CMM 2021-11-14

Minutes of Meeting for Worship with Concern for Business

Concord (NH) Monthly Meeting of

the Religious Society of Friends

Eleventh Month 14^th, 2021

Thirteen Friends gathered both in person and by Zoom connection and entered into quiet worship. We accepted the minutes of Tenth Month [1] as posted on the website.

We opened with a brief period of Worship.

11.01 Treasurer’s Report: We are now five months into our budget. Rental income is above what we were expecting and program expenses are lower. Our bookkeeper noted that one small expense was mis-categorized but it will be fixed for next month. We are reminded of the various special project funds in our report. A full report is attached.

Financial Summary
Total Income:	$13,156
Total Expenses:	$9,253
Net Income:	$3,903

11.02 The Finance Committee met last month and is implementing some improvements to good internal control in our bookkeeping; the Treasurer will send out the notices of annual contributions and they will be reviewed by the Finance Committee to insure that all checks were deposited into the appropriate account.

They are also considering moving a portion of our funds into a socially responsible investment vehicle such as the NEYM Pooled Funds [2] to gain potentially higher returns than what we’re currently earning in our banking account and in the Community Loan fund. We could invest $5–10k, leaving approximately $10k in our bank account to provide sufficient liquidity.

11.03 The Property Committee is continuing to work on acoustic improvements to both the worship and fellowship spaces. We have learned that we’re required to have asphalt striping in our parking lot and will take care of that in spring. They are also replacing our thermostats with some that can communicate wirelessly. They are continuing to seek a solution for battery back-up for light and heat during a power outage. A full report is attached.

11.04 The Outreach Committee has been very active and engaged, working on a mission statement and enumerating a list of goals. One current project is working with our web clerk to help make the website simpler and easier for new visitors to use without losing anything that we already have and value. A test site will be provided for member interaction and feedback. Their report is attached.

11.05 The Youth Religious Education Committee reports that they had children for outdoor First Day School for the past month, and are working with the Pandemic Response Team to see what we can do as we move into colder weather.

After a brief time of quiet worship, Meeting adjourned, purposing to meet again on the Second Sunday of the Twelfth month.

Submitted by,		Accepted as the Approved Record,

/s/ Heidi Babb, Recording Clerk		/s/ Mark Barker, Presiding Co-Clerk

Concord Monthly Meeting

Income and Expenses as of Tenth Month 31, 2021 [3]

(41⅔% of Fiscal Year 2022)
Concord Monthly Meeting Budget vs. Actual	2021-06-01 – 2021-10-31	Budget – FY 2021-22	Budget $ Remaining	% of Budget
Income
Contributions	$12,771	$25,672	$12,901	50%
Interest Income	–	$810	$810	0%
Prior Year Funds	–	$723	$723	0%
Rental Income	$385	$300	$-85	128%
Solar Roof Lease	–	$240	$240	0%
Total Income	$13,156	$27,745	$14,589	47%
Expenses
Program
Finance Committee	–	$30	$30	0%
Hospitality	$14	$100	$86	14%
Library	–	$140	$140	0%
Ministry & Counsel	$40	$400	$360	10%
Outreach Committee	–	$475	$475	0%
Peace, Social & Earthcare Concerns	–	$150	$150	0%
Right Relations	–	$500	$500	0%
Website Expense	–	$300	$300	0%
Youth & Religious Education	–	$300	$300	0%
Total Program	$54	$2,395	$2,341	2%
Property
Data Usage	$500	$1,000	$500	50%
Debt Service	$1,903	$3,805	$1,902	50%
Donation in Lieu of Taxes	–	$500	$500	0%
Electricity	$416	$1,000	$584	42%
Grounds	–	$100	$100	0%
Insurance	$951	$2,200	$1,249	43%
Maintenance	$800	$500	($300)	160%
Replacement Reserve Expense	$1,588	$3,810	$2,223	42%
Snow Removal	–	$1,700	$1,700	0%
Supplies - Bldg. & Maintenance	$72	$300	$228	24%
Wood Pellets	–	$1,300	$1,300	0%
Total Property	$6,229	$16,215	$9,986	38%
Support
AFSC [4]	$667	$1,600	$933	42%
Dover Quarterly Meeting	–	$10	$10	0%
FCNL [5]	–	$153	$153	0%
Friends Camp [6]	–	$306	$306	0%
FWCC [7]	–	$66	$66	0%
Interfaith Council [8]	–	$50	$50	0%
NEYM [9] - Equalization Fund	–	$306	$306	0%
NEYM - General Fund	$2,303	$6,334	$4,031	36%
NH Council of Churches [10]	–	$75	$75	0%
Woolman Hill [11]	–	$235	$235	0%
Miscellaneous Expenses	–	–	–	–
Total Support	$2,970	$9,135	$6,165	33%
Total Expense	$9,253	$27,745	$18,491	33%
Net Income	$3,903

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 Chris Haigh.

