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Board Meeting Minutes June 2009

Friends of Chinese Reformed Theological Seminaries (Friends of CRTS)
A Pennsylvania non-profit supporting Chinese Reformed Theological Seminaries
Corporate Office: 2419 Trotter Drive, Allison Park PA 15101
2009 Board Meeting Minutes
Date: June 16, 2009
Place: Disney Coronado Hotel, Orlando, FL
Members Present: Chairman Dr. Andrew Silman, Vice Chairman Dr. Toon Yeo, Treasurer Julie McDougall, Dr. Bob Simonelli, TE Mark Thompson,
Members Excused: Dr. Paul Taylor, Secretary Linda Wohleber
Others Present: Asia Director Dr. Andrew McCafferty, Mrs. Priscilla McCafferty, TE Scott Lindsey, Mr. Glenn McDougall
The meeting was called to order at 9:07 AM and opened with devotion and prayer by Dr. Silman. A quorum was declared and Mark Thompson appointed as temporary scribe. The minutes of the 2008 meeting were approved. The 2009 Board Meeting Agenda was approved.
1.       The 2008 Financial Report was approved. The Board was reminded that all FCRTS Financial reports are available via the internet. Board members desiring access to certain financial information requires a password. The Board extended thanks to Treasurer Julie McDougall and Betty Hsia for their commitment to God’s work as FCRTS financial servants.
2.       The previously submitted Ministry Report for Dr. Ulrich was received. Dr. McCafferty
reported that the students have a great appreciation for Old Testament teaching and Dr. Ulrich’s love of the Scriptures. 
3.       The previously submitted Ministry Report for Dr. Yates was received. Dr. McCafferty
 stated that Dr. Yates recent CRTS assignments were both well received and well done.
 Elections and Resignations
1.        By common consent, the current slate was re-elected to office.
2.       Vice.Chairman Dr. Toon Yeo asked that New Business Motion 3 concerning his FCTRS Board resignation request be addressed. Pending approval, Dr. Yeo and his family will move to Taiwan to serve as CRTS faculty.   With regret and thanksgiving, the Board accepted Dr. Yeo’s resignation effective at the adjournment of the June 16, 2009 meeting. Dr. Yeo expressed his thanks to our Lord for his time on the FCRTS Board, and the Board prayed for Toon and his family.
3.       Chairman Silman expressed a need for additional Board members. He asked TE Scott Lindsay to serve, and TE Lindsay indicated he would. A motion was made and TE Scott Lindsay was unanimously elected. 
4.       After discussion, the Board instructed Drs. Silman and Yeo to contact TE Kenneth Woo, Associate Pastor of Grace Christian Church (PCA), Washington, DC, to discuss his joining the Board.
Old Business
1.       A general discussion of the FCRS General Assembly Booth, its costs and results, ensued.
2.       The Board authorized the Executive Committee to seek IRS approval to grant scholarships to all children of parents whose primary call is to teach at Reformed Chinese Seminary and who live in a location where no public education is available in the child’s original language. The Board approved the enabling motion of 2008.
3.       The Board ratified the following email votes from 2008-2009:
a.       Motion 1, October 4, 2008:
That Andy McCafferty be reimbursed $1000 out of FCRTS funds undesignated for the shipping of Dean Ulrich’s library from the US to Taiwan, which books will be donated to the CRTS Library.
b.       Motion 2, December 2, 2008 (Attached)
New Business
1.       Dr. McCafferty recommended FCRTS guideline VI.7 revision.
The current VI.7. reads: 
The Corporation prefers that the Seminary where the missionary teaches issues the formal call The Corporation will sign as the second of a joint call if so requested. If a presbytery requests that the call come primarily from the Corporation, we will normally comply.
