Calvary Bible Church Annual Business Meeting November 18, 2012...Your generosity will result in thanksgiving to God. 2 Corinthians 9:11b (NIV)
Table of Contents I. Agenda 1 II. Minutes of Previous Meeting 2-3 III. Elder Leadership Team Report..... Don VanSickel 4 IV. Senior Pastor Report....Pastor Ted Duncan 5 V. Business Administrator s Report & Financial Statements...Mark Rutkoskie a. Business Administrator s Report 6-7 b. Comparative Statement of Financial Position 8 c. Comparative Statement of Support and Revenues over Expenses and Changes in Fund Balances 9 d. Comparative Statement of Support and Revenue over Expenses Projected For 2012 to 2012 Budget and 2013 Budget 10 VI. Budget for 2013 11 Pages
Agenda November 18, 2012 Pages I. Call to Order.. Don VanSickel II. III. Special Music..Pastor Rob Tompkins Opening Prayer.... Pastor Don Bertrand IV. Approval of 2011 Business Meeting Minutes........Don VanSickle 1-2 V. Introduction of Elder Team, Referencing Reports.....Don VanSickle VI. VII. VIII. IX. Confirmation of Elder Leadership Team Member. Daran Francis Financial Report & Adoption of New Budget...Terry Treiberg/Mark Rutkoskie Confirmation of Elder Leadership Team Member Results..Daran Francis Comments and Adjournment. Pastor Ted Duncan Page 1 of 11
Elders Present: ANNUAL BUSINESS MEETING - MINUTES Date: November 20, 2011 Time: 7:15 PM In Church Sanctuary Pastor Don Bertrand Jim Childress Pastor Ted Duncan Daran Francis Kent Scott Terry Treiberg Pastor Steve Truitt Don VanSickel Dan Vaughn Elders Absent: None Additional Pastors Present: Pastor Joe Drullard Pastor Troy Hess Pastor Mark Merical Staff Present: Jody Banducci Vince Eagle Paula Francis Shay Hess Dawn Merical Mark Rutkoskie Members Present: 125 Attendees I. There being a quorum, the meeting was called to order at 7:15 PM by Elder Team President Don VanSickel. II. III. IV. Don VanSickel introduced to the attendees all of the currently-serving Elders. Don referenced his Annual Elder Leadership Team Report and the Annual Pastor Leadership Team Report which were included in the packet that attendees received as they entered. Don VanSickel referenced the minutes of the 2010 Annual Business Meeting which were included in the aforementioned packet. Motion by Clint Morgan to accept the minutes as written in the aforementioned packet, seconded by Richard McBurnie. A voice vote was then held, unanimous approval. Current Elders Terry Treiberg and Dan Vaughn were presented to the attendees for reconfirmation for a new 3-year term. Voting was then done by paper ballot. Both Terry and Dan were approved by at least a 2/3 majority of the voters. V. Business Administrator Mark Rutkoskie referenced his written report contained within the aforementioned packet. He explained some of the key features of the report and the overall financial status of Calvary Bible Church. Mark answered one question from the attendees. Page 2 of 11
VI. VII. VIII. IX. Motion by Don VanSickle to approve the 2012 budget as presented in the aforementioned packet. Seconded by Tim Brandon. A voice vote was then taken. Unanimous approval. Pastor Don Bertrand gave a short report on staffing challenges for 2012, and explained some of the capital improvements and maintenance actions planned for 2012. Closing remarks by Pastor Ted Duncan, followed by closing prayer by Pastor Ted. Meeting Adjourned @ 8:05 PM. Page 3 of 11
Annual Elder Leadership Team Report Dear Church Membership, On behalf of the members of the Elder Leadership Team (E.L.T.), I would like to thank you for allowing us to serve Calvary Bible Church this past year - a year of many changes. It has been, and continues to be, our sincere and humble prayer as Elders that we would honor God in all that we do, and that He would bless Calvary Bible Church and use it to further His Kingdom. For those who may wonder what exactly an Elder is and what we are called to do, perhaps this will be helpful: Elders are called to be Shepherd leaders who protect, feed, lead, and care for the