Concord Monthly Meeting FY 2022

Accrual Basis Balance Sheet as of Tenth Month 31, 2021 [12]
Concord Monthly Meeting Balance Sheet	10^th Month 31, 2021
ASSETS
Current Assets
Checking/Savings
Checking 123410166	$21,167
Money Market 101049498	$6,604
Total Checking/Savings	$28,771
Accounts Receivable
Accounts Receivable	$0
Total Accounts Receivable	$0
Other Current Assets
Prepaid Electricity	$6,584
Prepaid Insurance	$380
Total Other Current Assets	$6,964
Total Current Assets		$35,735
Fixed Assets
Building	$466,455
Land (including new lot)	$144,400
Total Fixed Assets		$610,855
Total Other Assets - NH Community Loan Fund [13]		$23,123
TOTAL ASSETS			$669,713
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
Accounts Payable	$0
Total Accounts Payable	$0
Other Current Liabilities
Building & Grounds Fund	$485
Friendly Assistance Fund	$1,000
Operating Reserve	$2,000
Solar Grant Funds	$1,209
Special Projects
Asylum Seekers Support Fund	$1,260
Blended Meeting Technology	$733
Christine / Kakamega Care Centre	$915
Mindful Mortality	$200
Social Justice Fund	$603
Woolman Hill	$500
Total Special Projects	$4,212
Total Other Current Liabilities	$0
Total Current Liabilities		$8,906
Long-term Liabilities
Mortgage Loan 1	$12,942
Replacement Reserve	$46,740
Total Long-term Liabilities		$59,682
Total Liabilities		$68,588
Total Equity		$601,125
TOTAL LIABILITIES & EQUITY			$669,713

NB. The Balance 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.

Do we have the resources to support our obligations? No

Variable Assets Less Current Liabilities and Replacement Reserve = ($691)

Current Liquidity Available
+ Total Current Assets	$35,735
+ Total NHCLF Loans	$23,123
Total Available Assets		$58,858
- Total Current Liabilities	($8,906)
- Replacement Reserve	($46,740)
- YTD Net Income	($3,903)
		($59,549)
= Net Unrestricted Funds: (if projected budget is achieved)		($691)

Notes of Finance Committee : 2021-11-08

Finance Committee Meeting Notes, 8^th of Eleventh Month 2021 [14]

Attending (all by Zoom): Chris H, Greg H, Rich K, Dave W (Recording clerk and convener)

Selection of Presiding Clerk: It was agreed that Dave Woolpert would be our committee’s Presiding Clerk
Monthly Financial Report
1. Rental income is above budgeted expectation due to steady use by Zen group
2. Maintenance is high due to ants and tree removal (some income yet to come in). The bookkeeper mentioned that the annual budgeted amount was reduced from last year, perhaps not prudently.
  (Property Committee reports that new thermostats will be paid from Replacement Reserve.)
3. The accrued interest on our loans to NHCLF [13] is updated by NHCLF each March and posted by Greg by May each year.
Risk of possible fraudulent use of deposits
On the recommendation of a Meeting member, Greg suggested someone else beside the bookkeeper receive and deposit checks to cancel the risk of the bookkeeper putting some of them into a hidden bank account controlled only by him or herself.

