Support Ministry Team minutes

 

Last meeting: Aug. 12, 2008

 

Attendees:

Jeff Diehl

Don Monson

Brenda Smongeski

Walt Rugland

John Zweig

 

Excused:

Mike Lokensgard

Diane Putzer

 

Items that may require council action:

 

  • FELC Trust Fund Continuing Resolution – recommend approval

 

  • FELC Trust Investment and Management Protocols – recommend approval

 

Other important items of information:

 

  • FELC financial review: Giving is behind 2007 by 2.7 percent. Our revenues through July are short of our budgeted goals by approximately 6.8 percent, thus our financial statement is showing a deficit. Emphasis must be made to the congregation to meet their pledges to sustain our programs. Ministry teams must make sure they are in line with their budgets.

 

    • In July, 12 people signed up for Simply Giving. Stewardship, along with Jan Sommerfeld and Brenda Smongeski, has been working to emphasize this method of allowing members to simplify their giving. We thank them for their efforts.

 

  • Support financial review: We reviewed and discussed the Support Ministry Team’s expenditures. We are currently only performing essential maintenance and upkeep.  As reported previously, any remodeling and modernization expenses will need to wait for improved financials for the church or next year.  The water and sewer project at the North Site is on hold, pending a resolution of costs for attaching to the city system.

 

  • Physical Security Policy/Procedure remains a work in progress.

 

  • The ministry team previously approved a new format for quarterly reporting of revenue and expenses for the church.  The programming will be accomplished to facilitate this report.

 

 

  • The ministry team in June reviewed several documents prepared by Walt Rugland to address issues related the FELC trust. This past year he had conversations with the FELC Trust trustees to discuss their concerns. It is the intent to remove Memorial and Designated Gift Funds from the Trust to allow management by the Council. The Trust will oversee only the Trust Fund. Walt Rugland met with the FELC Trust to review all of the proposed changes and minor changes resulted. These documents are a result of these discussions:

 

    • Attached is a copy of the accounting of the Perpetual Endowment Funds in the FELC Trust Fund.

 

    • In accordance with the bylaws, a new Continuing Resolution of the Congregation Council is proposed to govern the FELC trust. It covers the trust’s authority, the requirements for Council coordination and action, delegated authority, admonishments, the spending plan and the accountability. The ministry team approved the draft resolution and recommends Council approval.

 

    • The ministry team reviewed a draft FELC Trust Investment and Management Protocols. These supplement the continuing resolution to govern actions by the Trust. The ministry team recommends approval.

 

    • The ministry team reviewed a draft Trust Investment Policy Statement and Guidelines. The ministry approved this policy statement and guidelines consistent with the Support Ministry Team’s financial oversight role.

 

    • The ministry team then reviewed and approved a new Gift Policy to align gifts to the church to the revised operation of the Trust. (See attached)

 

Submitted by:

John Zweig