Finance Committee
The Finance Committee is charged with nurturing the financial wellbeing of UUSG by ensuring its 
1. Recommend accounting processes, financial reports and money management practices.
2. Review monthly financial transactions and prepare reports.
3. Verify the reconciliation of bank account balances.
4. Coordinate the annual budgeting process for the Operating Budget and Building Improvement Budget.
5. Provide input and assistance on business affairs, e.g., property and liability insurance.
6. Oversee and recommend financial investments.
We currently have nine members on the committee. They come with varying degrees of accounting and business experience. We are always looking for new committee members who, at a minimum, will contribute their viewpoints and suggestions during our monthly Finance Committee meeting.
The committee meets every third Sunday of the month at 10:30 a.m.; and the meeting lasts about 1 ½ hours.
Contact Kevin O’Neill, Jim O’Malley or George Tattersfield for more information.
Account Descriptions
The Unitarian Universalist Society of Geneva (UUSG) relies on pledges and donations from its members and friends to pay for its religious and educational programs and operating expenses. These donations and pledges help us achieve our mission, which is to be a welcoming congregation that endeavors to make its Covenant a living reality.
We have organized our finances into two annual budgets and one endowment fund. Each has its own purpose that benefits UUSG in a unique way.
Operating Budget
Every organization needs money to pay for its day-to-day operations. Our operating expenses are organized into three categories: people, programs, and place.
The people portion of our operating expenses includes the salaries and benefits paid to our staff, i.e., our Ministers, Office Administrator, Child Care Staff, Custodians, and Musicians.
We also offer a wide variety of educational, community service, and pastoral care programs. For example, we offer worship services and religious education to children, teenagers, and adults. We provide financial and volunteer support to local service organizations such as the Lazarus House, the Pottawatomie Habitat for Humanity, and the Illinois Youth Center in St. Charles .
The place portion of our Operating Budget represents the expenses for keeping our facility open and maintained. This includes utility costs, insurance, and maintenance. The Operating Budget also makes an annual contribution to the Building Improvement Fund (described below).
The Operating Fund is planned and budgeted each year. Pledges from members and friends provide about 85% of our annual operating income. The remainder primarily comes from weekly in-service cash donations and fund raising projects (e.g., Cookie Walk and Swedish Days Pizza Booth).
Building Improvement Budget
Our sanctuary was built in 1843 and it is the oldest church in Geneva . Given the historical importance of the building, as well as its importance in supporting the ongoing activities of the congregation, we have a responsibility to maintain and improve it.
The Building Improvement Budget ensures money is available to make these improvements. For example, we have used this budget to make roof repairs, install a new telephone system, replace the gutters, and paint the exterior. We have also used it to improve the comfort and appearance of our common meeting space and classrooms.
The Building Improvement Budget, which is planned each year, receives money from three sources: the Operating Budget, the Elsa Ollsson Capital Endowment Fund (described below), and donations that are specifically targeted for this purpose.
Elsa Ollsson Capital Endowment Fund
For over 160 years, UUSG has provided spiritual and educational opportunities to its members and friends. Our Long Range Plan calls for the expansion of these services and the continuation of our mission. The Elsa Ollsson Capital Endowment Fund was established to help us realize our vision.
Each year a portion of the Fund is used to finance building improvement projects. However, the overall purpose is to provide a financial base that will be used to help us grow as our congregation grows, expand our impact in the community, and ensure we can continue to provide quality staff and programs.
The money in this Fund is invested in mutual funds. The Finance Committee manages these investments and has applied socially responsible investing (SRI) principles to ensure these investments align with our values.
The fund is named after Elsa Ollsson, a long-time member, who made a significant bequest to the church in 1991. In commemoration we created the Ollsson Trust. Then in 2007, we enhanced it with other funds and renamed it the Elsa Ollsson Capital Endowment Fund.
There are three sources of income to the Fund: targeted donations, bequests, and investment appreciation. Over the years we have received generous support from our members in the form of bequests and donations targeted specifically to this Fund.
Other Points of Interest
In 2004, we initiated a project to restore the exterior of the sanctuary. The acronym for the project was ROSE = Restore Our Sanctuary’s Exterior. The project involved restoring the bell tower, replacing the stucco siding, and improving the landscaping. We held a special pledge drive (called a capital campaign) to raise money for the project. As of December 2007, we received enough money from pledges and donations to fully pay for the project.
In 2007, we purchased property adjacent to ours. We received donations to help pay for it; however, a balance $115,000 is still outstanding. Over the next few years we’ll determine how best use the property.
Summary
UUSG strives to build a world community founded on justice, compassion, and peace, while providing religious, educational, and pastoral support to its members and friends. To support these ideals and achieve these goals, ongoing financial support is required. Our members and friends have the responsibility, and the privilege, to support UUSG through their pledges and donations.
We also encourage our members and friends to participate in a planned giving program where they can make periodic, targeted donations to the Building Improvement Budget and Elsa Ollsson Capital Endowment Fund.
Finally, we ask our members and friends to consider including UUSG in their estate planning. Your bequest can help us grow our existing endowment fund and provide the financial support needed to carry on the tradition and values of the UUSG for years to come.
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