church flock. This simplified description is derived from the book entitled Biblical Eldership by Alexander Strauch, which our E.L.T. studied in depth this past year. As individuals, and as a team, we are attempting to apply the Biblical principles of Elder leadership in every discussion we have and decision we make, realizing the incredible responsibility that we shoulder. To that end, we sincerely covet your prayers. The numerous discussions and decisions made by the E.L.T. this past year covered the gamut from approving the hiring of a new Worship Pastor and Children s Ministries director to revising the CBC Operations Manual and assessing the church budget. The E.L.T. meets twice a month, and, as of August 9 th, the first of the two monthly sessions is completely devoted to prayer, thanks to the wise suggestion of Kent Scott. The second monthly session is devoted to furthering the Lord s vision for Calvary Bible Church, and ensuring the good stewardship of the many resources He has provided us. Additionally, the E.L.T. meets for two extensive planning sessions in spring and fall. At this time, and in accord with our By-laws, the Elder Leadership Team has a total of nine members and is currently comprised of three pastors and six laymen. In 2012, E.L.T. members were: Pastor Don Bertrand, Jim Childress, Pastor Ted Duncan, Daran Francis (Vice President), Kent Scott, Terry Treiberg (Treasurer), Pastor Steve Truitt, Don VanSickel (President), and Dan Vaughn (Secretary). Each of us is humbled and grateful to serve each of you as an Elder here at Calvary Bible Church. May the Lord be glorified in all that is done here. In His Service, Don VanSickel Page 4 of 11
Annual Senior Pastor Repost When I look back over this past year, the first thing that stands out to me is that it has been a year of major changes in our church staff; more so than in any other of the twenty-two years Marge and I have been here at Calvary Bible Church. It all started last year when Team Boston (comprised of many of our key staff members) departed to start a new ministry in Bean Town. And they were followed at the first of this year by Mark and Dawn Merical who resigned to begin a new chaplaincy ministry back East as well. Several support staff members also stepped down for various legitimate reasons, so by the end of the year, we had our work cut out for us. God, in His abiding faithfulness, has supplied just the right people in virtually all the spots left vacant, and we stand amazed at His divine provision. Troy and Shay Hess actually came on-board last year and have proved to be a godsend to our student ministries. Last spring, we welcomed Annette Mulligan as head of our children s ministry, and in the summer, Elaine Fidler was added to assist her in S.A.Y. Yes and other children s outreach endeavors. Those two ladies have added great life and creativity into that vital ministry. In June, Rob and Angela Tompkins came to revitalize our music and worship ministry and what a blessing they have been! To fill those vacant clerical positions, the Lord has given us Mindy Tharp, Gina Resnicke, and Diana Kane; and those ladies have more than filled the gaps that were there. The only remaining vacancy is perhaps the most important of all: that of Assistant Pastor in charge of Family Ministries. We thought we had it filled when we called Pastor Joe Drullard and his family, but his unexpected resignation in March put us back into the search mode. We had a candidate in August in Clarke Brogger, but our leadership team agreed unanimously that he just wasn t the right person to lead our church into the future when I step down from being the Senior Pastor. But now, at the close of the year, we are excited about the list of potential candidates we are considering for that position. And we are optimistic that the Lord will make the right person known to us real soon so we will be able to start the New Year with a complete staff, which will serve Him and His church together for many years to