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�CONGREGATIONAL �MEETING�

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June 25, 2023

2 of 22

�WELCOME & AGENDA�

  • Opening Prayer
  • Approval of Minutes from Congregational Meeting on 1/29/2023
  • Pastor’s Update
  • Vote on Nominating Committee 2023/2024
  • Finance Report
  • Operating Budget FY 2024
  • Capital Budget FY 2024
  • Election of Council, Secretary and Treasurer 2023/2024
  • Other Business
  • Recognition
  • Adjourn
  • Closing Prayer

3 of 22

APPROVAL OF MINUTES �FROM PAST MEETINGS

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  • Motion to approve the minutes from our January 2023 Congregational Meeting

4 of 22

VOTE ON NOMINATING �COMMITTEE 2023/2024

    • 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:
      • Margaret Anderson, Jim Berg, Kristin Comer, Paul Harrington, Debbie Kelley

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    • Motion to approve 2023/2024 nominating committee members.

5 of 22

PASTOR’S UPDATE

6 of 22

VICAR’S UPDATE

7 of 22

KYLE’S UPDATE

8 of 22

FINANCE - UPDATE�OPERATING FUND CASH FLOW

FYTD*

Giving & Interest 514,343

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Expenses (501,718)

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Difference 12,625

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* July 2022 through May 2023

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9 of 22

FINANCE - UPDATE�CAPITAL FUND CASH FLOW

FYTD*

Giving & Interest 129,066

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Expenses (218,469)**

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Difference (89,403)

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* July 2022 through May 2023

** Includes additional payment of $120,000 to mortgage principal

10 of 22

FINANCE UPDATE

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

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Cash Balance

May 31, 2023

May 31, 2022

Operating

90,831

150,531

Capital

66,340

127,095

Youth

6,925

6,596

Investment Account

29,040

28,874

Brokerage Account

2,500

2,500

Endowment Fund

25,000

25,000

Total Cash Balance

220,636

340,596

11 of 22

BALANCE SHEET UPDATE AS OF�MAY 31, 2023

Assets

June 30, 2022

May 31, 2023

Bank Accounts

281,985

195,636

Other assets

(90)

(90)

Total Current Assets

281,896

195,546

Equipment

27,160

29,187

Furniture & Fixtures

44,443

45,689

Building

520,800

520,800

Land

409,200

409,200

Land Improvements

695,270

695,270

Building Improvements

308,874

316,174

Organ

11,059

11,059

Handbells

7,087

7,087

Total Fixed Assets

2,023,893

2,034,466

Total Assets

2,305,789

2,230,012

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12 of 22

BALANCE SHEET UPDATE

Liabilities

June 30, 2022

May 31, 2023

Current Liabilities

58,469

59,667

Mortgage

878,604

705,880*

Total Liabilities

937,074

765,547

Equity

1,368,715

1,464,466

Total Liabilities and Equity

2,305,789

2,230,012

* Mortgage balance:

May 31, 2020 1,118,664

May 31, 2021 965,194

May 31, 2022 885,327

13 of 22

2023/2024 OPERATING BUDGET

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YTD 2022

FY 2023

FY 2024

Worship & Music

12,845

17,759

26,090

Christian Education

3,973

2,783

7,300

Member Care

1,571

6,100

7,180

Fellowship

1,948

3,000

4,500

Youth Ministry

6,878

8,250

8,750

Outreach

3,707

8,850

12,000

Nursery

0

900

1,000

ELCA Mission Support

41,452

46,800

57,500

Other indirect Services

1,000

0

1,500

Property

76,998

62,671

63,657

Stewardship

1,100

2,500

1,500

Finance

5,451

2,060

5,940

Personnel

331,706

337,486

372,045

Administration & Operations

6,158

7,732

6,600

Communication

0

1,540

0

Total Expenses

494,787

508,431

575,563

14 of 22

2023/2024 OPERATING BUDGET

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  • Total Budget: $575,563
    • Increase of $67,131 from current year budget
    • 13.2% increase over current year budget
    • Increase of $35,000 over projected actual 2022/2023 year-end
    • 6.5% increase over projected actual 2022/2023 year-end

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  • Operating Account Current Balance: $90,831
    • As of May 31, 2023

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  • Motion to approve 2023/2024 Operating Budget.

15 of 22

2023/2024 CAPITAL BUDGET

* Monthly mortgage payments is $6,271. Mortgage was refinanced late last year, reducing monthly payment by $2,707 per month. Current interest rate is 4.625% for a 10 year Loan.

** As of May 31, 2022

***Minimum MIF Loan requirement is $25,000 (held at MIF) plus 4 months mortgage payments (held by AGLC).

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Projected Revenue

Annual Mortgage

Projected Balance

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Current Bank Balance

MIF Reserves/Minimums

Fund Balance in Excess of Reserves

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MIF Account Balance

Mission Investment Fund

$42,000

$75,252

($33,252)

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$66,340

($25,084)

$41,256

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$29,040

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*

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**

***

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***

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16 of 22

2023/2024 CAPITAL BUDGET

  • Motion to approve 2023/2024 Capital Budget.

17 of 22

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
  • Five current Council members have one more year in their terms:
      • Jerry Court
      • Bob Hill
      • Jonathan Kraatz
      • Pete Marquart
      • Jane Seris
  • Today, we will elect a Secretary, a Treasurer, and five Council members.

18 of 22

COUNCIL BALLOT

  • Council (five two-year-term openings): vote for 5
    1. Tom Brekhus
    2. Lisa Derasaugh
    3. Claudia McWhorter
    4. Simon Scholtz
    5. Jonathan Charlton (Youth)
  • Secretary (one-year term)
    • Annelise Stasny
  • Treasurer (one-year term)

1. Craig Womeldorph

19 of 22

COUNCIL ELECTION

  • Nominations from the floor

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  • Election

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All council members, including those newly elected, please come to the music room immediately following this meeting.

20 of 22

OTHER BUSINESS

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  • Synod Assembly Report

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  • Any other business from the floor?

21 of 22

RECOGNITION

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  • Thanks to outgoing Council members:
    • Margaret Anderson
    • Jim Berg
    • Alexander Charlton
    • Kristin Comer
    • Paul Harrington
    • Debbie Kelley

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22 of 22

CLOSING OF �CONGREGATIONAL MEETING

  • Motion to Adjourn

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  • Closing Prayer