Members
Tim Clifford,  Paul Ravenna (Chair), John Albert , Laura Nickol,  Flo Fisse (Staff Rep,)
Missing - Charles Milazzo, Steve Lang, Paul Block, Father Tom Dennemann

Associated Sub-Committees
Bunko,  Centsible Shopping, Chicken Dinner, Festival, Oktoberfest, Market Day, Raffle

DONATIONS OF STOCK TO ST. ANN PARISH

       Since there are individuals in the parish who from time to time make stock donations to St. Ann Parish, we want to advise you of a new procedure recently introduced in the Archdiocese.

       If you are making a stock donation, you are asked to contact the parish office (521-8440).  At that time an account number will be given and the person/brokerage firm handling the transfer of stock can do it with an electronic transfer into a special account at Fifth Third Charitable Management Control Services.  This speeds up the receipt of the stock and funds and is more efficient for all concerned.

       Thank you for your cooperation with this method which has already proved to be very effective.

Finance – Commission Meeting Minutes March 2010

Income Statement Review –

·        Sunday Collections are down $74,877 for the year, however, with Easter Sunday this should improve significantly. 

·        We received very few Bequests – It has been suggested we schedule a morning (after 8:30 AM Mass) and evening presentation to interested parishioners given by parish financial planners, attorneys, etc. in an effort to bring attention for planning of wills, including bequests to parish.  We should do this at least on an annual basis. 

·        It was decided we should resume mailing to parishioners requesting Tuition Assistance donations.  We need to clarify difference between “Tuition Assistance” and Centsible Shopping.  The Tuition Assistance Fund is for use to assist the St. Ann families in financial need. The Scrip program helps defray the cost of tuition for all St. Ann families attending OLG.  Can this be addressed, in part, through a FAQ section on the website?  Should the name of the Tuition Assistance fund be changed to reflect the idea that it assists St. Ann families?  

·        The general assessment payment will be made in monthly payments instead of quarterly payments for budgeting purposes. 

·        Council questioned if OLG would be interested in receiving monthly payments instead of quarterly?  Would this also help with the parish budget?  Tim Clifford will look into this matter. 

·        The parish continues to dispute how parish payments to the archdiocese are posted to our debt/payments. 

·        The Archdiocese Debt Reduction program has been extended for another year. As of 3/12/10 the total collected for debt reduction is $327,027.05.

  Stewardship - Father Tom, Tim Clifford, Paul Ravenna, Steve Lang, Flo Fisse and Laura Nickol attended the Archdiocese presentation by The Cunneen Company as to Parish Stewardship Initiative - Offertory Enhancement - This program is offered at “no cost to the parish” with a nine week timeline (In-Pew presentations, Letters, Pulpit and Bulletin announcements).  Results in those parishes who have already conduced the program show excellent results with increase in Sunday Offerings of at least 10%.   The Finance Commission will discuss further at April meeting and proceed with decision as to timeline start date.  

 Parish Audit - Brief discussion as to Internal Audit of parish books.  Paul Jeanmougin has been contacted and this should be conducted soon.  This would be a good opportunity for all parish organizations to have their books audited.

 2010-2011 Budget – The proposed budget was thoroughly reviewed with explanations and commentary provided by Tim Clifford. 

·        The budget was prepared using an inflation rate of 4% and increased medical costs of 5%. 

·        Due to the current difficult economic times, the projected Sunday/Easter collections have been reduced by 4% and the budget for parish activities will be reduced by $30,000. The operating revenue for the parish has been reduced from $1,294,510 to $1,204,400. 

·        The projected profit for the Festival is increased to $70,000 as a result of having less expense for electrical replacement.

·         $1,000 has been budgeted for a parish mission to take place during Advent.  Insurance costs will be shared with OLG. 

·        $25,000 has been budgeted for replacing the roof section from the Church into the school.  This work will be bid shortly. 

·        An additional $25,000 has been budgeted for infrastructure of the back lot.  It is projected it will be three years before any possible profit is seen from the back lot. 

·        The rectory phone system and the computers and server in the rectory are scheduled for upgrade.

·        Bill Witzgall made the motion to approve; Richard Sweet seconded the motion.