come. But, with all that said, what impresses me most about this past year is the sovereign love of our God and the faithfulness of His people. So many staff changes in one year would have run most churches on the rocks or out of business altogether. But our ministry has continued on without serious incident. In fact, we are seeing such amazing spiritual fruit in our ministries right now, we can only say, To God be the glory; great things He has done! I and our leadership teams here at CBC want to express our deepest appreciation to all of you for your love and steadfastness through these trying times. We re trusting the Lord for even greater things in the years to come, and we thank you in advance for your faithful participation and generous support. God s richest blessings on you all, Ted Duncan, Senior Pastor Page 5 of 11
Business Administrator Mark Rutkoskie Andrew Murray states, referencing Matt. 9:37-38, in a book of his best devotionals, Churches complain about the lack of workers and of funds to meet the needs of reaching out to the world. Christ calls us to united, unceasing prayer. God is faithful, by the power of His Spirit, to supply every need. This financial report reflects the prayer and heart of Calvary Bible Church in the midst of our nation s economic challenges. We are not without our own challenges, but you, our members have been faithful in your tithes and offerings so that we have met our needs. The joint effort and support of the office staff, pastors, elder members and the finance committee made this report possible; their assistance is greatly appreciated. Attendance and Giving: Average attendance for first service has held steady for the past year compared to 2011, however, second service has accounted for a 6.59% drop in our overall attendance to an average of 621. While many churches, especially on the west coast, have had to reduce staff and budgets over the last three years, our total giving for 2012 is slightly higher than 2011, as of October 31, but was lower than what we anticipated compared to our expenditure needs. Those needs were reduced by the various staffing gaps during the past year referenced in Pastor Ted s report, which enabled us to maintain a positive cash flow. General funding, which meets the internal expenses of the church (salaries, programs and activities, facility and administrative costs) for the coming year will need to be sustained at the projected 2012 level with a slight increase. Financial Statements: The attached reports show the financial position, revenues and expenses for the year ended December 31, 2010 & 2011 and the ten months ended October 31, 2012. The following is a simple cash recap for the December 31, 2011 and October 31, 2012 periods: 12/31/2011 10/31/2012 Total Revenue $ 2,173,596 $ 1,834,477 Less: Transfers from restricted funds (17,024) (28,302) Less: Total Expenses before Capital Expenses (2,142,876) (1,742,168) Net Revenue over Expenditures 13,696 64,007 Less: Debt (Manor) reduction, Interest & Capital outlays (124,489) (76,535) Add(Less): Net Change in non cash assets & liabilities 48,521 (18,378) Net decrease in cash funds (62,272) (30,906) Beginning Cash Balance at January, 1 164,570 102,298 Ending Cash Balance for Period 102,298 71,392 Cash balances include designated funds that have been designated for specific purposes such as future missions, programs, events and capital funds, which are not always fully spent in the year collected and carry over to cover expenditures in subsequent years. These funds and their activity are reflected in the designated columns in the reports on pages 9 & 10. Page 6 of 11
