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 [1], followed by worship.

2.2 First Month 2018 Minutes [2]: 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]. $3,000 is reaching maturity in March.

Friends approved the request of Budget Committee [4] 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 [4] 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 [5] 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 [6] has pledged to be a Level 1 Sanctuary for immigrants who are about to be deported. They are currently raising funds [7] 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,
		[8]
/s/ Jonie LaBombard, Recording Clerk		/s/ Mark Barker, Presiding Co-Clerk

Concord Monthly Meeting

Income and Expenses, Balance Sheet, and Current Liquidity as of First Month 31, 2018 [9]

(66⅔% of Fiscal Year)
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 [10]	$736	$1,457	($721)	51%
Dover Quarterly Meeting	-	$10	($10)
FCNL [11]	-	$131	($131)
Friends Camp [12]	-	$270	($270)
FWCC [13]	-	$57	($57)
Interfaith Council [14]	$50	$50		100%
NEYM [15] - Equalization Fund	$260	$260		100%
NEYM - General Fund	$3,215	$5,516	($2,301)	58%
NHCADP [16] *	$100	$100		100%
NH Council of Churches [17]	-	$50	($50)
Woolman Hill [18]	-	$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 [19]

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 FY 2018

Accrual Basis Balance Sheet as of First Month 31, 2018 [9]
Concord Monthly Meeting Balance Sheet	1^st 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.

Current Liquidity Available
Total Current Assets	$33,756
Total NHCLF Loans	$10,485
- Total Current Liabilities	($8,391)
- Replacement Reserve	($29,105)
Total Available:	$6,745

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