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OUR LADY OF THE LAKE Finance Committee Minutes May 19,2020

Meeting attendees: Monsignor Marion Markarewicz, Mike Henze, Charlie Cassmeyer, Chris Hermann, Maria Davis, Brian Gagnon, Susan Spica

Monsignor Makarewicz opened with a prayer

The minutes from the April 30, 2020 meeting were approved.

April Financial numbers were review: the deficit was $8,000 from budgeted amount. Special bequests and donations have helped without them we would be short about $15,000.

Special Collections:

1.Information was thru April 3oth and a rebate of $1331 from the lowered Diocese for Infirmed priest and Priest retirement was noted.

2. Binations: these are donations made for any Special mass that exceeds our allotted amount by Cannon Law. The excess amounts are paid to the Diocese on a quarterly basis. Kelly has added line 421 to account for Binations.

Old Business:

1.Rectory update: Bids are still being collected. Question was asked if Diocese has to sign off on each item or as the project as a whole?

2. Budget: Kelly is sending budget information to all Committee Chairs. Budget due in August.

New Business:

1. Counters: looking for parishioners that would not be as susceptible to Covid 19

Need to establish new count days. Possible Monday or Tuesday and be counted outside the business office, possibly the library as it has a copier.

2. Capital Expense Threshold: discussed the benefit of expenses in a category vs Capital expense. Currently any expense under $500 goes in a Category. Chris suggested raising the amount to $1,000, anything above that amount would be a Capital Expense. Chris made a motion; Expenses under $1,000 would be categorized, expenses above $1,000 would be a Capital Expense.

                                                 Next Meeting: June 23, 2020 at 4:00 By ZOOM

Closing Prayer