Capital Projects: The following capital projects have been completed to date: 1. Various-furnishings and equipment $ 4,836 2. Tent for Junk-a-tique 13,206 3. Re-carpet chapel classroom & replace ice machine 5,259 4. Complete improvements to children s theater 1,042 5. Replace stolen golf cart (net of insurance) 3,056 6. Various equipment and IT improvements 1,806 Total 2012 $ 29,205 The preliminary capital needs in the 2013 budget are as follows: 1. IT (Computers, etc) and facility equipment $ 8,500 2. Various-furniture and remodeling needs 15,400 Total 2013 $ 23,900 Additional capital projects that will be considered when funds are available and cost estimates have been obtained are painting the exterior stucco of the activities center and children s building and the possibility of installing a solar system. God continues to bless Calvary Bible Church because of our commitment to missions and outreach to the less fortunate in our community and the world. So far this year missions and outreach as a percentage of tithes and offerings plus designated gifts of $343,000 was 29.7%. However, a word of caution much of the work that contributes to our ability to provide the funds and work to the harvest field is from the internal ministry of Calvary Bible Church (salaries, programs that equip, facility and administrative costs). Meeting those needs will enable us to continue fulfill God s heart for missions and the less fortunate. In closing let me share a concept that we recently learned at a training workshop: Focused Intensity, over time, multiplied by God = Unstoppable Momentum! Yours in Christ, Mark Rutkoskie Page 7 of 11
COMPARATIVE STATEMENT OF FINANCIAL POSITION PERIOD ENDING OCTOBER 31, 2012, YEARS ENDING DECEMBER 31, 2010 AND 2011 ASSETS DECEMBER 31, OCTOBER 31, 2010 2011 2012 Current Assets Cash 80,989 42,959 25,908 Cash - Restricted 13,161 26,632 12,777 Charles Schwab Brokerage Acct-Restricted 70,420 32,707 32,707 Total Current Assets 164,570 102,298 71,392 Property and Equipment Land and Buildings 5,073,650 5,073,650 5,073,650 Men's Ministry Building 446,962 457,885 457,885 Furniture and Equipment 689,005 754,011 783,216 Less: Accumulated Depreciation -3,381,197-3,572,392-3,731,352 Total Property and Equipment (Net) 2,828,420 2,713,154 2,583,399 Other Assets Bonds Issuance Costs (Net of Amortization) 15,208 9,436 4,626 Prepaid Expenses 41,030 1,935 16,943 TOTAL ASSETS 3,049,228 2,826,823 2,676,360 LIABILITIES AND FUND BALANCE Current Liabilities Accrued Payroll Taxes and Interest Payable 2,260 14,674 14,140 Accounts Payable 53,575 50,587 47,751 Current Portion of Notes Payable - Manor 14,582 25,994 33,047 Total Current Liabilities 70,417 91,255 94,938 Long-Term Portion of Notes Notes Payable - Manor 348,081 307,042 268,712 Total Liabilities 418,498 398,297 363,650 General and Restricted Fund Balances 2,630,730 2,428,526 2,312,710 TOTAL LIABILITIES AND FUND BALANCE 3,049,228 2,826,823 2,676,360 Page 8 of 11
COMPARATIVE STATEMENT OF SUPPORT AND REVENUE OVER EXPENSES and CHANGES IN FUND BALANCES FOR YEAR ENDED DECEMBER 31, FOR PERIOD ENDED OCTOBER 31, 2010 2011 2012 General Designated Total General Designated Total General Designated Total Support and Revenue Tithes and Offering 1,321,303 1,321,303 1,313,910 1,313,910 1,190,725 1,190,725 Designated Giving 148,348 757,163 905,511 145,652 511,786 657,438 128,260 343,020 471,280 Other Receipts 31,682 31,682 30,639 30,639 29,385 29,385 Rents - Calvary Manor 174,085 174,085 171,609 171,609 143,087 143,087 Investment Income 7 7 0 0 0 Total Support and Revenue 1,675,425 757,163 2,432,588 1,661,810 511,786 2,173,596 1,491,457 343,020 1,834,477 Expenses Salaries and Benefits 830,576 830,576 863,502 863,502 698,523 698,523 Ministry Support and Giving 238,598 185,533 424,131 206,184 378,494 584,678 126,425 329,767 456,192 Programs and Activities 224,128 127,944 352,072 163,118 113,944 277,062 222,077 25,821 247,898 Facilities & General and Administrative 321,192 321,192 327,834 327,834 270,191 270,191 Calvary Manor 76,967 76,967 89,800 89,800 69,364 69,364 Total Expenses before Capital Expenses 1,691,461 313,477 2,004,938 1,650,438 492,438 2,142,876 1,386,580 355,588 1,742,168 Net Excess (Deficit) of Support and Revenues Over Expenses before Capital Expenses -16,036 443,686 427,650 11,372 19,348 30,720 104,877-12,568 92,309 Capital Expenses Interest 28,903 28,903 18,933 18,933 16,053 