The Finance Committee met for its regularly scheduled monthly meeting on March 11th at 6:30 pm. Financial results through February were reviewed. General Fund giving was $54.5k and expenses $53.3k, leaving a positive balance of $8.7k. AS has been recent practice, no payments to apportionments were made. They are expected to resume in April, should giving support this.
Discussion on how the Finance operation is functioning with the departure of the Secretary of Finance, generated general agreement that Jim Winter and Diane Blum had successfully filled the void left by Linda McGuire’s absence. Many thanks to both and to Jan Garrison for their dedication in achieving this result. Jim manages incoming revenue while Diane manages expenses.
The Finance Committee endorses the severance payment planned for Linda McGuire.
Issues remain with management of the M&T Money Market account and the Methodist Frontier Fund, where the Endowment Fund is invested. It is believed that a Corporate Resolution will be needed from the Trustees to establish appropriate management control for these two funds. The M&T account holds our operating funds and thus should be available for routine withdrawals when needed, while the Endowment Fund requires oversight as an investment vehicle.
Chris Hipp - Chair
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