St. Joseph the Worker
Finance Committee Meeting
Friday May 16, 2008

Members Present: Ron Gansen, Nancy Ehrlich, Vonda Hosch, Bryan Pechous, Jeff Gonner, Fr. Mark, Mark Molo, Kim Kunkel, Kevin Schmitt, Jerry Schroeder,
Absent: Kurt Wedewer
Guest: Nancy Van Milligan

Fr. Mark led the opening prayer at 7:00AM

Correction to the April minutes of Kim Kunkel name not Keuter. Motion to approve was made by Kevin, approved.

The new parish Mission and Vision statements have been accepted and will be implemented in the upcoming months.
A copy of each is in the finance binder. The Vision statement will be discussed during monthly meetings this will help develop a deeper understanding of the Mission and Vision statements. Goals and objectives will be formed and implemented by the staff and parish committees.

Vonda Hosch will have completed her term on the Finance committee as of June 30th and offered her resignation. Jerry, Mark and Jeff agreed to another year; however, Jeff will step down as chair. Kevin Schmitt has agreed to take that position. Ron and Kim will be continuing with their third year. Thank you to everyone for sharing your time and talent on the finance committee. There will be recruitment for another member. Please, let Fr. Mark know of any parishioners you feel might be interested in volunteering for this parish committee.

The April balance sheet reflects a comparison of the current and previous year's assets and liabilities. The Central Endowment account reflects a 5.44% loss during the past six months of $114,603.20. This still is an increase of 2.2% during the last year and a 10.6% growth, since January 1, 1998 when the fund was established. During the month of April $6,077.69 was transferred to the Archdiocese for the 3-In-1 spring collection ($4786.00) Rice Bowl ($694.36) and Holy Land ($557.33) and Religious Retirement ($40.00).

During the month of April $80,191.25 was received from Sunday adult contributions. Year to date income from all Sunday sources is $832,948.22, which is $46,641.37 more than last year for the same time. Third quarter scrip profits were $2,740.30. Expenses of $1,099,484.88 continue to be less than budget by $83,438.56. Year to date expenses of $1,099,484.88 exceed income of $1,029,850.34 by $69,634.54.

Nancy Van Milligan representative of the Community Foundation of Greater Dubuque was a guest speaker. The Community Foundation is another avenue for non profit organizations to establish a specific type of Endowment fund and still earn income. Utilizing this organization would be another tool for the parish to benefit from charitable donations. This organization provides an opportunity to donate with tax advantages for individuals, through both tax savings and credits on Federal and State income taxes.
$10,000 establishes an Endowment Fund, with an average of 5% return on the investment using a three year average on growth. Administrative and investment fees are 1.35% quarterly. There will be further discussion on where the $10,000 should come from. The consensus of the finance committee is that this is a program that would benefit the parish. One of the ideas was to fundraise the first $10,000 rather than take it from our current investments. Kevin will ask Mrs. Van Milligan if it is possible to have a parishioner set up this fund for St. Joseph the Worker. This item will be put on next month's agenda.

The next Finance meeting is Friday, June 20, 2008 at 7:00AM.
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Friday March 14, 2008

Members Present: Bryan Pechous Ron Gansen Nancy Ehrlich Jeff Gonner, Jerry Schroeder Fr. Mark
Kim Kunkel Kurt Wedewer Kevin Schmitt

Absent: Vonda Hosch Mark Molo

Fr. Mark led the opening prayer at 7:00AM

Jeff introduced and welcomed Kurt Wedewer as the newest member of the Finance Committee. Kurt works as a financial planner at American Trust Bank. Kurt and his wife Sara have three children and who have been members of St. Joseph the Worker since 1997. Welcome, Kurt.

The February minutes were approved as written.

Nancy presented the February financial numbers. Sunday adult budget income for February was positive by $4,999.91. Sunday sources year to date income for the same time frame last year is $40,983.37 more. Year to date income from all sources total $821,962.68 which is $47,506.58 more than last year. Expenses year to date are $881,776.45 exceeding income year to date by $59,813.77.
The Endowment allocation for the 2nd half of fiscal 2007-2008 is $69,237.00.
Parish Improvements expenses are for repairs to the cafeteria.

