Support Ministry Team minutes

Last meeting: June 10, 2008

Attendees:

Jeff Diehl

Don Monson

Diane Putzer

Walt Rugland

John Zweig

Staff:

Brenda Smongeski

Excused: Mike Lokensgard

Items that may require council action:

• FELC Trust Fund Continuing Resolution – recommend approval
• FELC Trust Investment and Management Protocols – recommend approval

Other important items of information:

FELC Financial Review: Giving is behind 2007 by 1.7 percent and 5.6 percent behind our budgeted goal through May. Our revenues through May were in line with our budget goals thus our financial statement is showing a deficit. Emphasis must be made to the congregation to meet their pledges to sustain our programs.

Support financial review: We reviewed and discussed the Support Ministry Team’s expenditures. We are currently only performing essential maintenance and upkeep. Any remodeling and modernization expenses will need to wait for improved financials for the church or next year. The water and sewer project at the North Site is on hold pending a resolution of costs for attaching to the city system.

Physical security policy/procedure: remains a work in progress.

Revenue/expenses reporting: The ministry team approved a new format for quarterly reporting of revenue and expenses for the church.

Auditing: The ministry team reviewed and adopted the FELC Audit Guide. The audit guide will be used for the next audit to be performed this year. Following the audit, the audit guide will be reviewed for any needed changes.

Ministry team minutes: Summary report and/or minutes are due electronically to Jean Monson on the Friday following a ministry team meeting. Thank you! Please e-mail the minutes to: jmonson@felc.com.

FELC trust: The ministry team reviewed several documents prepared by Walt Rugland to address issues related the FELC trust. This past year he had conversations with the FELC Trust trustees to discuss their concerns. It is the intent to remove Memorial and Designated Gift Funds from the Trust to allow management by the Council. The Trust will oversee only the Trust Fund. These documents are a result of these discussions:

• The ministry team reviewed the accounting of the Perpetual Endowment Funds in the FELC Trust Fund.

• In accordance with the bylaws, a new Continuing Resolution of the Congregation Council is proposed to govern the FELC trust. It covers the trust’s authority, the requirements for Council coordination and action, delegated authority, admonishments, the spending plan and the accountability. The ministry team approved the draft resolution and recommends Council approval.

• The ministry team reviewed a draft FELC Trust Investment and Management Protocols. These supplement the continuing resolution to govern actions by the Trust. The ministry team recommends approval.

• The ministry team reviewed a draft Trust Investment Policy Statement and Guidelines. The ministry approved this policy statement and guidelines consistent with the Support Ministry Team’s financial oversight role.

• The ministry team then reviewed and approved a new Gift Policy to align gifts to the church to the revised operation of the Trust.

Submitted by:

John Zweig