ST. PETER’S PARISH, FERNANDINA

MINUTES - SPECIAL VESTRY MEETING
St. Peter’s Church - March 13, 2008

Pursuant to discussions at the regular Vestry meeting (March 10, 2008), Fr George Young called a Special meeting, to further consider the offer from Housing Assistance Corp or Nassau County (HAC) to purchase the 5+ acres of undeveloped property the Parish owns, located at Broome & 11th Streets.

The meeting was convened at 5pm. Present: Rev. George Young, Neil Blalock, Mary Lynn Torchia, Neil Frink, David Lott, Dolores Lord, Lena Watson, Bob White, Jon Lasserre, Ed Grissom, Norma Norris.

Following a few minutes of “orientation”, we were joined by Harold Perry, CEO of HCA & HCA’s attorney, Jeffrey Tonasetti.

There ensued an open discussion of the project that HCA has in mind; aspects of their application for funding that have implications for their offer to St. Peter’s and the necessity of our prompt response; and a number of “what if’s”.

After our guests departed, there was further discussion among St. Peter’s members about the possibility of HCA’s being willing to consider a ground lease versus an outright purchase (pursuant to a memo submitted by Jon Lasserre). This discussion resulted in two separate motions:

1) Motion approving the next steps in contract process: made by D Lott and seconded by R White, the motion to move ahead with HCA’s offer to purchase the property for $705,000 was approved without exception.

2) Motion to suggest to HCA a lease option: made by J Lasserre and seconded by E Grissom, the motion acknowledges the sales contract but recommends that HCA be made aware of St. Peter’s willingness to discuss the option of a ground lease in lieu of sale, in the event that that option may be of interest to them. The motion passed with no dissent but with one abstention (ML Torchia prefers the outright sale).

The meeting concluded at 6:10 pm.

MINUTES - March VESTRY MEETING
St. Peter’s Church - March 10, 2008

Fr George Young opened the meeting at 6pm. Present: Rev. Kimberly Still, Mary Lynn Torchia, Neil Frink, David Lott, Dolores Lord, Lena Watson, Asa Gillette, Bob White, Francis Flood. Also present: Jim Carpenter (Treasurer), Joe Crim. Absent: Jon Lasserre, Neil Blalock, Ed Grissom, Norma Norris

Next Meeting : April 7, 2008 @ 6 pm ; Devotional: Asa Gillette

Treasurer’s Report:

Jim Carpenter briefly reviewed the Feb Financial Report: though slightly behind in our “collections”, our expense pay out is also below budget and on balance, we are in fine shape. He cautioned: there are rumors that our financial condition is strained, when in fact nothing could be further from the truth. Pursuant to instructions from the Feb Vestry meeting, two CDs ($75K for 3 months and $100K for 6) had been purchased with excess capital campaign receipts, still leaving cash in different accounts exceeding $100K. He reviewed the “Revised” 2007 Giving Campaign cash flow projections for the next two years. After projected receipts and expenditures of roughly $400K this year, he expects to have about $100K to begin in ‘09 the final phase of collecting and deploying Campaign proceeds.

Property at Broome & 11th

Jim distributed a 3-year summary of discussions between/among St Peter’s folk and various other parties interested in helping us decide the disposition of our 5+ acres of vacant property. The Parish has received a new letter from Housing Assistance Corp of Nassau Co (HAC) to purchase the land for $705,000. While the discussion about this proposal was made a bit difficult by the fact that several new Vestry members were not familiar with the history, the tenor was generally supportive of selling the property based on HAC’s intention to build “affordable” housing, for which there is critical need in Fernandina Beach. That said, Fr George felt that given the number of Vestry not present and the need to give all more time to consider, a special meeting would be called and a representative of HAC be invited to attend. A motion delaying the vote until the further meeting was held passed with only one dissent (Mr. Flood, who felt that we should accept the Treasurer’s recommendation to move forward with the HAC offer). (more…)

MINUTES - February VESTRY MEETING
St. Peter’s Church - February 11, 2008

Fr George Young opened the meeting at 6pm. Present: Rev. Kimberly Still, Neil Blalock, Ed Grissom, Mary Lynn Torchia, Neil Frink, Norma Norris, David Lott, Dolores Lord, Lena Watson, Jon Lasserre, Asa Gillette and Bob White. Absent: Francis Flood, Dave Lott. Also present: Jan Smith, (Music Director), Jim Carpenter (Treasurer), Joe Crim.

Next Meeting : March 10, 2008 @ 6 pm ; Devotional: Bob White

Treasurer’s Report:

Jim Carpenter did not make a report but did ask for Vestry approval to begin investing excess cash in bank CDs, for terms (generally 3 & 6 months) that would not jeapordise our access to cash when we needed it. A motion was made authorizing the Treasurer to invest excess cash in short term CDs; the motion passed without exception.

