CMM 2018-02-11
Minutes of Meeting for Worship for Business
Concord (NH) Monthly Meeting of
the Religious Society of Friends
Second Month 11, 2018
Attending: 11
2.1 The meeting opened with a reading of Numbers 35:9-15, followed by worship.
2.2 First Month 2018 Minutes: Friends approved the First Month 2018 minutes as published on the website.
2.3 Budget Committee Report: At 67% of the way through the fiscal year: income is $18,211.77 (69.73% of budget); total expenses are $15,736.18 (60.03% of budget); net income is $2,475.59. There are no unusual or unexpected items of income or expense.
2.4 Reinvesting Replacement Reserve Funds: The Meeting has $10,485.20 of the replacement reserves in the NH Community Loan Funds. $3,000 is reaching maturity in March.
Friends approved the request of Budget Committee to authorize the Treasurer to reinvest the loans coming due in March 2018 in order to extend the ladder to achieve $2,000 + interest coming due each year through March 2018.
2.5 Extending Investment Ladder: Friends also approved the request of Budget Committee to authorize the Treasurer to invest an additional $10,000 to extend this ladder through March 2028.
2.6 Property Acquisition Celebration: Donna San Antonio, former head of the AMTP, suggested holding the celebration of the Meeting’s acquisition of the property and to honor the Booths be held later in the year when the weather is nice to be outside.
2.7 Loan to Manchester UU Church: The Unitarian Universalist Church of Manchester has pledged to be a Level 1 Sanctuary for immigrants who are about to be deported. They are currently raising funds to add a shower to the church. Friends authorized the clerk to offer a loan of up to $1,000 from the Social Justice Fund to the Manchester UU Church for a term of up to one year.
The meeting closed with worship.
| Submitted by, | Accepted as the Approved Record, | |
 |
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| /s/ Jonie LaBombard, Recording Clerk | /s/ Mark Barker, Presiding Co-Clerk |
| Concord Monthly Meeting Income & Expenses | 2017-06 — 2018-01 | FY 2018 Budget | Remaining | % Budget |
|---|---|---|---|---|
| Income | ||||
| Contributions | $17,484 | $25,196 | ($7,712) | 69% |
| Interest Income | $2 | $220 | ($218) | 1% |
| Miscellaneous Income | - | - | - | |
| Rental Income | $726 | $800 | ($74) | 91% |
| Total Income | $18,212 | $26,216 | ($8,004) | 69% |
| Expenses | ||||
| Program | ||||
| Budget Committee | $10 | $20 | ($20) | 50% |
| Hospitality | $62 | $180 | ($118) | 35% |
| Library | - | $80 | ($80) | |
| Ministry & Counsel | $40 | $175 | ($135) | 23% |
| Outreach | ||||
| Website Expenses | - | $240 | ($240) | |
| Outreach - Other | $187 | $260 | ($73) | 72% |
| Total Outreach | $187 | $500 | ($313) | 37% |
| Peace, Social & Earthcare Concerns | $215 | $450 | ($235) | 48% |
| Youth & Religious Education | $33 | $300 | ($267) | 11% |
| Total Program | $548 | $1,705 | ($1,157) | 32% |
| Property | ||||
| Building Maintenance | $425 | $600 | ($175) | 71% |
| Debt Service | $2,855 | $3,806 | ($951) | 75% |
| Donation in Lieu of Taxes | $300 | $300 | - | 100% |
| Electricity | $749 | $1,000 | ($251) | 75% |
| Grounds | $50 | $100 | ($50) | 50% |
| Insurance | $1,076 | $1,700 | ($624) | 63% |
| Replacement Reserve Expense | $3,608 | $5,411 | ($1,803) | 67% |
| Snow Removal | $645 | $2,000 | ($1,355) | 32% |
| Supplies - Bldg. & Maintenance | $75 | $185 | ($110) | 41% |
| Wood Pellets | $1,044 | $1,300 | ($256) | 80% |
| Total Property | $10,827 | $16,402 | ($5,575) | 66% |
| Support | ||||
| AFSC | $736 | $1,457 | ($721) | 51% |
| Dover Quarterly Meeting | - | $10 | ($10) | |
| FCNL | - | $131 | ($131) | |
| Friends Camp | - | $270 | ($270) | |
| FWCC | - | $57 | ($57) | |
| Interfaith Council | $50 | $50 | 100% | |
| NEYM - Equalization Fund | $260 | $260 | 100% | |
| NEYM - General Fund | $3,215 | $5,516 | ($2,301) | 58% |
| NHCADP * | $100 | $100 | 100% | |
| NH Council of Churches | - | $50 | ($50) | |
| Woolman Hill | - | $208 | ($208) | |
| Total Support | $4,361 | $8,109 | ($3,748) | 54% |
| Total Expense | $15,736 | $26,216 | ($10,480) | 60% |
| Net Income | $2,476 | ($2,476) |
* added to Budget for Fiscal 2018; see Minute 2018.1.3
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 Balance Sheet | 1st Month 31, 2018 | ||
|---|---|---|---|
| ASSETS | |||
| Current Assets | |||
| Checking/Savings | |||
| Checking 123410166 | $9,596 | ||
| Money Market 101049498 | $22,580 | ||
| Total Checking/Savings | $32,176 | ||
| Other Current Assets | |||
| Prepaid Insurance | $1,579 | ||
| Total Other Current Assets | $1,579 | ||
| Total Current Assets | $33,756 | ||
| Fixed Assets | |||
| Building | $466,455 | ||
| Land | $50,000 | ||
| Total Fixed Assets | $516,455 | ||
| Other Assets | |||
| New Hampshire Community Loan Fund | |||
| NHCLF 2018 1% L-01398 * | $1,000 | ||
| NHCLF 2018 2% L-01399 * | $2,103 | ||
| NHCLF 2019 2% L-01623 | $1,062 | ||
| NHCLF 2019 3% L-01400 | $1,094 | ||
| NHCLF 2020 2% L-01396 | $1,041 | ||
| NHCLF 2020 3% L-01496 | $1,062 | ||
| NHCLF 2021 2% L-01733 | $1,103 | ||
| NHCLF 2022 3% L-01622 | $2,020 | ||
| Total Other Assets | $10,485 | ||
| TOTAL ASSETS | $560,696 | ||
| LIABILITIES & EQUITY | |||
| Liabilities | |||
| Current Liabilities | |||
| Building & Grounds Fund | $525 | ||
| Friendly Assistance Fund | $1,000 | ||
| Operating Reserve | $3,000 | ||
| Solar Grant Funds | $1,225 | ||
| Special Projects | |||
| Kakamega (Kenya) Orphanage | $841 | ||
| Social Justice Fund | $1,800 | ||
| Total Special Projects | $2,641 | ||
| Total Current Liabilities | $8,391 | ||
| Long-term Liabilities | |||
| Mortgage Loan 1 | $24,332 | ||
| Replacement Reserve | $29,105 | ||
| Total Long-term Liabilities | $53,436 | ||
| Total Liabilities | $61,827 | ||
| Equity | |||
| Total Equity | $498,868 | ||
| TOTAL LIABILITIES & EQUITY | $560,696 |
Do we have the resources to support our obligations? YES
Variable Assets Less Current Liabilties and Replacement Reserve = $6,745
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.
| Total Current Assets | $33,756 |
| Total NHCLF Loans | $10,485 |
| - Total Current Liabilities | ($8,391) |
| - Replacement Reserve | ($29,105) |
| Total Available: | $6,745 |
