Finance

STEWARDSHIP & FINANCE COMMITTEE REPORT - 2009

At the date of this report the 2009 year end financial statements have been completed other than minor year end adjustments. The statements will be delivered to our auditors, BDO Dunwoody for review in the near future.  The Reviewed statements will be presented to the Congregation at a future congregational meeting in 2010. An overview of the initial year end statements will be provided to the congregation at the 2009 annual meeting in February 2010. The 2010 proposed budget will also be presented at the annual meeting for consideration and approval. Our Treasurer Dona Pollard has provided countless hours ensuring our financial reports are accurate and complete.  I again offer her our sincere thanks for her continued efforts during 2009.

A brief overview of some of the 2009 highlights is:

1. 2008 year end statements as reviewed by BDO Dunwoody were presented and approved by the congregation at a congregational meeting in 2009.
2. Initial 2009 income statements indicate Knox ended the 2009 year with a net income of     $27,473.
3. Memorial Fund donations increased by 229% to $10,367.
4. Donations to the Accessibility Fund increased to $8,286 for 2009, an increase of 693% compared to donations during 2008.
5. Our Minister expenses for 2009 increased to represent a full year’s salary and benefits.
6. Heating costs for 2009 for the Church reduced by 35% to $7,491 for the year.
7. Fort Frances Nursery School continues to rent Room 306.
8. Initial indications are that Fall Canvass generated approximately $19,000 in 2009.
9. During 2009 Knox received an additional donation to the Irvin & Olive Eisenhauer Endowed Fund at the United Church of Canada, Toronto. Knox receives the income from this endowed fund on a yearly basis in December.  We extend our Thank You to Irvin & Olive Eisenhauer for their continued support of Knox Fort Frances through donations to their named Endowed Fund.
10. In 2009 the United Church of Canada required that all congregations join a central pay service for the payment of the minister and other specific employees’ wages and benefits. This was completed in 2009 and while it appears to be working we continue to have misgivings as to the benefits vs the cost.   
11. The Thursday & Friday night AA organization(s) continue to make periodic donations to Knox although we do not require those organizations to pay for use of the Church for meetings.
12. Special donations continue to be received from the congregation to assist in the repairs completed to the roof, the Accessibility Fund, and to replenish the monies used for that purpose from the General Fund.
13. M&S donations were sufficient to meet and exceed our 2009 commitment.
14. A new sound system was purchased and installed within budget in the sanctuary during 2009. It has enhanced the sound in the sanctuary; however Council is considering an upgrade to supplementary speakers in the sanctuary in 2010 to increase the sound in some parts of the sanctuary, especially the rear part.

The above is a brief overview of some of the goings-on in Knox finances during 2009. The S&F Committee chair will provide an overview of the initial financial statements at the annual meeting and respond to any questions at that time.

Robin Wright
Chair S & F Committee