By common consent the following paragraph was added to Section VI.7 as the next paragraph:
Before sending a missionary, the corporation must concur with the Seminary that the man is called to the work. We will begin with the presumption that the Seminary Board’s judgment is accurate. If we find reason to doubt the call, we will communicate our reservations with the Seminary Board. If we are asked to sign the call or issue the call, we will carry out a thorough investigation (i.e. one that does not begin with the presumption that the man is called.)
2.       Dr. Yeo addressed the FCRTS Board concerning his call as Professor of Practical Theology at
Chinese Reformed Theological Seminary (CRTS), Taipei, Taiwan. Toon, Pam and their three children, Zephaniah, Anna and Praisye plan to move to Taiwan in August. Pam is completing her degree in Biblical Counseling from Reformed Theological Seminary , Jackson, MS. Dr. Yeo advised that 55% of financial goals have been met. The Board required financial goals would be completed before moving. Treasurer McDougall and Dr. Toon briefly discussed transitional financial procedures.
3.       Per Dr. McCafferty’s recommendation, the Board joyously approved Dr. Yeo’s application to be a missionary candidate under the guidelines VI.2. Dr. Toon was thanked and congratulated by all present.
4.       Based upon Dr. McCafferty’s potential appointment to the Christ College Board of Directors, which is a CRTS feeder school and not directly involved in seminary education, the Board approved $3000 per year for his support commencing in September 2009. Said support assumes Dr. McCafferty is appointed.
5.       After review and discussion, the 2010 budgets submitted by Dr. Yates and Dr. McCafferty were approved. The Chair instructed Dr. Ulrich to submit a 2010 budget in similar form. Dr. Yeo committed to submitting a completed 2010 budget to the Executive Committee in the format provided.
6.       The Chair called upon Asia Director McCafferty to discuss the proposed 2010 FCRTS budget which was previously submitted vis email. Dr. McCafferty stated the 2010 budget proposal is aggressive and has a $21,400 deficit. The proposal includes $20,000 for the Christian Reformed Church (SeminaryBuilding), $6000 for RTF Press, $13,000 for China Mission, $3000 for Christ’s College and an $18,000 contribution to CRTS as payroll assistance for the three FCRTS approved fulltime CRTS faculty members. The above $59,000 is funded through $12,000 contributions by the Plains Presbyterian Church, about $8000 in contributions to the FCRTS funds (mostly from Board members), about $21,000 deficit spending from the McCafferty account, and about $18,000 of McCafferty income for his work at the Hong En Church. For the first two years, unless there are some major changes, this budget is workable. The third year may be more problematic as Dr. McCafferty may not continue at the Hong En Church, and he may no longer have a surplus in his account.   After discussion, the 2010 Budget was approved by common consent.
7.       By common consent, the Board approved a Board Handbook, which will assist new Board Members’ assimilation, fund raising and corporate governance. A draft copy was distributed to each Board member present.
The Board recessed for lunch. After reconvening, the following new business ensued:
8.       Dr. McCafferty suggested expanding the Asia Director responsibility as follows:
The Asia Director is the head of our Asia mission team. He shall be responsible to coordinate the work of our Asia missionaries, to see that they meet regularly for fellowship and mutual oversight, as required in our guidelines, and to discuss with missionaries any ministry suggestions or proposed changes in their ministry. The Asia Director shall be the liason between our missionaries and the Executive Board. However, he will not be involved in financial issues. Missionaries will send their annual financial request directly to the Executive Board/Director, and discuss with the Executive Board/Director any other financial issues. (Missionaries may communicate with the Treasurer about accounting or other insignificant issues, but all significant financial issues should be taken to the Executive Board/Director.)
By common consent the above suggestion was added to the Board Guidelines.
9.       The Chair instructed the Executive Committee to prepare the 2010 Board packets,
which have previously been compiled by Dr. McCafferty.
The Board adjourned with prayer.

