VESTRY REPORT

Saint Michael and All Angels

Vestry Town Hall Meeting ~ May 14, 2006

Vestry Town Hall Meetings:

• The purpose of the Vestry Town Hall Meeting is for the Vestry to update the parish on various activities and to provide an opportunity for questions and feedback.
• Our first meeting was held on January 8^th and feedback from that meeting was very positive.
• We plan four meetings per year, and in addition to today, the remaining meetings for this year are in September and December.

Capital Campaign:

• C.A. and Sylvia are chairing our Capital Campaign with Rita and Bill Clements serving as honorary chairs.
• To date, the Campaign has raised just over $7 million toward a goal of $12.5 million.
• Now that we have the Michaelson property, we have set our sights on purchasing the street that currently divides our properties, and paying off the existing debt on the Lomo Alto office building.
• A separate handout is available to provide more information on this campaign.

Michaelson Property:

• The Michaelson property was purchased on April 18^th for $6.5 million.
• Capital Campaign receipts against pledges provided $3.5 million and the balance of $3.0 million was financed with Amegy Bank.
• We have concluded that we will continue to manage the apartments as rental property in the foreseeable future in order to retire the mortgage over the next four years.
• Bob Wilbur deserves our thanks and congratulations for a job well done!

Vestry Activities:

• Your new Vestry had their first retreat on March 10^th and 11^th. Most of our time together was spent on the Strategic Plan and on the establishment of our core values.
• Vestry liaisons have been assigned for all parish activities in order to provide effective representation for those activities at vestry meetings and to keep the Vestry more informed of needs and issues.
• Liaison reports will be submitted at each Vestry meeting.
• In February, your Vestry named The Rev. Chip Edens as the Interim Priest-in-Charge for Saint Michael and All Angels after consultation with the Bishop.
• At the request of the Mission and Outreach committee, the Easter Plate was divided equally between Jubilee Park and Community Center locally, support for clergy in the Mississippi coast area nationally, and the mission in Honduras internationally.

Stewardship:

• Our stewardship committee for 2007 has already begun its work. This year we are very fortunate to have Missy & David Boone and Kris & Larry Hawkins as our stewardship co-chairs.
• Julie Siegel, who has been so ably assisting the Capital Campaign, has joined our staff and will be assisting the Stewardship Campaign as well.

Vestry Initiatives:

· A separate handout is available updating the status of the Vestry initiatives on communication, governance, and management, delegation and control.

Rector Search Committee:

· We are very pleased that Rusty Smith and Nancy Solana have agreed to co-chair this vital activity of our parish. Other members of their committee are Jennifer Alexander, Mary Adair Dockery, Todd Howard, Effie McCullough, John McFarland, Anna Ramey, Charlie Sartain, Ann Sentilles, Jim Skochdopole, and Stewart Thomas. The Junior and Senior Wardens will serve as ex-officio members of this committee.

· Remember that this committee cannot officially conduct its business until June 1^st after Mark has officially retired.

Strategic Plan:

• Work continues on filling in the blanks on our Strategic Plan and on the financial implications of that plan.
• Your Vestry has begun the task of working with the Strategic Plan Committee to determine the implementation schedule of that plan.
• A separate handout is available for the Strategic Plan.

Conventions:

• With the able assistance of Sharon Alexander and Shelly Vescovo, we will provide several communication opportunities in an attempt to help our parishioners better understand the issues facing our national and local conventions.
• The first of these communications sessions will occur today.