August News Regarding the Foundry Management Board

Tuesday, August 25, 2015

Foundry Management Board approves additional paydown of 2014 deficit

The Foundry Management Board, a nine-person elected group, meets monthly to discuss and make decisions regarding the management of the church.


The Foundry Management Board approved taking an additional $12,826 from church reserves to cover the 2014 deficit, in a unanimous voice vote at its Aug. 25 meeting.

That move means that the church has now funded the entire $197,000 deficit. In February, the board voted to move $184,000 from the operating reserves to the operating budget.

The extra $12,826 was discovered later during an audit of the church’s finances. The increase in the deficit related to state-level tax payments and payroll taxes, among other issues.

The church now has $472,000 in its operating reserve. Foundry rules require that the reserve be at least 20 percent of the operating budget, or $378,190 at the current budget level.

A challenge for this year’s budget is that the church is running behind on revenue from non-pledge donations, which are contributions from members who did not make a stewardship commitment. The church is $57,000 below where it was last year at this time and has only reached 31 percent of its goal in the non-pledge category.

In September, the board is likely to face another spending vote. Board member Beth Scott reported that the church needs to replace the roof over the education wing of the building. The funds for that project would come out of the capital reserves. It’s not clear how much the roofing contract will cost.


Drafting 2016 budget

Planning for the 2016 budget is underway. Board member Matt Hansen, chairman of the Finance Committee, will gather input from ministry team leaders in September prior to an October meeting where a draft budget may be presented.

 The process will be more streamlined than last year, when spending requests were gathered over the course of several months before the $1.9-million budget was drafted. Board and church-staff turnover prevented a similar schedule for cobbling together the 2016 budget.

 “This year, we have to figure out how to do it the best we can,” said Foundry Senior Pastor Ginger Gaines-Cirelli.

The budget is built on pledges, and board members agreed to lead by example in this year's stewardship campaign, which is likely to begin in October. The campaign website is set to launch in September.

"We all need to take active parts," said board chairman PJ Taylor.


Mission Possible construction

Mission Possible renovation will begin in a few months. Bids from subcontractors are due by Sept. 14. If they come in on budget and if there are no delays in the permitting process, work will get underway around Christmas.

The $6-million first phase will focus on transforming the area now occupied by the Laws Gallery, chapel and parlor into one fellowship space. The initial work also will include installing a new elevator, overhauling restrooms and replacing the building’s boiler and heating and air conditioning system.

The construction is slated to be completed by July but is likely to limit overflow space for Easter services.

 “We’re going to have to be really creative,” Gaines-Cirelli said.


~ Coverage of the Foundry Management Board was written by Mark Schoeff Jr. on behalf of the Mission Possible Communications Team.