MINUTES - MAY VESTRY MEETING
St. Peter’s Church - May 14, 2007
Senior Warden Neil Blalock opened the meeting in Fr George Young’s absence. Present: The Rev. Lisa Flores, Cheryl Smith, Francis Flood, Early McCall, Trey Warren, Cathy Kaltenbach, Neil Frink, Mary Lynn Torchia, and David Lott. Absent: Ed Grissom, Norma Norris, Ben Stephens (late arrival). Pete Rauchenstein and Jim Carpenter were present during for the 1st half hour.
NEXT MEETING: June 18, 2007 @ 6 pm; Devotional: Francis Flood
Giving Campaign Report: Pete Rauchenstein handed out the most recent (May 10) Campaign report, announcing that with three weeks to go, commitments totalling in excess of of $1 million had been received from 74 pledges. He cautioned, however, that while laudable, these results left us with the need to procure $150,000 in pledges each week until the Campaign’s conclusion if we are to reach our minimum goal of $1,450,000. June 10 will be “Dedication Sunday.”
Treasurer’s Report:
Jim Carpenter handed out the April financial report, reflecting continuation of the favorable trends of the last several months. For the four months year-to-date, we are “positive” and favorable to budget by nearly the same.
Jim reported that the $100,000 CD which the Vestry had authorized in ‘06 was about to mature; this is money left by bequest ultimately intended for the Foundation. Given that the Foundation is still awaiting formal IRS approval of our tax exempt application, Jim recommended that the maturing proceeds of the CD be “borrowed” by the Parish and applied toward the $360,000 remaining BUB indebtedness. This will reduce the interest cost to the Parish (and facilitate the mandatory principal reduction). The money will be repaid to the Foundation from proceeds of the Capital Campaign, most likely during the last phase of the Campaign’s pledge redemption.
After some discussion, Francis Flood moved that Jim’s recommendation be adopted: that 100% of the maturing CD’s proceeds be applied to the Parish’s obligation toward the remaining BUB indebtedness, with the clear understanding that the Parish will reimburse the Foundation that amount at the Campaign’s conclusion. The motion was seconded and passed with one dissenting vote.
Vestry “Thank You’s”:
1) Dan Roach, for his many, many years of service as coordinator, teacher, and mentor for Middle School Christian formation.
2) Lisa Flores & Kristina Smith, for helping raise consciousness about the Millennium Development Goals and organizing presentations for the adult Christian formation hour over the past several months.
3) The Mock Family, for their contribution of the stained-glass window in the Children’s Chapel.
4) Volunteers & Hosts during the Shrimp Festival (especially those who labored long in helping with parking, a substantial fundraiser for/by the Youth Group).
5) All who have assisted as teachers, organizers and coordinators with Christian formation classes in the past year.
Minutes of the April 16 Meeting were approved without exception.
Assistant Rector’s Report:
Lisa expressed her gratitude for the time she had spent at St. Peter’s and invited anyone so inclined to visit Christ Church, Gross Pointe.
Senior Warden’s Report:
Neil spoke about the Campaign and echoed Pete Rauchenstein’s comments about maintaining the energy and determined effort.
He thanked Lisa for her energetic and enthusiastic service to the Parish.
Vestry Initiatives:
No substantive change was reported on any of the Vestry Initiatives, each of which is being actively pursued.
There being no new business of note, the meeting was adjourned at 8 pm sharp.
Respectfully submitted,
John C. Train, Clerk
