CMM 2013-12-08
Minutes of Meeting for Worship for Business
Concord (NH) Monthly Meeting of the Religious Society of Friends
Twelfth Month 08, 2013
Attending: 17
12.1 The meeting opened with a period of worship.
12.2 Financial Report: Treasurer David Woolpert presented the financial report. We are 50% of the way through our fiscal year but have only raised 41% of our budgeted income, although some people do make their annual contributions at the end of the calendar year. We just received a shipment of wood pellets that will be in next month’s expenses. The Budget Committee will discuss potential options for investing some of our unrestricted assets at their January meeting. He noted that $3,800 per year is going toward the mortgage so if the meeting were to receive funds toward paying off that sum we would save that amount. Our income this fiscal year is $9,517; expenses are $7,942 $8,513, and the balance is $1,574 $1,004.
12.3 All New Hampshire Friends Gathering: All New Hampshire Friends has traditionally been Martin Luther King, Jr. weekend but will be in March this year due to time constraints. PSECC would like to hold it at the Meetinghouse.
Friends approved hosting All New Hampshire Friends at the Meetinghouse in late March 2014.
12.4 The meeting closed with a period of worship.
Submitted by
/s/ Jonie LaBombard, Recording Clerk
/s/ Ruth Mobilia Heath, Presiding Clerk
| Concord Monthly Meeting Income & Expenses | 2013-06 — 2013-11 | FY 2014 Budget | Remaining | % Budget |
|---|---|---|---|---|
| Income | ||||
| Contributions | $8,705 | $21,480 | ($12,775) | 41% |
| Interest Income | $1 | $3 | ($2) | 25% |
| Miscellaneous Income | $481 | $200 | $281 | 240% |
| Prior Year Funds | $0 | $1,800 | ($1,800) | 0% |
| Rental Income | $330 | $700 | ($370) | 47% |
| Total Income | $9,517 | $24,183 | ($14,666) | 39% |
| Expenses | ||||
| Program | ||||
| Budget Committee | $13 | $50 | ($37) | 26% |
| Hospitality / Outreach | $25 | $150 | ($125) | 17% |
| Library | $0 | $50 | ($50) | 0% |
| Ministry & Counsel | $273 | $300 | ($27) | 91% |
| Peace, Social, & Earthcare Concerns | $0 | $100 | ($100) | 0% |
| Youth & Religious Education | $102 | $375 | ($273) | 27% |
| Total Program | $412 | $1,025 | ($613) | 40% |
| Property | ||||
| Building Maintenance | $0 | $250 | ($250) | 0% |
| Debt Service | $1,903 | $3,806.00 | ($1,903) | 50% |
| Donation in Lieu of Taxes | $0 | $300 | ($300) | 0% |
| Electricity | $518 | $1,200 | ($682) | 43% |
| Grounds | $1 | $100 | ($99) | 1% |
| Insurance | $1,002 | $1,816 | ($814) | 55% |
| Rent Expense | $0 | $0 | ($0) | 0% |
| Replacement Reserve Expense | $2,500 | $5,000 | ($2,500) | 50% |
| Snow Removal | $0 | $1,400 | ($1,400) | 0% |
| Supplies - Bldg. & Maintenance | $44 | $400 | ($356) | 11% |
| Telephone | $211 | $400 | ($189) | 53% |
| Wood Pellets | $571 | $1,200 | ($629) | 48% |
| Total Property | $6,750 | $15,872 | ($9,122) | 40% |
| Support | ||||
| AFSC | $0 | $1,281 | ($1,281) | 0% |
| Dover Quarterly Meeting | $0 | $10 | ($10) | 0% |
| FCNL | $0 | $118 | ($118) | 0% |
| Friends Camp | $0 | $250 | ($250) | 0% |
| FWCC | $0 | $52 | ($52) | 0% |
| Interfaith Council | $50 | $50 | ($0) | 100% |
| NEYM - Equalization Fund | $0 | $500 | ($500) | 0% |
| NEYM - General Fund | $1,106 | $4,425 | ($3,319) | 25% |
| NH Council of Churches | $0 | $50 | ($50) | 0% |
| Total Support | $1,156 | $6,736 | ($5,580) | 17% |
| Other | ||||
| Advertising | $195 | $500 | ($305) | 39% |
| Miscellaneous Expenses | $0 | $50 | ($50) | 0% |
| Total Other | $195 | $550 | ($255) | 36% |
| Total Expense | $8,513 | $24,183 | ($15,670) | 33% |
| Net Income | $1,004 | $0 | ($1,004) | 100% |
NB. The Income & Expenses Sheet was created with two decimal points, which were removed for readability, the cents being unimportant to the overall understanding. This can have the effect of throwing off any given sum by a dollar due to compounded rounding.
Prepared by Greg Heath and David Woolpert
| Concord Monthly Meeting Balance Sheet | |||
|---|---|---|---|
| ASSETS | |||
| Current Assets | |||
| Checking/Savings | |||
| Checking 123410166 | $17,107.58 | ||
| Money Market 101049498 | $1,577.45 | ||
| Total Checking/Savings | $18,685.03 | ||
| Total Current Assets | $18,685.03 | ||
| Fixed Assets | |||
| Building | $466,454.97 | ||
| Land | $50,000.00 | ||
| Total Fixed Assets | $516,454.97 | ||
| TOTAL ASSETS | $535,140.00 | ||
| LIABILITIES & EQUITY | |||
| Liabilities | |||
| Current Liabilities | |||
| Construction Projects | $206.51 | ||
| Operating Reserve | $3,000.00 | ||
| Special Projects | |||
| Costa Rica Film | $80.00 | ||
| Kakamega (Kenya) Orphanage | ($19.00) | ||
| Total Special Projects | $61.00 | ||
| Total Current Liabilities | $3,267.51 | ||
| Long-term Liabilities | |||
| Mortgage Loan 1 | $33,668.05 | ||
| Replacement Reserve | $8,499.96 | ||
| Total Long-term Liabilities | $42,168.01 | ||
| Total Liabilities | $45,435.52 | ||
| Equity | |||
| General Fund Balance | $457,374.84 | ||
| Unrestricted Net Assets | $30,755.45 | ||
| Net Income | $1,574.18 | ||
| Total Equity | $489,704.48 | ||
| TOTAL LIABILITIES & EQUITY | $535,140.00 |
Do we have the resources to support our obligations? YES
| Total Current Assets | $18,685 |
| - Total Current Liabilities | ($80) |
| - Replacement Reserve | ($3,268) |
| Total Unrestricted Cash | $15,338 |