On further discussion it was agreed that it would be easier, and sufficiently likely to be effective, for the Treasurer (Chris) to be responsible for sending out the annual notices for tax reporting re: personal contributions to the Meeting, so that any checks not deposited into the Meeting’s bank account should be apparent to the contributor and objections could be raised.
Investing some Meeting funds into the Stock Market
We reviewed and discussed the two concerns expressed previously by Committee member:
1. Having our money invested in places that use the money for purposes that line up with Quaker values:
  1. The money we now have is being used for worthy purposes:
    1. NHCLF loans to mobile home park residents, day care centers and housing for lower-income people
    2. Bank loans to small businesses, home builders, home buyers, and other loans to individuals.
  2. We could invest some of our money with the NEYM investment pool that has been using it for years for morally supportable investments.
2. Having our longer term-needed money generating enough growth to equal or exceed the cost of living increases between now and when it is needed for Meeting capital expenses:
  1. The substantial amount of money we have in the bank, about $27,000, earns only a fraction of the cost-of-living increase over time.
  2. The loans to the NHCLF, about $23,000, are now, on average, over 3% per year, more than inflation, but that may drop as current loans mature and new loans are made at a rate likely lower than the rate on the maturing loans.
  3. Having some portion of our current bank balances, perhaps $5,000 to $10,000, invested prudently in a “socially responsible” pool such as that offered by NEYM, is worth considering
3. How much cash is needed for shorter (less than five year) upcoming repairs or replacements:
  1. Our bookkeeper suggested it would be prudent to keep at least $10,000 in the bank at any one time.
  2. We have about $4,000 a year coming available from the NHCLF loans that mature.
  3. Any investment in the NEYM investment pool could be accessed within a few months of our request.
4. It was agreed that we would raise the possibility, at our upcoming Business Meeting, of investing some of our existing bank cash in socially responsible investments in the stock market to see if there is general resistance or support.
Asylum Fund
1. The proper oversight of the Meeting-held Asylum Fund was discussed and determined to be an issue for the Meeting as a whole to decide.
2. It was agreed that Sara S would be consulted on the status of efforts to find other ways of overseeing this Fund
Provision of indoor space for First Day School
1. Rich raised a “non-seasoned” concern of his for providing children attending First Day School at our Meeting with an indoor, heated space during the COVID restriction period.
2. Several options were discussed but Rich agreed to raise it with the Meeting as a whole after which the Meeting might ask the Finance Committee to deal with it.
Next meeting – It was agreed we would meet again on January 10^th at 1:00 p.m.
This Committee Meeting was ended with appreciations for being and working with each other.

Property Committee Report for 14^th of Eleventh Month 2021 [15]

We continue to work towards acoustics solutions. We hope that we will be able to bring a firm quote on installation of ACOUSTIBuilt Seamless Ceiling System [16] in both the worship and fellowship spaces. We have preliminary estimate from the supplier but we will need firmer numbers from local installers. That is being worked on. Funds for the installed cost come from fundraising, the Meetings Replacement Reserve or both. That decision will need to be seasoned by the entire Meeting though our Finance committee might weigh in.
We agreed to have asphalt restriping among our task in the spring of 2022.
The committee is checking in to whether it would be feasible to offer use of the Meetinghouse during the week to a nonprofit serving people with disabilities. There is no follow-up information available right now. The property committee clerk will get information on this prior to December Meeting for Worship with attention to business.
We decided to replace the thermostats in both areas with ones capable of wireless communication. This allows us to know fairly quickly if we have developed a boiler fault that a member of property committee’s boiler team should go figure out. Huge thanks to Greg H for work to get these installed which turned out not to be as simple a process as originally hoped.
We have bought an inexpensive device to monitor the CO₂ level in the Meeting room. It requires connection through the internet to have it function. The committee clerk felt it would be hard to install the device software without technical help so another member of the committee with more expertise is taking that on for us. Once installed, it will make it possible to know whether our ventilation is adequate.
There was agreement in principle to allowing Oxbow Solar to install a battery backup system to power the heating and ventilation systems during a power outage. However, our insurer, Church Mutual asked their risk management team whether it would be covered and they decided to say it would not be. The reasoning has been opaque but appears to be based on our classification as a commercial building and the battery being designated as a residential battery. We will bring this back to Meeting when this issue is able to be resolved.

Outreach Committee Report

to Meeting for Business, Eleventh Month 2021

The Outreach Committee has continued working on a Mission Statement and has enumerated some broad goals. We met once since October Business Meeting (we have met 6 times since June).

We are working with Mark on a new landing page [17] for the website, which is simpler, more mobile-friendly, and attractive to newcomers and those interested in attending the first time. This does not preclude using all the amazing and wonderful content that Mark has gathered, created, and faithfully maintained, that is so useful to the Meeting.