Vestry Minutes – June 25, 2017

June 25, 2017
Present: Jim Bedell, Jack Bolerjack, Charles Busey, MaryBeth Butler, Courtney Mullaney, Ike Ogbue, Linda Seeber, Linda Snow, Joel Walker, Nancy Wieden, Kathy Wilkinson; Scot McComas, Rector; Glenda Morehead, Clerk; DJ Mitchell, Treasurer.
Not present: Norma Barbier.
Also present: Jim Hazel, Ron Hitchcock
A regular meeting of the Vestry of St. Martin-in-the-Fields Episcopal Church was held Sunday, June 25, 2017 in the East Parish Hall.  The meeting opened with prayer by the Rector at 12:25 PM.
Endowment Presentation
Jim Hazel of Baird Investments gave a recap of the performance of St. Martin’s funds that are currently invested with Baird, reminding the high rate of return on our investment should not be expected to continue. The market fluctuates, and is high at this time. He has extensive experience assisting non-profits with setting up endowments. Because of the complications associated with setting up a Foundation, his experience has shown that the best route for an investing entity particularly in the beginning is to set up Endowment Funds. The change from Fund to Foundation can come if or when experience with the matter seems to warrant it. A Foundation has a separate board of governors, its own bylaws, etc. A Fund remains under the direction of the vestry, the board governing the parish. Frequently the day to day oversight of the Fund is handled by a subcommittee of the vestry, which reports to and makes recommendations to the vestry. Hazel offered his help to St. Martin’s in the preliminary work to set up an Endowment, much as he did in setting up our Capital Campaign Fund investment.
Endowment Committee Formed: A committee will meet with Jim Hazel to formulate recommendations for the vestry for setting up an endowment for St. Martin’s, and report back to the vestry at the September vestry meeting. The following will serve as the committee to work with Jim Hazel: Scot McComas, DJ Mitchell, Linda Snow, Jack Bolerjack. Anyone who wishes to make suggestions to the committee should contact Jim Hazel or DJ Mitchell.
Labyrinth Update and Vote
Ron Hitchcock reported that he has received a new bid from SolCrete for construction of St. Martin’s labyrinth as previously approved by vestry vote. (See attached bid and the vestry minutes of May 28, 2017.) Courtney Mullaney moved the vestry approve the use of up to $1,985.97 from the temporarily restricted Eagle Scout Fund as needed to complete the project. Jack Bolerjack seconded the motion, and the motion carried.
Consideration of Minutes
Kathy Wilkinson moved the minutes of the May 28, 2017 vestry meeting be approved as distributed. Linda Seeber seconded the motion, and the motion carried.
Treasurer’s Report
The Treasurer reviewed the monthly financial reports including his notes.  (See attached.) He explained the process by which he makes his conclusions as to projections on income and expenses. He reminded the vestry that a vestry has the power to vote to use monies in Temporarily Restricted Funds for a purpose other than that designated in their titles. When the vestry votes to do so, the tr funds are used first, the general fund for any remaining balance.
St. Martin’s Episcopal School
Fifty five students are currently enrolled for the fall term.
Diocesan Information
The written reports are attached and made a part of these minutes.
Junior Warden’s Report
New West-Facing Doors on the School Building: Jr. Warden Charles Busey announced that the new doors are keyed the same as the outside doors on the office area of the church building. He recommended that all church leaders who need access to both buildings check their current keys to ensure they work on all doors. If not, new keys are available for their use.
Water Meter Update: Busey has discovered that more research is needed regarding the current water lines before any changes are made and new water meters installed. He plans to provide further information at the July meeting.
Playground Update: Neil Rinker will put in the new border in the next few weeks. Pea gravel will be used as the playground base which will be at the depth required by the licensing entity. All the work is to be completed by the time school starts again in August.
Senior Warden’s Report
The Senior Warden had nothing new to report.
Rector’s Report
Memorial Garden Committee Appointed: The rector announced that he has appointed the following members of the Memorial Garden Committee – Cathy Tolliver, chair, Charles Busey, MaryBeth Butler, Rich Lantz, Sue Mitchell, Becky Snell, and himself. The committee will research to create a proposed fee schedule for vestry consideration.
Columbarium Agreement Approved: In the vestry discussion regarding the proposed columbarium agreement it was pointed out that some of the wording caused confusion as to the physical location of St. Martin’s property. MaryBeth Butler moved the columbarium agreement – with the necessary wording changes to show the physical property location as Southlake, TX – be approved by the vestry. Nancy Wieden seconded the motion, and the motion carried. The rector stated he will see that the agreement wording is changed as required.
Eagle Scout Projects: Both Max Tiemann and Alex Pradhan are interested in doing Eagle Scout projects for St. Martin’s. Tiemann is considering constructing the walkway to the labyrinth using the bricks purchased for that purpose. Pradhan has no specific project in mind at this time and requests suggestions from vestry members. Neither one is ready yet to make a formal presentation for consideration by the vestry. Jack Bolerjack will act as vestry liaison to either or both of the young men as they work to reach the Eagle Scout Project milestone.
Announcements / Upcoming Events
Audit of 2016 Financial Records – July 22  9 AM
The meeting adjourned at 2:45 PM with prayer by Ike Ogbue.
Respectfully submitted,
Glenda Morehead
Please note:  Next regular vestry meeting Sunday, july 16, 2017, 12:15 PM, East parish Hall.