The 2008-2009 fiscal budgets 2ndt draft was presented with an estimated deficit of $202,881. The two largest expenses are the Holy Family assessment and payroll and benefits for staff. The cost of living is in a range of 4.1 to 5%. The Buildings and Ground budget five year plan has established a budget of $103,200 for fiscal year 2008-2009 which is part of the total deficit above. One of the main Buildings and Grounds budgeted is a new boiler for the church. A motion was made by Kevin and Bryan to add $9,000 to the budget to replace the upper driveway, which has deteriorated this past winter. The budget was approved by finance to be presented to the Pastoral Council for final approval. The committee suggested that someone address the budget deficit with the parishioners prior to July 1st. Jeff volunteered to do that when the final numbers are approved by both finance and the pastoral council.

There was a discussion on having a Commitment Sunday. This suggestion will be part of the Stewardship program after the goals and objectives for the parish have been established.

Jackie Witter will be here on March 28 and March 29 for the "goals and objectives" session of the pastoral planning. There will also be a final review of the Mission and Vision Statements.
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The next Finance meeting is Friday, April 18, 2008 at 7:00AM.
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St. Joseph the Worker
Finance Committee Meeting
Friday February 22, 2008

Members Present: Bryan Pechous, Ron Gansen, Nancy Ehrlich, Jeff Gonner, Jerry Schroeder, Fr. Mark, Kim Kunkel, Mark Molo, Kevin Schmitt

Absent: Vonda Hosch

Fr. Mark led the opening prayer at 7:00AM

The January minutes were approved with notation of date change for the February meeting.

Nancy presented the January financial numbers. Sunday adult budget income was positive by $2,145.23. Year to date income for the same time frame last year is $28, 783.75 more. All sources of income total $744,911.49 which is $35,874 more than last year. Expenses year to date are $762,378.59 exceeding income year to date by $17,467.10
The Endowment allocation for the 2nd half of fiscal 2007-2008 is $69,237.00.
Parish Improvements expenses include nine new round tables to be used for parish events and the purchasing of a tractor cab cover and a new snow broom.

The 2008-2009 fiscal budgets 1st draft was presented with an estimated deficit of $203,181. The two largest expenses are the Holy Family assessment and payroll for staff. The cost of living is in a range of 4.1 to 5%. The Buildings and Ground budget five year plan has established a budget of $103,200 for fiscal year 2008-2009 which is part of the total deficit above. One of the main Buildings and Grounds budgeted is a new boiler for the church. The committee suggested that someone address the budget deficit with the parishioners prior to July 1st. Jeff volunteered to do that when the final numbers are approved by both finance and the pastoral council.

Adult budget was based on contributions through January; Kevin requested that the next draft include February with approval in March by both Finance and Pastoral Council.

Kurt Wedewer has accepted the invitation to become a member of the Finance Committee.

Jackie Witter will be here on March 28 and March 29 for the wrap up session of the pastoral planning. The Vision and Mission statements will be presented to the parishioners after Mass the weekend of February 23/24.
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The next Finance meeting is Friday, March 14, 2008 at 7:00AM.
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St. Joseph the Worker
Finance Committee Meeting
Friday January 11, 2008

Members Present: Bryan Pechous, Ron Gansen, Nancy Ehrlich, Jeff Gonner, Jerry Schroeder, Fr. Mark Ressler, Kim Kunke, Mark Molo

Absent: Vonda Hosch, Kevin Schmitt

Guest: Dave Tschiggfrie

Fr. Mark led the opening prayer at 7:00AM

Dave presented everyone with a handout pertaining to Adult Faith opportunities being sponsored by the Adult Faith Committee. One of the workshops is Called and Gifted-Discerning Charisms: Living the Mission. Dave explained that each of us has charisms-God given gifts. First, we must learn to understand each gift and then be willing to use them for the good of others and our Church. During the past 18 months a group of parishioners have participated in training sessions on helping to discern our gifts. On Wednesday, January 30 and Saturday, February 2 they will share the tools they have learned to help each of us do an inventory checklist of our gifts. There will be a one on one follow-up with trainers,

The December minutes were approved as written.