16,053 Depreciation 187,714 187,714 191,195 191,195 158,960 158,960 Amortization 5,772 5,772 5,772 5,772 4,810 4,810 Total Capital Expenses 222,389 0 222,389 215,900 0 215,900 179,823 0 179,823 Net Excess (Deficit) of Support and Revenue over Expense -238,425 443,686 205,261-204,528 19,348-185,180-74,946-12,568-87,514 Fund Balance at Beginning of Year 2,467,210 40,207 2,507,417 2,524,123 106,607 2,630,730 2,375,703 52,823 2,428,526 Less: Fund transfers to current year 295,338-377,286-81,948 56,108-73,132-17,024-10,030-18,272-28,302 Fund Balance at End of Year 2,524,123 106,607 2,630,730 2,375,703 52,823 2,428,526 2,290,727 21,983 2,312,710 OTHER CASH EXPENDITURES: Capital Outlays 430,528 75,929 29,205 Notes/Bond Reduction 69,311 29,627 31,277 Page 9 of 11
COMPARATIVE STATEMENT OF SUPPORT AND REVENUE OVER EXPENSES PROJECTED FOR 2012 TO 2012 BUDGET AND 2013 BUDGET FOR YEAR ENDED DECEMBER 31, ANNUAL BUDGET 2012 - PROJECTED 2012 - BUDGET 2013 General Designated Total General Designated Total General Designated Total Support and Revenue Tithes and Offering 1,448,585 1,448,585 1,567,649 1,567,649 1,469,740 1,469,740 Other Income 153,158 153,158 131,268 131,268 164,690 164,690 Designated Giving 66,372 362,178 428,550 126,307 190,000 316,307 27,600 195,000 222,600 Capital Improvements Fund 6,610 6,610 150,000 150,000 18,900 5,000 23,900 Rents - Calvary Manor 171,081 171,081 177,444 177,444 177,444 177,444 Total Support and Revenue 1,845,806 362,178 2,207,984 2,152,668 190,000 2,342,668 1,858,374 200,000 2,058,374 Expenses Salaries and Benefits 836,337 836,337 912,938 912,938 937,435 937,435 Missions Support and Outreach 200,951 407,313 608,264 268,853 190,000 458,853 200,841 185,000 385,841 Programs and Activities 223,242 223,242 308,660 308,660 210,725 10,000 220,725 Facilities & General and Administrative 323,769 323,769 334,773 334,773 294,122 294,122 Calvary Manor 85,744 85,744 85,214 85,214 76,041 76,041 Total Expenses before Capital Expenses 1,670,043 407,313 2,077,356 1,910,438 190,000 2,100,438 1,719,164 195,000 1,914,164 Net Excess (Deficit) of Support and Revenues Over Expenses before Capital Expenses 175,763-45,135 130,628 242,230 0 242,230 139,210 5,000 144,210 Capital Expenses Interest 20,124 20,124 39,687 39,687 17,263 17,263 Reserve account funding 10,000 10,000 0 70,000 70,000 Notes Payable Reduction 31,277 31,277 52,543 52,543 33,047 33,047 Capital Outlays 29,205 29,205 150,000 150,000 18,900 5,000 23,900 Total Capital Expenses 90,606 0 90,606 242,230 0 242,230 139,210 5,000 144,210 Net Excess (Deficit) of Support and Revenue over Expense 85,157-45,135 40,022 0 0 0 0 0 0 Page 10 11 of 11
Annual 2013 Budget Total Budget Budget - Designated Budget - General Revenue Tithes and General 1,469,740-1,469,740 Other Income 164,690 164,690 Missions-Designated 185,000 185,000 - Program-Designated 37,600 10,000 27,600 Manor Income - Rents 177,444-177,444 Capital Outlay Fund 23,900 5,000 18,900 Total Revenue 2,058,374 200,000 1,858,374 Expenditures Salaries and Benefits 937,435-937,435 Program and Ministry Expenses Senior & Executive Pastor Expense 4,777-4,777 Adult Ministries 16,400 10,000 6,400 Women's Ministries 21,178-21,178 Men's Ministries 11,315-11,315 Youth Ministries 32,671-32,671 Children's Ministries 46,413-46,413 Child Care Ministries 524-524 Music Ministries and Audio/Visual 29,330-29,330 Family Ministries 31,009-31,009 Food / Fellow ship 27,108-27,108 Missions and Outreach Supported Missions 334,400 185,000 149,400 Outreach Ministry 51,441-51,441 Facilities and General 294,122 (0) 294,122 Calvary Manor 76,041-76,041 Total expenditures 1,914,164 195,000 1,719,164 Net Revenue before Debt, Capital and Reserve Expenditrues 144,210 5,000 139,210 Debt, Capital and Reserve Expenditures Debt Interest - Manor 17,263-17,263 Debt Reduction - Manor 33,047-33,047 Capital Expenditures 23,900 5,000 18,900 Reserve account funding 70,000-70,000 Total Debt, Capital and Reserve expenditures 144,210 5,000 139,210 Net Revenue and expenditures 0 0 (0) Page 11 of 11