for SP over multiple years
Special Purpose and Memorial Fund Value - $127,751
Source of Funds
Gifts to Capital Project (from parishioners)- $62,449
Building Improvements (from Operating) - $21,037
Supply Priest and Saving for Clergy Sabbatical - -$328
Outreach (from Endowment Grant)- $13,422
Memorial gifts NOT directed to Endowment - $15,393 (earmarked for altar)
Work of ministries – Community Kitchen, Creation Stewards, Altar Guild, Men’s Club, Columbarium, etc.
How spent
Up to the purpose of each special fund

13. Non-Endowment Funds Rectory Fund - $511,121
Source – sale of Rectory
Annual Income of $11,000 used for Operating to offset Rector housing
Dorothy Rainey Bequest Fund Value - $517,250
How Spent
Income for Youth Director in first couple years
Borrowed from fund, and repaid over three years – painting the building exterior
Lately - Annual income to Operating Fund - $11,000

14. Policy governing use of Dorothy Rainey Funds
Adopted by Vestry September 24, 2013
The following decisions are the Vestry’s alone
We use this fund as an income producing asset; thus the earnings are used for various needs for the mission of the parish; not normally for the operating budget.
Monies can be borrowed from this fund for larger needs and the loan is repaid by the earnings.
Only in extraordinary circumstances, money can be expended without repayment
In this case, only after the Vestry weights carefully the value of the proposed project or use of the money against the loss of future income and loss of future ability to borrow and repay
Such as use as this would only be made after at least two Vestry meetings and notice to the parish.

15. Dorothy Rainey Bequest Fund Balance and Income

16. Safeguards Annual Audit – Dawn Counting by Twos - Candace
Process controls, bank reconciliation, etc. - Gerry

17. Q&A

18. Q&A Why do we two funds named after Dorothy Rainey?
What is being done to encourage growth in our church?