Cindy Pfiffner extended an invitation to all new parishioners. Four times a year there will be new parishioner gatherings on donut Sundays. All committees are requested to have a representative at the monthly Donut Sunday. This will give the new parishioners a chance to meet other parish members and give them the opportunity to meet members of the various committees who are in need of new members.

Jackie Witter will be here on March 28 and March 29 for the wrap up session of the pastoral planning. The Vision and Mission statements will be presented to the parishioners after Mass the weekend of February 23/24.

The month of December reflected the interest earned on savings accounts held at the Archdiocese Deposit and Loan. Income received during December was $161,196.50 ($37,333.72 for Christmas) exceeding expenses of $108,003.69 by $53,192.81. Year to date the Income of $666,480.21 exceeded year to date expenses of $651,653.36 by $14,826.85.

Third quarter Heartland dividends were $3,000/ .10 a share.

The staff and various committees will start work on the 2008-2009 budgets in early January. The goal is to have final approval at the March finance meeting.

The next Finance meeting is Friday, February 15th, 2008 at 7:00AM.
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St. Joseph the Worker
Finance Committee Meeting
Friday April 20, 2006

Members Present: Jeff Gonner Mark Molo Kim Kunkel Vonda Hosch Fr. Mark Ron Gansen Jerry Schroeder
Nancy Ehrlich Ron Gansen Kevin Schmitt
Absent: Jim Rhomberg

Fr. Mark led the opening prayer at 7:00AM

Approval of March minutes motion by Mark second by Vonda, approved as written.

Old Business:

Final Budget numbers were approved by the Pastoral Council and finance. This budget will be presented to the Archdiocese in the yearly report due in July.

New Business:

Nancy presented the finance numbers for the month of April. Adult Sunday contributions came it $15,390.73 more than the budget. Total year to date Sunday contributions are $700,694.28. Expenses year to date are $985,777.58. Year to date the expenses exceed the income by $117,396.75.

Received notification from Ken Rahe, Finance Business Manager at the Archdiocese requesting disposition of the investment return for the past six months by May 1st. Expected return for the last six months will be approximately 8% of the Central Endowment account balance. Jeff made the recommendation that 50% of this growth should be reinvested in the Central Endowment and the balance be transferred to the Education Restricted account. Due to the fact that transfers can only be made semiannually on May 1st and November 1st this will increase the availability of funds in the Education Restricted account.

Laura Knable and Deb Tschiggfrie have volunteered to assist as scrip program directors. The finance committee agreed to send a letter to all parishioners before the school year end promoting the scrip program. Thank you to Mary Carew who for many years has managed this program alone.

Kevin and Art are still working on the gift and estate tax planning seminar. Invitations will be sent out when the date has been set for this meeting.
The Leave a Legacy program will provide materials, including sample letters that could be sent to financial planners and attorneys. Attitudes prevail about how much of what is given to the parish goes to support Holy Family School system. All Catholics have an obligation to provide catholic education; if not provided by the Holy Family system, would St. Joseph the Worker be able to afford a quality comparable education?

On Tuesday May 1st there will be a dedication of the St. Joseph the Worker statue at 6:00PM. All parishioners are invited to the dedication and a potluck supper immediately afterwards.

Meeting adjourned at 7:50AM

The next Finance meeting is Friday, May 11, 2007 at 7:00AM.

St. Joseph the Worker
Finance Committee Meeting
Friday December 15, 2006

Members Present: Jeff Gonner Jerry Schroeder Fr. Mark Jim Rhomberg
Nancy Ehrlich
Absent: Mark Molo Kevin Schmitt Ron Gansen Vonda Hosch
Guest: Bob Schreiber

Fr. Mark led the opening prayer at 7:00AM

Approval of November minutes motion by Jerry second by Jim.

