ST. THERESA PARISH

FINANCE COUNCIL MEETING

October 8, 2009

Fr. Larry Hoffmann Paul Galloway

John McMichael Bob Wrobel

Tom Hueholt Don O’Neill

Paul Johnson Margie Pope

Kevin Olsen Jim Langeness

Ed Downey Ellen Stemler

Bob Wrobel called the meeting to order at 5:30 PM. We opened with a prayer from the Our Journey of Faith pamphlet for October – Scripture: Old and New Covenants. We read and discussed the article on the Old Testament’s relation to the New Testament.

Roll Call - Don O’Neil was absent.

The minutes from the September meeting were corrected to show the number of students from 134 to 334 and then approved.

ANNUAL DIOCESAN APPEAL

Our total pledges have dropped from $155,471 to $153,581. We have $4,201 outstanding toward our goal of $142,249. Letters will be mailed to the people with balances sometime in November or December.

SCHOOL ISSUES

The committee is meeting every week and going through the bills. They check the balance on statements and recalculate any ACH errors. They put hand written notes on the statements.

It was discovered part of the billing problems were due to the Hunter system having a $400 max……this has been reset to allow larger deductions.

Out of 197 bills to review, there are approximately 20 left to process……it was noted there weren’t as many errors as anticipated.

It was mentioned Sue Tingleff has been a welcome and effective addition to help John with the Hunter system in compiling information and setting up reports. The reports being developed will show the list of families and tie in tuition charges and payments with other costs (i.e. band) and assistance payments (i.e. CTO).

The committee mentioned she has been very helpful and keeps them focused.

Bob advised they are moving ahead slowly and accurately.

FINANCIALS

John advised income is down $6,300. Tithing is under budget by $7,000, budget is $232,800 and actual is $225,900. The August budget was $72, 200 and actual was $72,500. Last year at this time we were at $227,200 and this year we’re at $225,900.

The plate collection is over budget by $1,000.

We are $17,000 under budget for expenses and $6,000 under last year’s actual, however, our insurance premium payment will eat up this difference.

Pre-K payments are made in November and April so we should be receiving $40,000 in November. The first half of the CTO disbursement should be mailed this week in the amount of $28,630 and the second half the end of December. The Council is hopeful we will receive the full reimbursement and not be effected by the State of Iowa’s 10% budget cut.

John will reclassify the $32,000 in designated donations to School Committees.

The expense side of the budget will be adjusted to more accurately reflect teacher’s salaries. We have more students which require additional personnel. They will also adjust the income side for the extra students.

Bob and Ellen are going to work on finalizing the school portion of the budget on Monday.

Ellen mentioned we will have some pass through items where we have the expense first then receive the reimbursement: 2 sets of doors repaired $2,100 – Microsoft settlement $5,878.

We closed the meeting with A Prayer for Reverence of Life.

The meeting was adjourned at 7:00 PM.

Respectfully submitted,

Margie Pope