CMM 2013-11-10
Minutes of Meeting for Worship for Business
Concord (NH) Monthly Meeting of the Religious Society of Friends
Eleventh Month 10, 2013
Attendance: 6
11.1 The meeting opened with a period of silent worship.
11.2 Tenth Month Minutes: Friends approved the minutes with the following corrections:
- 10.2 …When asked if the money would come from the budget or individuals, Sara said that this kind of donation doesn’t fit as a current line item in the budget…
- 10.2 …if they didn’t reach the $200 goal, then the Meeting would make up the difference.
- 10.3 …for net income through September of $588.91
11.3 Financial Report: Treasurer David Woolpert presented the budget report. We are 42% through our fiscal year, with income of $7,832 (32%), expenses of $7,066 (29%), and net income of $765. Property expenses are low but winter budget items have yet to be paid for. We have $6,109 in unrestricted cash for the meeting to do with as it should decide. Friends accepted the Budget Report of October 31st, 2013.
11.4 NH Community Loan Fund: It was suggested that the Budget Committee look into loaning some of our unallocated funds to the NH Community Loan Fund. Friends approved sending this action item to the Budget Committee to bring back to meeting for business.
11.5 Kakamega Care Centre Student Sponsorship: Friends discussed the request from the Youth Religious Education Committee for the First Day School (FDS) children to sponsor an orphan at the Kakamega (Kenya) orphanage. This would require a commitment from the Meeting of $300/year until the child finishes eighth grade. The committee is requesting the support of the meeting for the FDS children in their future fundraising efforts. Friends approved.
11.6 Youth Religious Education Expenses: Friends approved adding $300 to the miscellaneous sales income line and to the YRE Committee expense line. The actual amount would be itemized on the Balance Sheet as a separate item to facilitate record keeping.
11.7 The meeting closed with a period of grateful silence.
Submitted by
Recording Clerk, Jone LaBombard
Presiding Clerk, Ruth Mobilia Heath
| Concord Monthly Meeting Income & Expenses | 2013-06 — 2013-10 | FY 2014 Budget | Remaining | % Budget |
|---|---|---|---|---|
| Income | ||||
| Contributions | $7,020 | $21,480 | ($14,460) | 33% |
| Interest Income | $1 | $3 | ($2) | 21% |
| Miscellaneous Income | $481 | $200 | $281 | 240% |
| Prior Year Funds | $0 | $1,800 | ($1,800) | 0% |
| Rental Income | $330 | $700 | ($370) | 47% |
| Total Income | $7,832 | $24,183 | ($16,351) | 32% |
| Expenses | ||||
| Program | ||||
| Budget Committee | $13 | $50 | ($37) | 26% |
| Hospitality / Outreach | $25 | $150 | ($125) | 17% |
| Library | $0 | $50 | ($50) | 0% |
| Ministry & Counsel | $248 | $300 | ($52) | 83% |
| Peace, Social, & Earthcare Concerns | $0 | $100 | ($100) | 0% |
| Youth & Religious Education | $102 | $375 | ($273) | 27% |
| Total Program | $387 | $1,025 | ($638) | 38% |
| 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 | $405 | $1,200 | ($795) | 43% |
| Grounds | $1 | $100 | ($99) | 1% |
| Insurance | $715 | $1,816 | ($1,101) | 39% |
| Rent Expense | $0 | $0 | ($0) | 0% |
| Replacement Reserve Expense | $2,083 | $5,000 | ($2,917) | 39% |
| Snow Removal | $0 | $1,400 | ($1,400) | 0% |
| Supplies - Bldg. & Maintenance | $44 | $400 | ($356) | 11% |
| Telephone | $176 | $400 | ($224) | 44% |
| Wood Pellets | $0 | $1,200 | ($1,200) | 0% |
| Total Property | $5,327 | $15,872 | ($10,545) | 34% |
| 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 | $7,066 | $24,183 | ($17,117) | 29% |
| Net Income | $765 | $0 | ($765) | 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 | 10th Month 31, 2014 | ||
|---|---|---|---|
| ASSETS | |||
| Current Assets | |||
| Checking/Savings | |||
| Checking 123410166 | $15,534.94 | ||
| Money Market 101049498 | $1,577.45 | ||
| Total Checking/Savings | $17,112.39 | ||
| Other Current Assets | |||
| Prepaid Insurance | $286.20 | ||
| Total Checking/Savings | $286.20 | ||
| Total Current Assets | $17,398.59 | ||
| Fixed Assets | |||
| Building | $466,454.97 | ||
| Land | $50,000.00 | ||
| Total Fixed Assets | $516,454.97 | ||
| TOTAL ASSETS | $533,853.56 | ||
| LIABILITIES & EQUITY | |||
| Liabilities | |||
| Current Liabilities | |||
| Construction Projects | $206.51 | ||
| Operating Reserve | $3,000.00 | ||
| Total Current Liabilities | $3,206.51 | ||
| Long-term Liabilities | |||
| Mortgage Loan 1 | $33,668.05 | ||
| Replacement Reserve | $8,083.30 | ||
| Total Long-term Liabilities | $41,751.35 | ||
| Total Liabilities | $44,957.86 | ||
| Equity | |||
| General Fund Balance | $457,374.84 | ||
| Unrestricted Net Assets | $30,755.46 | ||
| Net Income | $765.40 | ||
| Total Equity | $488,895.70 | ||
| TOTAL LIABILITIES & EQUITY | $533,853.56 |
Do we have the resources to support our obligations? YES
| Total Current Assets | $17,399 |
| - Total Current Liabilities | ($3,207) |
| - Replacement Reserve | ($8,083) |
| Total Unrestricted Cash | $6,109 |
