Prince of Peace Lutheran Church

Executive Committee Meeting Minutes

November 13, 2018

Present: Pastor Chad Brekke, Allan Grant, Lynn Anderson, Julia Sevald, Melissa Johnson,

Absent: None

Call to Order: President Allan Grant called the meeting to order at 6:18pm.

Devotions: Allan led us in prayer.

Adoption of the Agenda: A motion was made by Lynn Anderson and seconded by Julia Sevald to approve the agenda.  Motion approved.

Approval of Previous Minutes: A motion was made by Lynn Anderson and seconded by Julia Sevald to approve the minutes from the October 16, 2018 Executive Committee meeting. Motion approved.

Reports of Officers:

President’s Report:

The Boy Scouts will be coming to present at the council meeting tonight.

Sue LaGue will also be coming on behalf of the Nominating Committee to present the 2019 Council nominations.

Treasurer’s Report:

Notable October Activity:

• For the month of October, receipts were less than expenses
  • The general/building fund activity for the month was a loss of $9,492. This is unfavorable to both budget and prior year by $4,603 and $6,622, respectively.
  • Total October offerings were lower than both budget by $3,485 and last year by $3,118.
  • Overall, expenses are favorable to budget but unfavorable to prior year for the month.   The favorability to budget is mainly related to a lower mortgage payment and timing of insurance payments as well as lower repairs.
• For October year to date, receipts are lower than expenses, resulting in a YTD loss of $101,832. This is unfavorable to budget and prior year by $24,363 and $46,452, respectively.
  • Giving throughout the first 10 months of 2018 is down from last year but expenses are also down, although not at the same rate.
  • A significant variance to both budget and prior year is the loss of daycare income in 2018. We continue to search out a new daycare to utilize our space but have not been successful yet.
• The general fund cash balance available for use at the end of October is a deficit balance of $77,744 which means we are effectively borrowing from the designated funds to cover normal operating expenses.
• The only designated funds with significant activity in October was the adult mission trip fund.

The executive team is reviewing and discussing options to help support and strengthen the financial position of the church.

Vice President’s Report:

None

Secretary’s Report:

None

Senior Pastor’s Report:

Pastor Chad had nothing new to report besides what he will share with us during the budget discussion.

Unfinished Business:

None

New Business:

• Allan is proposing we modify the plan of operation for the Prince of Peace Endowment Fund (Leave a Legacy) to allow the distribution of up to 20% from the existing 5% to go toward debt reduction.

Action Items:

• There will be no Executive Team meeting in December.

A motion to adjourn the meeting was made by Lynn Anderson and seconded by Julia Sevald. Motion approved.

Respectfully submitted,

Melissa Johnson

Council Secretary