Minutes of the Vestry Budget Meeting - January 8, 2017

The vestry convened for a special meeting after church on January 8, 2017 in order to pass a budget for the year 2017. All were present for the meeting including the rector Kristin Orr, the senior warden Anne Edwards, the junior warden Steve Hofer, vestry members Bob Burgwald, Rob Carrier, Alice Creason, Nichole Dailor, Randy Oyster, Ted Stone, Zoltan Sziky, Cynthia Turnquest, and Hans Zigmund, as well as the treasurer Debbi Huggett, and the clerk Susan Marquis.

Information for Consideration

Prior to the meeting, the treasurer electronically distributed to the vestry detailed financial spread-sheets with income and expense projections.

Debbi Huggett reported financial numbers as the vestry labored to finalize the 2017 budget.

The following information was presented for consideration:
—Many of the budget lines have been pared down over the years or reflect set costs (e.g. insurance, lawn care, etc.). Budget decisions can be made in some categories (e.g. salary increases, diocesan pledge, etc.)
—The current amount pledged for 2017 is $178,518.
— A few regular donors have not yet pledged for 2017, although they most likely will. The vestry decided to add $5,000 to non-pledge income as an estimate of late pledges with the hope that this revenue will materialize. This brings the non-pledge estimate to $27,600.
— Historically, we have realized 90-98% of what was pledged. The vestry must decide whether to base the budget on the amount pledged or an average percentage of the amount typically realized.
—Additional income, including estimated loose offerings, special offerings, space use, gifts, and earned interest brings the total estimated revenue to $215,443.
—Total estimated expenses for the year are $225,645, which leaves a deficit of about $10,000.
—This number reflects no increase in our diocesan pledge, salaries and benefits, or other expenses over which the vestry has some control.

Budget Decisions

—The vestry decided to budget what parishioners have pledged with the realization that it is likely a few percentage points of those pledges will not be realized.
—There are some parishioners who have not yet pledged, but it is likely that they will.
—Our contribution to the diocese will remain the same as in 2016.
—Before discussing staff salaries, Pastor Orr excused herself, and the senior warden led the discussion. Given that there is no cost-of-living increase projected and that parish income is limited, the vestry decided to keep salaries at 2016 levels.
—The contribution to the rector’s sabbatical fund was increased from $250 last year to $750 in 2017.
—The rector re-joined the group as Bob Burgwald made a motion to accept the (~$10,000 deficit) budget that the vestry compiled. Rob Carrier seconded the motion, and it was passed unanimously. The vestry will explore ideas to raise funds during the year to overcome the projected deficit.

Respectfully submitted,
Susan Marquis
Clerk of the Vestry

Approved by the vestry:  February 20, 2017