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Finance and Facilities (F&F) Board Meeting October 8, 2019 Present: Bill Carney, Bill Bittenbender, Jim Belvin, Bob Fuchs, Fr. Eric Mills, Don Halbert, Tommy Harrelson, Bryan WesterFollowing a prayer by Fr. Eric, the following items were discussed and/or decided: The September minutes had been previously approved via email. They are posted on the website.Tommy Harrelson, Stewardship Chair for 2020, discussed the upcoming campaign. Letters from the Rector and the Sr. warden have been sent to the parish. Tommy’s letter will go out next week. It was suggested that the letter address opportunities for on-line banking, Stock donations and potential tax benefits from donations from IRAs. Three individuals will speak to stewardship over the next three Sundays, leading up to in-gathering Sunday on All Saints day, November 3.A request was made to find the “I pledge electronically” cards that were available for placement in the offering baskets and make them available again.Margaret Bearden provided a written summary of our investment yields. The current yield on the Federal Money Market Fund is 1.91%. The YTD return on the Balanced Index Fund is 14.9%. No changes are currently anticipated.Bob Fuchs’ Treasurer’s report had been emailed to Board members before the meeting. Identified offerings continue to be less than budgeted. Revenues are approximately $35,000 below budget, and expenses are approximately $54,000 below budget. No significant issues were raised regarding the 2019 budget. The first pass of the 2020 budget was discussed in detail. Several new rollups and GL accounts were discussed and agreed to. It was agreed that if a proposed 2020 GL account is >$500 and >20% over the projected 2019 spend, a brief explanation would be requested from the GL account owner. Bob will identify the GL accounts and send out the requests for justification. It was agreed that the Rector’s discretionary fund would be maintained at $5000 going forward and that budgeted replenishment will only be moved when the account falls below that threshold. B&G and the Sr. Warden will provide a target number for our maintenance reserve, and it will be maintained at that level for 2020.A motion was made, seconded and passed changing the people authorized to initiate and approve transactions in St. Philip’s investment accounts to Bob Fuchs and Margaret Bearden.?Fr. Eric proposed an amendment to the Gift Policy to accommodate donations of material items to be used in Ministry. Appropriate wording will be proposed, circulated and voted on for approval at the next F&F Board Meeting.Bill Bittenbender provide an update regarding hurricane restoration. The Narthex and Sanctuary are essentially finished. The Chapel cross-beams have been installed. Electrical work and insulation are scheduled for the week of the 14th, followed by sprinklers and reconstruction of the walls and ceilings. The plan is to re-open the Chapel by Christmas or shortly thereafter.Fr. Eric discussed protocols for internal and external communications from St. Philips Boards. All internal communications must go to Lorraine through the appropriate Board communicator. All external communications must go to Janet Fox through the appropriate Board communicator.Jim Belvin will present concepts for changes to the Columbarium at the December F&F Meeting. Recommendations for a new communicator for the F&F Board are being sought.Our next meeting is scheduled for November 12 at 11:00AM. The meeting was adjourned at 1:00 pm.Fr. Eric offered the closing prayer. ................
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