Finance and Maintenance Committee Report Our financial information for the year-to-date period ending May 31, 2012 includes a lot of positive and encouraging information, in spite of the fact that it is still showing red and deficit ink in our weekly bulletin. As of May 31, 2012 our revenues have lagged behind our budget expectations and our requirements, but on the positive side, our expenses this year are also lower than last year. The published results do include the costs of the heavier heating period of the year and include the payment of 69% of our required annual dues to the Presbytery of Brampton ($3,280) and the National Head Office ($6,415). Additionally, we have been able to manage our day to day operations without transferring any investment income or principle from the ING Direct or the Consolidated Investment Fund. For this, we give thanks to you and to God for your continued financial support. All operating costs during the last reporting period met budget expectations except a one time $1,073.00 repair to the organ. There are number of churches in our denomination and a few countries in the world who will envy our achievements and wish their operating deficits were directly attributable to their prepaid expenses. Our Y-T-D Presbyterian Sharing revenue for this reporting period was $5,647.00 or 26% below our required budget commitment. As outlined at the Annual Meeting by Rev. Sean Foster, these funds support all of the worthy causes of the Presbyterian Church in Canada and are very adequately covered in the Presbyterian Record. Please pray for this budget and these programs and offer your support as God permits. Let’s not leave any catch up until the 4th quarter of this year. Our Building Fund year to date receipts have been lower than expected and all has been spent or committed to the previously Finance and Maintenance Report
reported backflow valve device and the replacement of 100 feet of steam line piping. In addition to these projects, a telephone cabinet was built in the ladies washroom and a $1,000.00 deposit has been paid on the masonry repair of the south bell tower. Over the course of the winter, substantial masonry cement fell from the south bell tower and this repair is being given high priority to avoid any further deterioration or negligent repair costs. While the sky jack is here doing this repair we will also use it to paint the north lawn upper windows of the sanctuary. We are pleased to announce that God has offered a very capable candidate for our F & M vacancy and we welcome Dee Cope to our committee. Dee is very familiar with a number of departments and issues of the church from her previous duties at Knox and as a former Accounting Supervisor with Johnson Controls, adds financial decision making talent to the committee. Our committee is now blessed with the talents of three church administrators – 2 on committee and 1 on staff. Many thanks to the Landscaping committee, Lewis Wagg, Sandy Stansfield and Greta Lamb who have just completed the flower bed planting for the year and Burt Hutchinson who is keeping our lawns in first class condition. All of their talents and gifts will continue to make Knox a beautiful addition to downtown Georgetown. One of our congregational members has suggested that we investigate the installation of a camera on the outside of the large hall entrance so that staff has the tools to review who is ringing the door bell and wanting into the church after hours. A wireless camera system was suggested. We are currently looking at this suggestion along with installing such a system into the Page 1