First Jefferson Unitarian Universalist Church

Special Board Meeting, April 6, 2013

Meeting called to order by President Jean Bruttell at 3:47 p.m.  Certification of a quorum.

In attendance:  

Jean Bruttell, President
Lin Wells, Vice-President
Judy Gutierrez, Treasurer
Rachel Hawkins, Secretary
Gail Lockwood, Ministry Area Coordinator
John Johnson, Outreach Area Coordinator
Michael Zepeda, Education Area Coordinator
Randy Gregory, Member at Large
Rev. Jennifer Innis, Consulting Minister
Also Present:      Cheri Husband, Dan Sexton, Connie Nolen

Chalice Lighting and Reading

Agenda Approval.

Reminder of the Board's working rules.  Michael Zepeda offered to be process observer.

Invited Guests, Dan Sexton and Connie Nolen as Finance Committee.

Dan Sexton:  The Finance Committee has been working on ways to work out the budget.  The Finance Summary, and Balance Sheet were provided for reference.  Current income just barely meets current expense, only because we are not paying more bills than we have cash to pay.  We have a total arrears of $22,869.  Part of the reason for this is that we started this year in the hole, paying last year's bills.  The Finance Committee's position is that we need to do everything possible to start the next fiscal year as current as possible.  

Connie Nolen:  Another issue is that the bank reconciliation had not been done for several months.  That has been reconciled now, and our QuickBooks account is much closer to the bank account.

Dan Sexton:  In sum, cash flow is poor and our arrears are growing.  There was discussion as to whether the loan from the endowment fund is another asset of the endowment, that can be forgiven, or written off.  It looks very doubtful that the church will be able to pay it back this year or next year.  If so, could we then borrow another loan from the endowment fund?  

Judy Gutierrez made a motion that Connie Nolen, Mary Kirwin, Dan Sexton and Eric Wennersten be nominated to the Endowment Committee.  Second.  Discussion.  Passed unanimously.

Michael Zepeda made a motion that the Board requests that the Endowment Committee forgives our current loan in the amount of $33,060.00.  Second.  Discussion.   

Dan Sexton: The other step involved in this process is to get some mortgage relief.  We can apply to the UUA loan committee for loan forgiveness  to pay interest only for a certain period of time.  

Motion passed unanimously.  

Judy Gutierrez made a motion that the Board requests the Endowment Fund trustees issue a loan to the church in the amount of twenty five percent of the unrestricted principal of the fund.  Second.  Discussion.  Judy Gutierrez amended the motion to the Board requests that the Endowment Fund trustees issue a loan to the church up to the amount of twenty five percent of the unrestricted principal of the fund.  Second. Discussion.  Motion passed by a vote of 5-2.  

Process observation:  We are about 25 minutes over time but that was due to real discussion of the issues at hand.  Much cross talk, we need to work on that still.

Check out.

Closing words.

Meeting adjourned at 5:17 p.m.