January 7, 2020

Wy’east UUC Board Meeting Minutes

Tuesday, January 7 , 2020

 

Present

Eme´, Daniale, Mathias, Marcy, Craig, Bruce, Linda, John, and Carl

Meeting Minutes

Meeting Minutes-review and approval

Moved and approved

Submitted via Email:

  • Minister’s Report

1) Sermon preparation, newsletter columns, etc.

2) Phone calls, e-mails. Pastoral calls and visits, meetings with congregational leaders. Lots

of meetings in December!

Planning memorial with Pool family. Memorial planned for the afternoon of Jan. 25. HSC

reserved, chairs for 150 guests available.

3) Colleague consultation (many hours of discussion of UUA and UUMA issues!)

4) Martial arts and Spanish language study.

5) Path to Membership class planned for January 5

6) Coordinating with Membership team to offer UU class on 2 nd Fridays at RCPPC, Jan.-June.

7) Met with Senior Group on 12-20

8) Delivered opening and closing words for Interfaith Alliance Against Poverty meeting 12-

5, hosted by Wy’east members—thanks to Barbara Dow and Ron Thurston!

Worship Committee Report via email if needed

  • Nothing to Report

Submitted via Email if needed:

  • RE walking kids back
  • Nothing to report

Submitted via Email if needed:

RE Committee Report

  • Nothing to Report

Submitted via Email if needed:

Treasurer’s Report 

  • Check out the Treasurer's Report for last month, attached. We had the year-end spike in pledge income that was expected in addition to some unexpected large donations (including one from the late Will Pool). That led to us increasing our funds by about 8300 for the month where we had predicted an increase of just over 3200. If you look at our budget graph, you can see that our income for December, represented by the green bar, is literally "off the chart."  For the year to date, we are increased by 7600 as compared to a projected loss of just about 500. 
  • Our total savings, including reserves, are now just over $65k. This includes an increase of over $300 in our minister's discretionary fund, putting that reserve just under 1900. Definitely an auspicious time for our endowment discussion.

 

  • Green Sheet Data Entry--Thank you, Mathias!!!
  • Mathias will learn this from Hank and take it over

UUA Certification

  • This got done via email

Endowment Task Force

 

  • Purpose: to have a way to collect funds other than pledges to help Wy’East, particularly if people wished to dedicate money from their wills.
  • Carl A. helped guide a lot to form documents
  • UUA resources also helped
  • This would open the opportunity for the possibility for people to contribute a substantial gift to Wy’East
  • Endowments are created by institutions, like schools, 
    • Usually it is for long term use not short term
    • The endowment can earn interest/profit to sustain it further
    • Idea is a separate committee to oversee the money, invest it, and determine how it is spent
  • Sample documents were used from UUA website
    • There are laws in most states about how endowments are managed and protected
    • They used the Oregon rules and processes when creating the endowment.
  • Wy’East Endowment:
    • There is a resolution and a policy document
      • Resolution document creates the committee and relates to the Wy’East bylaws in how the committee is created
      • Policy document is what the committee does on a day-to-day basis to run the committee; it is a written plan of what you will do with the money; this policy can be amended throughout to best plan for future
    • There are checks and balances accounted for from the board and the committee
      • Membership would be staggered in 3 year terms, so there will always be someone with experience on the committee
      • There are term limits, of no more than 8 consecutive years.
    • Nominating committee will help find members
    • There will be quarterly meetings to look at statements and check the status of things.
    • There will be secretary and financial secretary to track the money
    • Most of the time 2 signatures will be required, especially withdrawls from the endowment
    • Generally you just spend the interest that is accumulated
      • In special circumstances, then you might be able to use some of the principal
      • Oregon rule is that you can spend up to 7%, but under special circumstances this can be overridden and more could be spent, but the congregation would have to vote and approve.
        • In Wy’East policy document, it is proposed to spend 4-5% of the endowment fund, not 7%.
      • There is an option for the committee to reject a gift if it is more trouble than it is worth.
      • A gift of stock is recommended to liquidate it immediately.
      • There could be sub fund categories set up if needed; i.e. someone wants to dedicate money to scholarships; but generally would prefer uncategorized funds so there is less restrictions
  • Any distributions of funds need to be approved by the board, and any restrictions the board needs to be notified.
  • Questions:
    • Nancy D: Are we planning on getting an advisor to help decide on where to invest the funds?
      • A: If it is  a small amount, probably not, and would just go for some mutual fund; larger amount than yes. 
    • Q: Will there be Church mutual insurance? That could help cover liability if someone decides to sue you over how the money was spent
      • This may be a good idea for a large amount of money
    • Q: What is a “moderate return of risk”?
      • Decided to not define this
    • Q: Will we put some of the savings of Wy’East to get it started?
      • Possibly a good idea, board will have to decide
  • The endowment mission is to serve versus save.
  • Example: If a maintenance item would be needed for the building, there could be a loan created from the endowment with interest.
  • There should be an annual accounting of the endowment; i.e. hire CPA, bookkeeper…
  • Policy documents can be proposed by committee and approved by the board.
  • Comments:  Very well done in creation of the “Policy” and “Resolution” 
  • Distribution: committee could spend up to $2,000 when the fund is $100,000 or less, with the approval of the board, and not a congregational approval.  Over that would need congregational approval.
  • Q: Craig:  Would this require an additional meeting away from the annual and budget meeting?
    • They were thinking of this
  • Send email with questions to task force
  • Q: Will the board approve this committee at the next meeting and documents?
    • Wy’East Bylaw change --needs congregational approval
    • Endowment Policy--board approval
    • Endowment committee --board and congregational votes on the members
  • If there are any text revisions let know this month by 1/24 on the “Bylaws”, “Policy”,  before task force meeting
  • 2/4 Launch Nominating committee to find members after the board approves the endowment committee
  • 2/4 board approval for the bylaw change and policy document
  • Special meeting for congregational review of Bylaw “Resolution” document and vote of the document, and talk about policy document.....February 23 special meeting.  
    • Offer a table at the next 2 or 3 potlucks so people can talk about it or learn about it, if they were not able to make the 2/23 meeting.
    • Maybe also have a refresher at the budget meeting the 5/3
  • Annual Meeting 5/17 congregational approval of bylaws
  • After congregational approval at annual meeting ...board will approve endowment committee members, tentatively at the June 2nd
    • Within 90 days of the committee members approval,  the Endowment committee will approve the Endowment Policy, then the board will have to approve it.

Other items/reflections?

 

On Hold

  • Ron would like time to discuss ordering rainbow chalice tees-- waiting until the logo is finalized.
  • GA2022:  will send an email via the newsletter to determine if anyone is interested in hosting any activity. 
  • Food Justice Task Force

Confirm Next Meeting Date:  2/4/20 at  7pm

Motion to adjourn and approved.

 
 

 

Respectfully submitted by Marcy S

 
 

 

 

Date: 
Tuesday, January 7, 2020