Finance Council

Minutes of April 11, 2006

 

 

 

Members Present: Tom Halloran, Bob Pearl, Renee Estremera, Marty K. Zanotti, Marty P. Zanotti, Len Robare, Joe Dubovec and Al Barbanera

 

Excused: Fr. Dave and Doug Hill

 

Guests: Tam Straight-Schervish and George Schram from St. Charles Credit Union

 

St. Charles Credit Union Proposal

The credit union has over 8,300 members of which 300 are from SJB. We also have one member on the board, Raymond Fiorilli. They presented a proposal to manage the operation of our Direct Debit for Offertory and the EFT payments for school tuition. Their proposal appears to offer significant savings for us. A cost comparison will be prepared before the final decision is made. The credit union will also provide tuition loans to school families as needed.

 

Diocesan Assessment Payments

Several members of the council and Fr. Dave met with the CFO of the diocese to discuss the outstanding balance on our annual assessments. The increasing cost of operating the school and the decline in income has prevented regular monthly payment on the assessment. The diocese requested a plan for the resumption of regular payments and repayment of our outstanding debt. With the downsizing of the school and the consolidation of the daycare into the school building, addition savings should be available to begin a repayment plan in 2007.

 

Remodeling Fund Campaign

This campaign will begin after Easter with a two-part program. Advanced gifts will be solicited and then a parish-wide campaign will follow in May. The Investing in our Future envelope could be used for this campaign. The letter for the advanced gifts campaign was approved.

 

School Budget Estimate

A school budget estimate was prepared and reviewed to determine the impact of the downsizing and the consolidation of the daycare. The initial figures are encouraging and indicated a positive cash flow. Some refinements will be necessary as we finalize other aspects of the consolidation

 

Festival Planning

The final arrangements for the grand prize will be completed shortly and the raffle ticket printing can begin thereafter. There was a good turnout of booth captains for our initial meeting and several booths were discontinued for this year. A limited number of casino workers attend that first meeting.

 

Teacher Salary

The incentive payment to the teachers with more than 30 students in their classes was reviewed and several adjustments were made.

(FC only – The amount of time each junior high teacher shares the increased teaching load was greater than our previous estimate. The homeroom teachers have the extra students for 25 of 30 classes in a two-week period as opposed to an equal sharing of the classes. The 6th and 7th grade teachers were given an incentive equal to that of the other teachers with the increased teaching load.

 

Financial Report to the Parish

A format for the initial weekly publication of collection income was presented and revised.

 

Account Audits

Two members of the council will conduct an audit of the school accounts during the first week in June.

 

Cleaning Services Contract

Deferred

 

Regional Roundtable Meeting

The next meeting is May 3rd at St. Rita’s in Solon.

 

Next Finance Council meeting: Tuesday, May 9th, at 7:00 p.m. in the Bell Tower.

 

 

                                                                                                                                                             

Tom Halloran

Chair

 

Copy to:

Parish Council

Webmaster

Finance Council Menu

Ministries Menu