Saint Gerard Catholic Church
Meeting of Finance Council
February 27, 2020
Location: Offices of Saint Gerard Catholic Church
809 Orange Avenue, NW
Roanoke, Virginia
Attendance: Finance Council Members: Present: Karen Wray, Chair, Abraham Ngemdahimana, Armando Jerez, Myriam Jerez, Cleo Sims, Victoria Brown, and Dan Callaghan, Secretary
Absent: None
Other Attendees: Fr. Ken Shuping (Pastor), Fr. Jose Arce (Parochial Vicar), Jim Allen, Business Manager, Paul English
Call to Order: The meeting began at 6:05 pm with a prayer offered by Fr. Shuping
Roll Call: Ms. Wray, Chair, declared a quorum of the Finance Council was present.
Agenda: Ms. Wray distributed the agenda for the meeting. Members and Fr. Shuping had no additions.
Minutes: The minutes of the January 16, 2020 meeting were received and filed, without amendment.
Financial Reports: Ms. Wray reviewed the Parish checking account and credit card reconciliation statements.
Mr. Allen presented the financial reports for the Parish for period ended December 31, 2019, together with additional current information. The Parish maintains a strong positive cash flow with approximately $25,200 in the operating checking account. Mr. Allen noted that collections remain strong and the Parish maintains a positive balance sheet and cash flow.
One of the certificates of deposit matures in April 2020. By motion of Mr. Callaghan and second by Ms. Sims, the Finance Council recommends that $10,000 be used to renovations to the bathrooms.
The Finance Council also discussed establishing a minimum balance in the operating account before making transfers from the operating account to investments. The Finance Council recommended that the Parish have at least two (2) months of expenses in cash before any transfers occur. At present, the balance in the operating account equals approximately one (1) month of expenses.
Other Business: Fr. Shuping advised that the Finance Council will need to make an appeal for the Diocese Annual Appeal. Members of the Finance Council will make presentations at Saturday and Sunday Masses.
The Finance Council discussed additional grant opportunities. Mr. Callaghan agreed to work with Mr. Allen in exploring a grant from the John C. Fricano Foundation. This foundation makes grants of up to $25,000 to Catholic programs and parishes in Virginia.
Adjournment: Fr. Arce offered a closing prayer and the meeting adjourned at 7:47pm.
Next Meeting: Offices of Saint Gerard Parish
809 Orange Avenue, NW
Roanoke, VA
Thursday, March 26, 2020, at 6:00pm
Respectfully submitted,
April 20, 2020
Daniel J. Callaghan
Secretary, Finance Council
Saint Gerard Catholic Church
Roanoke, Virginia