WINTER 2008October 24, 2008
This minute will be considered at the December Quarterly MeetingThe Salem Quarter Finance Committee recognizes that the current quota system of using membership statistics to determine each monthly meeting’s level of financial support feels to some like a “head tax.” A covenant system is quite different. Each monthly meeting decides upon its level of quarterly meeting support in the upcoming year based upon that meeting’s financial capabilities and resources.
In fact, Salem Quarterly Meeting has had a de facto covenant system in place for a number of years. The Finance Committee determined a monthly meeting’s “fair share” based on the number of adult members. Then, each monthly meeting adjusted that amount up or down depending on that meeting’s financial capabilities and resources.
The Salem Quarter Finance Committee recommends that Salem Quarterly Meeting replace its current quota system with a covenant system to determine the amount of monthly meeting support of the Quarter’s budget beginning with the 2009/2010 fiscal year.
Each year, the Finance Committee will indicate the percentage increase in the SQM covenant needed over the previous year’s amount to support the Quarter’s programs. Monthly meetings can then decide the level of support they wish to contribute.
The Finance Committee suggests that this issue be revisited if the amount of the monthly meeting covenants falls below the level that will support the ministries of the Quarter and put the Quarter’s financial health in jeopardy.
The amount of each monthly meeting’s covenant must still be reported to the Assistant Treasurer of Salem Quarter no later than January 15.
For the Salem Quarter Finance Committee
Mike Ayars
Clerk of SQM Finance Committee
SQM Assistant TreasurerRETURN TO TABLE OF CONTENTS
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Saturday, November 22, 2008 at 04:02 PM
