Finance Council Minutes  4-16-08

Present:  Dominic Daniels, John Buchko,  Gary Mikolajczyk, Paul Shephard,  Fr. Pat, Rich Barone, Margaret Lewis, Martha Marino, Fr. Pete, Dorothy DeSanto

Excused: 

Not Present: Jerry Brewer, Bill Rokenbrod, Lisa Sexsmith

Minutes: Meeting opened with Our Lady of the Valley Parish Prayer

 Minutes for March were accepted by Gary Mikolajczyk and seconded by Martha Marino

Rich Barone went over the school Budget with handouts. The school is in the red as of the end of March, which is expected at this point. The school is still expecting some donations within the next few months, and did receive a $20,000 check from City School District which will show on next months budget.

Bob Everet who is the computer lab teacher was able to get a complete $20,000 computer lad for $850, and also 41 used desks in good condition for $250. Fr. Pat gave a presentation on the Diocese of Rochester Catholic Schools of which 14 will close this year. The diocese has set 5 criteria, which the schools must meet in order to remain viable. These 5 criteria will be watched closely by the school, the parish, and the finance council. One of the criteria is that the school must use it’s own resources for any shortfall that they have at the end of the school year.      

John Buchko went over church budget as of 3-31-08 with handouts. The church is about $63,000 behind budget, about $4,000 better than last month. We only have 4 months left to have incoming revenue increase by a large amount in order to close this gap. Once again this shortfall is mainly do the ordinary offering, maintenance expenses, and Non-operating Investment Returns. We looked at a proposed end of the year budget. If everything continues as it is now it looks like the parish will be $88,000 in the red by end of fiscal year.

Old Business –We will have someone from Blades give us an estimate on the                                                                                                

             proposal from JHL on the property where the rectory use to be and the front of

             the school.

             On the sale of  St. Ignatius the person interested in it backed out, so we will start

             again. The Finance council also agreed to lower the asking price $10,000.

Next meeting will be Wednesday  May 21st   2008 at 7:00

Closing prayer was let by Fr. Pat

Respectfully submitted by Dominic Daniels