ST. JAMES FINANCIAL UPDATE



CURRENT SITUATION:


.
Fr. Bill’s application to participate in the 
retirement program of the Church Pension Fund 
while being employed part-time at St. James 
was denied.
.
The choices now are:
.
Return Fr. Bill to full-time paid status
.
Continue to pay Fr. Bill as a part-time employee







CHOICES:


.
Fr. Bill leaves St. James for full-time 
employment elsewhere
.
Fr. Bill continues with part-time employment at 
St. James, but must come out of retirement
.
Fr. Bill continues in retirement, but must be 
employed part-time elsewhere other than at St. 
James




IMPLICATIONS:


.
Vacancy in position of Vicar at St. James –
Mission may call new Vicar; or
.
Continue to employee Fr. Bill as part-time 
employee, adding retirement costs; or
.
Re-employ Fr. Bill as full-time employee.




FINANCIAL IMPACT:


.
Option #1: Vacancy due to resignation of Vicar
.
Savings = $17,110 [$29,000 + 18% ÷2]
.
Replacement Cost = $17,110, less “transition”



.
Option #2: Continue part-time for Fr. Bill
.
Additional Cost = $2,610 (Retirement)







FINANCIAL IMPACT:


.
Option #3: Fr. Bill returns to full-time 
employment at St. James
.
Additional Cost: $19,720 (7/1 –12/31/2010)







SOURCES OF FUNDING:


.
Faith Savings Account: $36,655 (as of 
4/30/2010)
.
Increased giving: $19,720 (for 6 mos), or 
$3,287 per month
.
Budget reductions: To be determined
.
A combination of the above 




BISHOP’S PENTECOST LETTER


As we celebrate the great feast of Pentecost and 
enter this new season, I find myself thinking of 
that magnificent collect which we prayed at the 
start of Easter, and will pray again at the 
ordinations which usually come this time of year: 
"O God of unchangeable power and eternal light: 
Look favorably on your whole Church, that 
wonderful and sacred mystery; by the effectual 
working of your providence, carry out in tranquility 
the plan of salvation...."



BISHOP’S PENTECOST LETTER


This first part of the prayer reminds me that, just 
as the creation of the Church on that first 
Pentecost was a wonderful and sacred event, a 
great and holy surprise in God's unfolding plan, 
so it is in the continuing life of the 
Church.God's gracious dealings with us are 
marked by sacred surprises.In each of our 
congregations multiple manifestations of 
sacredness are there to be seen, often 
unexpectedly, and outside the usual places.



BISHOP’S LETTER


Throughout our life together are scattered many 
reminders of just what a wonderful and sacred 
mystery this Church really is.Wrapped in that 
mystery is the great gift of the Church's on-
going, unfolding life, guided by the Holy Spirit, 
marked by God's amazing grace and abiding 
love, and endowed with all things necessary to 
make our common life a truly "effectual" work, 
pleasing to God.



My prayer for us all this Pentecost is that we 
might become increasingly aware of how 
wonderful and sacred a thing our life together 
truly is.May we continue to grow as the people 
of God, in the power of the Holy Spirit, to 
become the Church we are called to be.And 
may we be alert to the Spirit's surprises.

Bishop Beisner

Pentecost, 2010



JAMES 1:2-4


“My brothers and sisters, whenever you face 
trials of any kind, consider it nothing but joy, 
because you know that the testing of your faith 
produces endurance; and let endurance have 
its full effect, so that you may be mature and 
complete, lacking in nothing.”



JAMES 1:5-6


“If any of you is lacking in wisdom, ask God, who 
gives to all generously and ungrudgingly, and it 
will be given you. But ask in faith, never 
doubting, ….. ….. …..”