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���CONGREGATIONAL �MEETING�

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June 24, 2018

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WELCOME �Agenda Congregational Meeting �June 24, 2018

  • Opening Prayer
  • Approval of Minutes from Congregational Meeting on 1/28/18
  • Pastor’s Presentation
  • Vote on Nominating Committee 2018/2019
  • Finance Report
  • Mortgage Repayment Plan
  • Operating Budget FY 2019
  • Capital Budget FY 2019
  • Election of Council, Secretary and Treasurer 2018/2019
  • Other Business
  • Recognition
  • Adjourn
  • Closing Prayer

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APPROVAL OF MINUTES �FROM PAST MEETINGS

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  • Motion to approve the minutes from our January 2018 Congregational Meeting.

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Pastor’s Presentation

  • Vision: continued outreach and service to our community

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  • Growth
    • Membership
      • January 392
      • Now 412
      • 50 per year
    • Second Service

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  • Ability Connection

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VOTE ON NOMINATING �COMMITTEE 2018/2019

    • Per our constitution:
      • C13.02. A Nominating Committee of three to six voting members of this congregation, two of whom, if possible, shall be outgoing members of the Congregation Council, shall be elected at the annual meeting for a term of one year. Members of the Nominating Committee are not eligible for consecutive reelection.

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    • Outgoing council members willing to serve:
      • Kenn Mingus, Chad Nelson, John Nelson

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Treasurer Update

June 24, 2018

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Finance-Update

Operating Fund vs Budget

Fiscal Year 2017-18*

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*Includes an estimate for June

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Fiscal Yr. *

Budget

Variance

Giving and Gifts

422,807

380,495

42,312

Expenses

(393,833)

(380,495)

13,338

Difference

28,974

0

28,974

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Finance-Update

Capital Fund vs Budget

Fiscal Year 2017-18*

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*Includes an estimate for June

Note: there may be in error in this report; it is being investigated and the presentation will be updated later if necessary

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Fiscal Yr. *

Budget

Variance

Giving and Interest

95,874

302,112

(206,238)

Expenses

(71,674)

(108,000)

36,326

Difference

24,200

194,112

(169,912)

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Finance Update

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Minimum Cash Balance is 45 days expenses for Operating Account and 4 mortgage plus $25,000 for the Capital Account.

Cash Balance

July 31, 2017

May 31, 2018

Operating

140,685

172,889

Capital

143,449

147,203

Certificate of Deposit

10,000

10,000

Investment Account

177,945

28,058

Brokerage Account

2,503

2,510

Total Cash Balance

474,582

360,660

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Balance Sheet Update as of �May 31, 2018

Assets

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Bank Accounts

350,659.80

Other assets

10,015.76

Total Current Assets

360,675.56

Equipment

6,466.71

Furniture & Fixtures

15,883.15

Building

520,800.00

Land

409,200.00

Land Improvements

695,064.81

Building Improvements

300,404.49

Organ

11,059.28

Handbells

7,087.50

Total Fixed Assets

1,965,965.94

Total Assets

2,326,641.50

Assets 2017 report

1,899,936.00

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Balance Sheet Update

Liabilities

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Current Liabilities

550.37

Mortgage

1,265,216.76

Total Liabilities

1,265,767.13

Equity

1,060,874.37

Total Liabilities and Equity

2,326,641.50

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Mortgage Repayment Plan

  • This plan is the result of the stewardship committee, the finance committee, and the church council working together.
  • Things already completed:
    • Follow-up with those who have yet to complete their pledges for the Growing to Serve Capital Campaign.
    • As part of the 2018 Stewardship Drive, encourage those completing their Capital Campaign gifts to increase their Stewardship gifts or extend their Capital gifts.

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Mortgage Repayment Plan

  • Pay the interest on our Monthly Mortgage payment:
    • Step 1. $3,300 out of our Operating Funds starting in the Next Budget, 2018-2019.

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    • Step 2. In the 2019-2020 Budget year increase the amount to $6,000, $3,000 would be to Principal.  

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    • Step 3. In the 2020-2021 budget pay the entire Mortgage payment of $9,000 out of the operating budget.

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Mortgage Repayment Plan

  • On an annual basis, the Council will conduct a financial review to determine what amount, if any, the Council recommends to the Congregation be transferred from the operating account to the capital account for the purpose of facilitating ongoing mortgage payments.
    • The church council recommends that $40,000 be transferred from the operating account to the capital account for ongoing mortgage payments.

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Mortgage Repayment Plan

  • AGLC conducts a Capital / Endowment Campaign in 2019, or as needed, to build the Capital Fund and establish the Endowment Fund.

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  • Build Endowment Fund so that money can be available for the Operating Fund in the next 3-5 years.

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2018-19 Budget

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FY 2018

FY 2019

Change

Worship & Music

12,585

15,835

3,250

Christian Education

3,075

3,536

461

Member Care

3,000

3,000

0

Fellowship

3,575

3,600

25

Youth Ministry

7,030

8,085

1,055

Outreach

4,269

6,575

2,306

Nursery

300

5,200

4,900

ELCA Mission Support

37,868

45,000

7,132

Other indirect Services

3,200

3,200

0

Property

62,952

65,470

2,518

Stewardship

1,500

1,500

0

Finance

3,625

3,500

-125

Personnel

230,223

261,130

30,907

Administration & Operations

7,292

7,500

208

Mortgage Interest

0

39,600

39,600

Total Expenses

380,494

472,731

92,236

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2018-19 Capital Budget

* As of May 31, 2018

** Monthly transfer from operating fund.

*** Twelve mortgage payments, $8,978 each

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Current Balance

$193,095

*

Revenue

$39,600

**

Expense

$107,736

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Structure of the Church Council

  • Our Council is comprised of 12 lay members and Pastor Nick
    • Secretary (one-year term)
    • Treasurer (one-year term)
    • 10 Council members (staggered two-year terms) of which at least one is a youth/young adult
    • Note: President and Vice President selected by council from among its members
  • Four current council members have one more year in their terms
    • Janet McElfresh
    • Karen Hurtado
    • Mike Humen
    • Ethan Anderson
  • Today we will elect a secretary, a treasurer, 1 council member to a 1-year term, and 5 council members to 2-year terms.

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Council Ballot

  • Secretary
    • Laura Hopkins (Second Term)
  • Treasurer
    • Arthur Anderson (First Term)
  • Council (2-year term): vote for 5
    1. Tim Draney
    2. Don Duval
    3. Bruce Holte
    4. Tony Seris
    5. Alison Viktorin
  • Council Member (1-year term): vote for 1
  • 1. Lisa Harrington

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  • Nominations from the floor

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  • All council members, including those newly elected, please meet in the music room immediately following this meeting.

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Other Business

  • Any other business from the floor?

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RECOGNITION

  • Thanks to Sunday School Teachers and helpers.

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  • Thanks to out going council members.

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CLOSING OF CONGREGATIONAL �MEETING

  • Motion to Adjourn

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  • Closing Prayer