APPENDIX J

REPORT OF THE BOARD OF FINANCE

MEETING IN HUNTSVILLE, TEXAS ON AUGUST 24, 2013

MINUTES

Board members present were: Chairman Brian Martin (Concord), Ruben Albarracin (Nueva Vida), Ethel Benedict (Bertram), Perry Bone (Stone Oak), James Cantey (Elmira Chapel), David Dean (Marshall), Suzanne Dougherty (Concord), Marcia Ross (Pine Tree) and Rose Mary Magrill (Marshall). Stated Clerk Paula Hayes was present at the meeting. The meeting was called to order by the chairman.

Opening prayer was by James Cantey.

Communications

• There was discussion concerning a request from Shelby Gardner, Sr., President of the Bethany Cemetery Board, that Trinity Presbytery consider donating the Bethany Cumberland Presbyterian church manse and land to the Bethany Cemetery Board. The Trustees will handle this request.
• There was discussion concerning an unemployed minister, Sharon Bowers, who is currently receiving health benefits from the presbytery. The Task Force is following up on this situation and will obtain further information.

Bethany and Faith Properties

There was discussion regarding each of these properties. The Trustees will deal with each property individually. (Please refer to minutes of the meeting of the Board of Trustees on this same date.)

Stone Oak Loan Evaluation

The Board met with the Rev. Kevin Colvard, pastor of the Stone Oak CP Church. Stone Oak has agreed with Frost National Bank on a loan with more favorable terms than their previous loan; i.e. fixed rate 15-year loan with no balloon payment.

Transfer of Funds

Upon motion, the Board approved the transfer of $7,325.37 from 101012 CFM-Sunnyside to 101013 CFM-Trinity GA Reserve to be used for delegate expense to the General Assembly meeting in Colombia in 2015.

Financial Overview

The apportionment payment list as of June 30, 2013 was reviewed church-by-church. At that time only 33.89% of apportionments had been paid.

The financial statements as of June 30, 2013 were reviewed and discussed. There is a major shortfall ($64,411.87), mostly due to the payment of property taxes for Nueva Vida.

Funding of New Evangelism Position

Upon motion, contingent upon presbyterial action, $40,000 for the position of Director of Evangelism and Outreach for the 2014 budget year will be funded from 101011 St. Paul Interest Growth/Income.

2014 Budget

Requests from each of the boards and committees were reviewed and discussed.

Recommendation 1: the board recommends that the following budget in the amount of $459,345 be adopted by presbytery for 2014.

Recommendation 2: the board recommends that the following apportionments in the amount of $419,345.01 be adopted by presbytery for 2014.

The meeting was closed with prayer by David Dean.

Respectfully submitted: Ethel Benedict, Secretary