CMM 2014-07-13

Minutes of Meeting for Worship for Business

Concord (NH) Monthly Meeting of the Religious Society of Friends

Seventh Month 13, 2014

Attending:  12

7.1  The meeting opened with a period of worship.

7.2  Welcoming Return:  The Meeting welcomed the return of our sojourning member Richard Kleinschmidt with open hearts and arms.

7.3  Sixth Month Minutes:  Correction to Minute 2014.6.7:  For the fiscal year ending May 31st, 2014, our total income is…

7.4  Budget Committee Report:  For the period of June 1st– June 30th, the first month of the fiscal year June 2014—May 2015 our total income is $2,502, total expense is $377, and net income is $2,125.  We have received 10% of our income and spent 2% of our budgeted expenses.

It was suggested that the financial report include last year's actual figures for the comparable period.  If lines that have no budgeted amount or expenses are not included in the financial report then the font could be larger.  Budget Committee will consider this.

7.5  Nominating Committee Report:  The committee recommends that Richard Kleinschmidt be appointed to Ministry and Counsel Committee.  Friends approved wholeheartedly.

7.6  NEYM Annual Sessions Representation:  Friends approved the appointment of Mark and Virginia Barker and Jay Smith as representatives to New England Yearly Meeting sessions in August 2014.

7.7  Outreach and Cookbook:  Friends discussed developing a gluten free and vegetarian cookbook to be sold as a fundraiser, and possibly having a booth at the 2015 Canterbury Fair for outreach and to sell gluten free foods and the cookbook.  Greg Heath and Kathy Urie are willing to help Sara Smith and Ruth Heath with this project.  It was suggested that the committee consider making the cookbook available for Christmas gift-giving.  Friends approved.

7.8  AFSC-NH Program Fundraiser:  AFSC-NH has requested that the Meeting consider sponsoring its fall fundraising dinner, and so be listed as a sponsor in the program.  Friends approved setting up a special collection for this purpose and directing Ministry and Counsel decide how to use those funds as a sponsorship and/or ad in the program.  Contributions or pledges for this should be made before July 31st.

Friends recommended that the Budget Committee consider including this as part of next year's budget.

7.9 The meeting closed with a period of grateful worship.

Submitted by,

/s/ Jonie LaBombard, Recording Clerk

/s/ Ruth Heath, Presiding Co-Clerk


Concord Friends Meeting

Income Expense - Budget vs. Actual

6th Month 1, 2014 - 6th Month 30, 2014
  Actuals for Annual Actuals Compared With:
6/1/2014— 6/30/2014 Budget Annual Budget % of Budget
INCOME
Contributions 2,402 24,228 -21,826 10%
Interest Income 0 75 -75 0%
Miscellaneous Income 0 200 -200 0%
Prior Year Funds 0 0 0 0%
Rental Income 100 800 -700 13%
Uncatagorized Income 0 0 0 0%
TOTAL INCOME 2,502 25,303 -22,801 10%
EXPENSE
Program
Budget Committee 0 50 -50 0%
Hospitality / Outreach 0 150 -150 0%
Library 0 0 0 0%
Ministry and Counsel Committee 0 50 -50 0%
Peace & Social Concerns Committee 0 50 -50 0%
Workshop (net) 0 0 0 0%
Youth & Religious Education Committee 0 300 -300 0%
Program - Other 0 0 0 0%
Total Program 0 600 -600 0%
Property
Building Maintenance 0 250 -250 0%
Building Wood Heat Upgrade 0 0 0 0%
Debt Service 0 3,806 -3,806 0%
Donation in lieu of taxes 0 300 -300 0%
Electricity 97 1,300 1,203 7%
Furnishings 0 0 0 0%
Grounds 100 100 0 100%
Insurance 0 1,916 -1,916 0%
Rent Expense 0 0 0 0%
Replacement Reserve Expense 0 5,075 -5,075 0%
Snow Removal 0 1,900 -1,900 0%
Supplies - Building & Maintenance 50 400 -350 13%
Telephone 60 430 -370 14%
Wood Pellets 0 1,300 -1,300 0%
Property - Other 0 0 0 0%
Total Property 307 16,777 -16,470 2%
Support
AFSC 0 1,300 1,300 0%
Dover Quarterly Meeting 0 10 -10 0%
FCNL 0 120 -120 0%
Friends Camp 0 253 -253 0%
FWCC 0 53 -53 0%
Interfaith Council 0 50 -50 0%
NEYM - Equalization Fund 0 500 -500 0%
NEYM - General Fund 0 5,000 -5,000 0%
NH Council of Churches 0 50 -50 0%
The Meeting School 0 0 0 0%
Support - Other 0 0 0 0%
Total Support 0 7,336 -7,336 0%
Other
Advertising 70 140 -70 50%
Miscellaneous Expenses 0 50 -50 0%
Other - Other 0 0 0 0%
Total Other 70 190 -120 37%
TOTAL EXPENSE 377 24,903 -24,256 2%
NET INCOME 2,125 400 1,725

Concord Monthly Meeting FY 2015

Accrual Basis Balance Sheet as of Sixth Month 30, 2014
Concord Monthly Meeting Balance Sheet 6th Month 30, 2014    
ASSETS
Current Assets
Checking/Savings
Checking 123410166 $10,538
Money Market 101049498 $1,577
Total Checking/Savings $12,116
Other Current Assets
Prepaid Insurance $1,105
Total Other Current Assets $1,105
Total Current Assets   $13,221
Fixed Assets
Building $466,455
Land $50,000
Total Fixed Assets   $516,455
Other Assets
NH Community Loan Fund 15 $1,000
NH Community Loan Fund 16 $1,000
NH Community Loan Fund 17 $1,000
NH Community Loan Fund 18 $1,000
NH Community Loan Fund 19 $1,000
Total Fixed Assets   $5,000
TOTAL ASSETS     $534,676
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Construction Projects $139
Operating Reserve $3,000
Special Projects
Kakamega (Kenya) Orphanage $196)
Total Special Projects $196
Total Current Liabilities   $3,335
Long-term Liabilities
Mortgage Loan 1 $31,505
Replacement Reserve $11,000
Total Long-term Liabilities   $42,505
Total Liabilities     $45,840
Equity
General Fund Balance $457,375
Unrestricted Net Assets $30,799
Net Income $662
Total Equity   $488,835
TOTAL LIABILITIES & EQUITY     $534,676

Do we have the resources to support our obligations? YES

Variable Assets Less Current Liabilties and Replacement Reserve = $3,885

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.


Current Liquidity Available
Total Current Assets $13,221
Total NHCL Loans $5,000
- Total Current Liabilities ($3,335)
- Replacement Reserve ($11,000)
Total Available: $3,885