Old Business:

Holy Family Schools will start working on the transition of students from St. Joseph the Worker and St. Joseph, Key West sites after the first of the year. A series of open house invitations will go to students at both schools for tours of Resurrection, St.Anthony's and St. Columbkille's. A new smoke alarm system and fire doors will need to be installed in the St. Joseph the Worker school. The lower area in the office building will return to the parish when the preschool moves to the main school building. There will be further discussion on how to use this area.
Jim stated that having the Day Care on site needs to have a positive spin up on it. Tradition holds that if parents put their children in a catholic day care, they continue on into the elementary grades. Having the daycare on site will give the parish another avenue for more parish involvement with families within the community, who are not necessarily members of St. Joseph the Worker.

New Business:
Holy Family approved the assessments for 2006-2007 school years. St. Joseph the Worker assessment will drop by $17,472.00 resulting in an assessment of $889,815 versus the $907,287 for this year.

The Archdiocese compiled data pertaining to the last five years of parish enrollment. A handout was presented about the data of St. Joseph the Worker. The Archdiocese of Dubuque is 70% Catholic with only 51% in attendance according to the October pew counts. St. Joseph the Worker has remained steady for the last two years.

The financial picture for the past five months of Sunday contributions saw an increase over the same time frame last year by $25,622.90. However, the expenses still exceed the income by $86,853.75.

Nancy presented the 2007-2008 budget time-lines to everyone. The staff will start working on next year's budget right after the 1st of the year.

Jim Rhomberg, Art Gilloon, Kevin Schmitt and Fr. Mark will be meeting with parishioners in February to discuss estate planning. These types of meetings will also be held during August or September.

Meeting adjourned at 7:45AM
Wishing Everyone a Merry Christmas and Happy New Year.

The next Finance meeting is Friday January 12th at 7:00AM.

Finance Committee Meeting
Friday November 17, 2006

Members Present: Jeff Gonner Ron Gansen Fr. Mark Jim Rhomberg Vonda Hosch
Kevin Schmitt Jerry Schroeder Nancy Ehrlich
Absent: Mark Molo

Fr. Mark leading the opening prayer at 7:00AM

Old Business:
Jeff asked for clarification on the statement "tuition will go up, if the assessment goes down". Nancy explained that there are three sources of income for Holy Family, tuition, parish assessments and development income. If assessments are not able to be paid and there is no development income, it may result in tuition increasing.
Motion to approve October minutes as written with above notation was made by Vonda, Jerry second. Approved.

Fr. Mark mentioned that consolidating the St. Joseph the Worker and St. Joseph Key West sites will help keep the numbers even for the Holy Family system. It will not result in more income for the school system. The Holy Family Finance committee is meeting on November 17 to work on the school assessment formula. Currently it is a 60/40 split. 70/80 affects parishes with no children in the school system. Inquires at parishes for registration and transfers to a new school site are promoting questions concerning the need to switch parishes. Fr. Mark sent a letter to all parents of school children advising that you do not need to belong to the parish where your children attend school. The sacraments are celebrated at the parish of residency. Jim Rhomberg expressed that the day care and child care programs are a positive asset to the parish. This program will be year round and the upgrade costs to the school building will be handled by Holy Family.

The October pew count was as good as last year. Dan Radke put together a graph reflecting the attendance at the different masses during the last five years. Over the past fiscal year St. Joseph the Worker has registered 50 new families. Holy Family did a survey and only two parishes have seen an income increase since 2001. St. Joseph the Worker was not one of the two.

The financial picture for the past four months saw an increase over the same time frame last year of $17,021. However, the expenses still exceed the income by $52,732.42. Octoberfest resulted in a net profit of $34,663.19.

Jeff and Kevin noted that the most expense the parish will incur due to the closing of the school site will be the utilities for the office. In 2005 the costs for utilities were $5,855.00.
Kevin will compute a working model showing different cash flow scenarios for income and expenses. The opportunity is here to be creative both for parishioners and day care. The scrip program also will have the opportunity with the daycare parents, as this will be a year round program.

Jim Rhomberg, Art Gilloon, Kevin Schmitt and Fr. Mark will be meeting with parishioners in February to discuss estate planning. These types of meetings will also be held during August or September.

The next Finance meeting is Friday December 15 at 7:00AM.