SOTH Council Monthly Committee Report

Committee Name

Treasurer

Report Date

02-16-2020

Items Discussed

January expenses in the General Fund exceeded income by about 4K.
Please note that Synod Contributions ($709) is considerably below our average contribution last year of $1000 in a month where income should be considerably above average.

Income in the general fund for January was about 9K below budget, and expenses were about 5k below budget.

There was no meeting of the Finance Committee this month.

Recommendations/Action

As this is my last Treasurer’s report, I am making a few recommendations which I think the council should consider this year:
1. Moving the cell tower income back into the general fund, as the Capital Fund now has enough funds to pay for new air conditioners, as well as maintaining a substantial residual for major building repairs.
2. Council needs to decide the future of the Building Fund and Capital Funds — continue, eliminate, combine, etc.?
3. Watch the new policy of contributing 5 be on income from the general fund or from all income?
4. Note that a contribution of $1,000 deposited in the IT Designated fund is to be used to offset increased costs of the color copier.
5. Monthly income in the general fund has been trending lower. Much of this will be offset by no building fund expenses; however, this trend should be monitored carefully. A large contribution has been received in April the past few years; hopefully, this will occur again this year as the contribution is about 25% of total yearly income.

Implementation

I have updated the recipients of this report to members of the new council. New members, please confirm to me that you have received this report so I can validate that I have used correct email addresses.