ALL SOULS UNITARIAN CHURCH BOARD MEETING
February 21, 2007
Minutes
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Board
Officers |
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Johnson,
Bruce |
President |
Present |
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Wetzel,
Ed |
Treasurer |
Present |
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Murphy,
John |
V
President |
Present |
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Middleton,
Mike |
Secretary |
Present |
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Board
Members |
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Bartley,
Brian |
Exp 2007 |
Present |
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Hansen,
Carol |
Exp 2008 |
Absent |
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Stanis,
Suzanne |
Exp 2007 |
Present |
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Merriman,
Sharon |
Exp 2008 |
Present |
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Wiesinger,
Eric |
Exp 2007 |
Present |
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Spencer,
Gary |
Exp 2008 |
Present |
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Dunkin,
Ray |
Exp 2008 |
Present |
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Griffith,
Debi |
Exp 2009 |
Absent |
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Others
Present |
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Harris,
Sarah |
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Clear,
Bruce |
Minister |
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Gavin,
Chris |
Office
Adm. |
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Clear,
Nancy |
RE |
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Atwater,
Rich |
BRP Chair |
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Bruce Johnson called the meeting to order at 7:07 pm.
Minutes of the January 10 Board meeting were approved. Minutes of the November 19 Congregational meeting were approved with minor corrections.
Sarah said that things are going well. The Coop wants to put up a 4ft by 3ft sign that is current for what they offer. The sign, paid for by the Coop, will have posts and a boarder that will match the wood color on the building. The interior will be white with black lettering. Sharon suggested a two-sided sign. The Board is OK with the sign.
Rich presented the BRP report. To vigorous applause Rich pointed out that the pods and dumpster are gone. The committee is working with MD Rowe to wrap things up. Siding and window finish work is the last major part of the project remaining. In ten days the acoustic upgrades will be complete. The wireless Internet access donated by John West has been installed. The loose ends are being identified and dealt with. Tom Sibert will be asked to report on the status of the Capital Campaign at the March meeting. The building loan will convert to a mortgage on March 12. About $160,000 more will be spent to pay bills and cover the work remaining. Rich predicts that the total actual cost will be 1,378,000 vs. the original budget of 1,348,000. Nods of approval came from the Board.
Ed presented the report for the year-end 2006. He pointed out cost overruns for health insurance, property insurance and salaries. Furnace repairs and the “Building” line item were the most significant unexpected costs. The cash flow for year-end 2006 was +14,657 due to 37,464 in contributions that exceeded the pledge budget. It was noted that several times we asked for contributions above and beyond the pledges.
Mike gave the endowment report. The endowment had a performance gain of 10% for 2006. The Mutual Shares fund was up 17%. The S&P Index fund was up 13%. Lilly was down 5% including the dividend. A discussion of the Lilly holding ensued. I mentioned that I thought it more appropriate to hold mutual fund shares rather then individual stock and that we might be holding Lilly for emotional reasons. The board found this highly questionable if not unacceptable. A former Lilly employee pointed out that the company is not a good investment due to the political climate. Another board member commented that 20% in one stock is not good. Another said to do what is best for the church. I will get back to the endowment committee and adjust our portfolio. Nancy asked about keeping track of the endowment commitments. A reimbursement line will be added to the operating fund report.
Bruce C presented his report pointing out that the wedding of Ray Dunkin and Barbara Stilwell was the highlight of the month. The wedding was the inaugural event of the new atrium.
Nancy presented the report.
Bruce J brought up the training being offered by the Heartland district on March 17. He encouraged Board members and anyone interested to sign up early and take advantage of the training.
The meeting adjourned at 8:09 PM
Mike Middleton, Secretary to the Board