Minutes of the Jan 28th meeting were approved without exception

Vestry Thank You’s:

1) Martha Skirven, for her six years plus of uplifting and inspired service as St. Peter’s Music Director and choir master.

2) The Youth of the Parish and Brian Moody, for a very successful Youth Sunday & Rummage sale.

3) All who assisted in collecting and organizing things for offer at the Rummage sale (with particular mention: Aaron Morgan, Bert Way, Inga Warren, Kim & David Page, Kay & Tom Basnight, Rob Hicks).

4) Kristina Smith and all who participated in the best ever Epiphany pageant.

5) The Altar Guild, whose tireless efforts and relentless attention to detail during our many advent and Christmas service occasions, truly make St. Peter’s the “crown jewel” of Center Street.

6) The flower arrangers and deliverers, an unsung ministry that lends a spirit of majesty and uplifting beauty to our worship and outreach.

7) Mary Lynn Torchia for her contribution of altar chalices, patens, and vases; and Nancy Carpenter for cleaning/tidying up the Parish Hall vesting room, each reflecting skilled and loving hands and true dedication.

8) Jim Carpenter for his consistent, unwavering dedication as our parish treasurer, particularly in areas of budgeting, audit, cash management, planning, and report preparation - skills only exceeded by dedication and fastidious attention to detail! (more…)

MINUTES - January VESTRY MEETING
St. Peter’s Church - January 28, 2008

Fr George Young opened the meeting at 6pm. Present: Neil Blalock, Ed Grissom, Mary Lynn Torchia, Francis Flood, Neil Frink, Norma Norris, David Lott, Dolores Lord, Lena Watson, Jon Lasserre, Asa Gillette and Bob White. Absent: The Rev. Kimberly Still. Also present: Jim Carpenter (Treasurer), Ben Stephens, Meegan Burns, and Tim O’Connor.

Next Meeting : Feb 11, 2008 @ 6 pm

Treasurer’s Report:

Jim Carpenter presented a detailed report on our 2007 expenses with a summary of all accounts. As a result of the budget changes implemented by the Vestry in September, we ended the year with only a $151 deficit. This was due in part to the reduction in offerings during the second half of 2007.

Jim reported that as of Dec. 31, the Parish had received pledges of over $1.5 million and actual contributions $564,000 from the Capital Campaign.

In order to balance the 2008 Budget, several actions were approved by the Vestry. They included:

1. Budget reductions recommended by Jim in an effort to keep the 2008 expenses close to the 2007 budget expenses;

2. Transfer interest income from the Money Market Fund ($18,004) to the Thackara Fund and use the combined Thackara Fund balances of $22,133 as additional income for 2008;

3. Reduce the budgeted building improvement line item by $2,500, the budgeted ground improvement line item by $2,500, and the budgeted organ and piano maintenance line item by $1,300. All of these expenses will be charged to the Capital Campaign Maintenance Fund;

4. Increase the budgeted offerings by $14,472 to reflect a comparable level of Offertory / Tithing giving realized in 2007 rather than a 5% reduction originally proposed.” (more…)

MINUTES - December VESTRY MEETING
St. Peter’s Church - December 3, 2007

Fr George Young opened the meeting at 6pm. Present: The Rev. Kimberly Still, Neil Blalock, Ed Grissom, Ben Stephens, Cheryl Smith, Francis Flood, Cathy Kaltenbach, Early McCall, Neil Frink. Absent: Trey Warren, Norma Norris and David Lott. Also present: all newly selected members (seated Jan, ‘08): Dolores Lord, Lena Watson, Jon Lasserre, Asa Gillette and Bob White.

Next Meeting MOVED: Jan 28, 2008 @ 6 pm (previously, Jan 14)

Treasurer’s Report:

Jim Carpenter succinctly reviewed the 11-month financials and an update of the ‘08 Budget. (Part of the reason for moving the January meeting is to provide opportunity to incorporate December’s receipts into the ‘08 Budget and submit a revised, final Budget for Vestry approval before the Jan 30 Annual Meeting). December’s receipts will be especially important this year because: 1) we are approximately $10K below budget in our revenues going into December; and 2) we budgeted a very “generous” December (over $100K) - there are 5 Sundays and Christmas is on Tuesday. So, while our total expenses for the 11months through November are slightly under budget, we need a big revenue month to honor unfunded commitments and to craft the ‘08 Budget that provides for the exciting agenda we’ve planned in/for our Sesquicentennial.

Jim confirmed that receipts from the capital campaign are being received quite as anticipated, at the rate of more than $5 thousand per month. All work underway and planned is proceeding quite satisfactorily. (more…)