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November 2008 Finance Committee Report

Minutes of Finance Committee Meeting of October 25, 2008

Report to Business Meeting of Nov. 16, 2008

  

Present: Greg Cliburn, Bob Gaines, Peggy Giltrow

 

The meeting started with silence. The Committee worked on the proposed General Fund budget for operating expenses for Santa Fe Monthly Meeting of Friends for 2009, using replies from conveners of various committees which have line items in the budget and costs for program expenses. We also looked at projected expenses compiled by the Treasurer for the rest of 2008. We realized we needed to clarify two items and perhaps add another before presenting the draft to the November Meeting for Worship for Business on November 16. That has been done, and a draft budget is attached.

Total proposed expenditures for operating expenses for 2009 add up to $15,538. That is $157 more than the final budget for 2008.

In recent years, the Meeting had strongly tried to hold to the principle of matching operating expenses with the combined figure for IMYM assessment and good works. Last year the Finance Committee, worried about the potential total figure for the operating budget, asked the Good Works committee to hold to the figure of $11,480 from 2007.

The Finance Committee would like the Meeting to decide whether we corporately can afford to go back to our principle of parity in 2009. That would mean a total operating budget for 2009 of $31,076. Given the deteriorating economic climate it may be difficult for members and attenders to increase their donations significantly. However, it is precisely at this time that the needs of our community will increase, so the Finance Committee strongly recommends that Meeting make this commitment.

Once Meeting decides on the amount which we can spend on good works, the Good Works Committee will be able to meet and produce a recommendation for how the money should be spent. We can look forward to their draft at the December business meeting.

The Clerk of Meeting sent the Finance Committee a notification of expenses connected to the Meeting’s membership in the Interfaith Leadership Alliance. The group has incorporated, and charges members. Meeting’s cost would be $35 plus $1 per congregant. The Finance Committee recommends that this cost become a line item in the Good Works budget for 2009.

The Finance Committee considered Treasurer’s reports, overspending procedures, and how best to inform members and attenders of the seasonal shortfall between the 2008 budget and donations to date. The Treasurer has incorporated suggestions from the October business meeting into the quarterly and annual reports for the end of this year. Committees are asked to adhere to procedures which advise that requests for additional funds beyond the year’s budget be presented to the Finance Committee for consideration by Meeting for Business if at all possible. The Finance Committee will be reminding people of the donation shortfall in the newsletter and in the meeting news digest, with updates as the year winds down.

Respectfully submitted,

Peggy Giltrow, convener of Finance Committee

 

 

 

 

 

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