ALL SOULS UNITARIAN CHURCH BOARD MEETING

January 11, 2006

Minutes

Board Officers
Johnson, Bruce	President	Present	Wetzel, Ed	Treasurer	Present
Rempel, John	V President	Present	Middleton, Mike	Secretary	Present
Board Members
Boland, Katie	Exp 2006	Present	Stanis, Suzanne	Exp 2007	Absent
Byer, Greg	Exp 2006	Absent	Wiesinger, Eric	Exp 2007	Present
DeRocker, Joy	Exp 2006	Present	Dunkin, Ray	Exp 2008	Present
Miller, Babette	Exp 2006	Present	Hansen, Carol	Exp 2008	Present
Bartley, Brian	Exp 2007	Present	Merriman, Sharon	Exp 2008	Present
Evans, Sarah	Exp 2007	Present	Spencer, Gary	Exp 2008	Absent
Others Present
Clear, Bruce	Minister		Craig, Bonnie	Office Adm.
Murphy, John	Council Chair		Sibert, Tom	BRP Financing

Bruce Johnson called the meeting to order at 7:04 pm.

Minutes

Minutes of the November 9 Board meeting and November 13 Congregational meeting were approved.

Treasurer’s Report

Ed presented the treasurer’s report. Ed pointed out that the $5,246.62 furnace repair was not in the budget and accounted for our income exceeding our expenses for 2005 by $4550.72 or 1.4% of the budget. The Board discussed the issue that the furnace repair exceeded the estimate by around $4,400. John will see if further action can be taken to remedy this. The Holiday Card fund-raiser was a success netting $5645.65. The next fund-raiser is the auction.

Endowment

Mike presented the Endowment financial statement. The Endowment value is at $493,745 with an investment gain of 4.4% for 2005.

Capital Campaign Finance Committee

Tom reported on the committee’s work and a request. Tom pointed out that it is better to have the financing in place before getting bids for work. The committee has looked at interest rates, fees, term of loan and other aspects of financing bids from five lenders. They have narrowed the selection to two and expect further negotiation. The interest cost by June 08 would be in the range of 70,000 to 90,000 with an expected pledge fulfillment of 95%. It is expected that after the construction we will raise additional funds in the amount required (approximately $440,000) to pay off the loan.

The committee would like approval to enter into a loan with the following general parameters. The construction loan would provide a $1.1million line of credit after which the balance would roll over into a mortgage. The entire loan would be for a 3-year term with a floating rate at prime (7.5% at this time) or less. Fees would be in the range of $12,000 or less. The Endowment would not be used to pay the loan.

Sharon suggested a smaller loan amount. It was pointed out that it would not reduce the interest rate and would only save a nominal amount in fees. John pointed out the need to keep the BRP account flush with cash.

The motion was made and seconded to approve financing with the committees listed parameters. The motion passed by voice vote with no dissent.

Canvass Report

Bruce J presented the canvass report. There have been 194 pledges received for a total of $256,436 pledged.

Membership Report to UUA

Bruce J stated that we would report 505 members to the UUA. This puts us in a category (<550 members) where our dues are calculated on a per member basis rather then as a percentage of the budget. This does not change what we are going to pay in 2006.

Alarm System

Thieves backed a vehicle into the garage door breaking it open then stealing under $1,000 in equipment from the garage. A motion was made and seconded to get bids for an alarm system. A previous robbery was mentioned where a video camera and some bratwurst were stolen. A question was raised about possible insurance savings. Bonnie will look into this. John mentioned that having Milton on site is a deterrent. Security during construction was discussed. It is being considered in the BRP committee.

The motion was passed by a voice vote.

Minister’s Report and Religious Education Report

Bruce C gave a service on the small groups program to a larger then usual audience. He was pleased to report that including facilitators over 70 people are getting involved in the program. Nancy presented the RE report.

Misc.

The Committee On the Future is still active. Cleaning the basement is getting more attention. John Murphy is heading that up. Recycling aluminum is being looked at.

The meeting adjourned at 8:23 PM

Mike Middleton, Secretary to the Board