 Attachment 1 -- Email Motion 2, December 2, 2008
Dear Pastor Andy S. and the Friends of CRTS Board,
This letter concerns the Finances of the Seminary. As mentioned at the 2008 Board meeting, the Seminary has new programs (distance learning, Th.M.) and new full time teachers (Dean Ulrich and Tim Yates).   Also, in the summer, CRTS spent US $10,000 on air conditioning for the basement. Finally, two of our major donors have cut back. As a result, our finances are tight. If things continue as they are, we will be at the $0 mark sometime around January and will be in the red next year.
In light of anticipated new expenses, at the 2008 Board meeting we passed the following motion:
1. Assuming that CRTS begins to support both Dr. Yates and Dr. Ulrich US $12,000 per year, to commit US $12,000 for CRTS in 2009, with a non-binding intention to continue this support.
2. To commit US $4,000 for the Southern Training Center in 2009, with a non-binding intention to seek long-term supporters for this training center beginning in 2010.
3. To commit US$6,000 for the GreatGraceRPChurch in 2009, with a non-binding intention to continue this for a total of 2 years, at which time GreatGracePCChurch will discuss supporting Dr. Yates.
4. To approve transfers of up to $40,000 from the McCafferty account to the CRTS account to help cover the cost of these programs for the next two years.
Explanation: The first year, the program will cost US$22,000. The plan for the second year is US$18,000. After this, the program will cost $12,000/year. Pledges to Dr. McCafferty are running about $12,000/year more than his financial requests. We hope to find additional supporters during these years as well.
In light of the financial need of CRTS, I would like to propose the following modifications:
1.       In the approved 2009 budget, Friends committed to $12,000 of the $20,000 contribution to the CRC (the Seminary being responsible for the other $8,000). I propose we commit Friends of CRTS to paying the entire $20,000. (Note: we have been paying the $20,000 all along, but we have been decreasing our contribution to Dr. McCafferty by US $8,000 and the Seminary has been paying Dr. McCafferty $8,000. By this motion, this arrangement will come to an end.)
2.       In the approved 2009 budget, we committed to $12,000 / year to the Seminary to help the Seminary pay full time teachers (Dr. Yates and Dr. Ulrich).   But the Seminary began paying Dr. Yates and Dr. Ulrich in September of 2008.   I propose that Friends move the beginning date of the support to September 2008 (that is, that we provide the Seminary with four months of this support (a total of US $4,000) in 2008.
3.       In the 2009 budget, we will begin supporting the Southern Training Center $4,000 / year for transportation costs. But the Seminary has been paying this expense since July of 2008. So I propose we provide the Seminary with US $2,000 to support this work for the last half of 2008.
The total new costs will be US $6,000 in 2008 (point 2 and 3 above), and US $8,000 in 2009 (point 1 above). This will be a great help to CRTS.   We have about $116,000 in our accounts. All of this is in Missionary accounts ( Ulrich $23,000, Yates $37,000, McCafferty $59,000) with the total in non-Missionary accounts (General fund, CRTS, China Mission, Reformed Press) slightly in the red. 
But both Tim and I are willing to transfer money from our accounts to the CRTS accounts to cover the cost of these programs.   Originally our 2009 budget had a $14,000 deficit –almost all of it in the McCafferty account (in light of the fact that the account has about $60,000 dollars in it). With this new US $8,000 spending, the deficit will go to about $22,000.    It is a lot, but we have $116,000. Furthermore, we usually get more in contributions than we have budgeted.   In 2014 we will finish our $20,000 a year donation to the CRC and so are fine long term. Finally, it is not much in light of the fact that it will be keeping the Southern Training Center, Eastern Seminary, the Reformed Press, and the Seminary up and running! With the new spending, the 2009 budget will look like this:
Friends of CRTS
Budget by Class with Explanations
January - December 2009
RTF Press
General Fund
   4000 Donations
      4010 Donations - special projects
   4100 Internal Class Transfer
   4500 Income - Interest Savings
Total Income
   6000 Charitable Contributions
      6005 Contributions - property acquisition
      6010 Contributions -special projects
   8000 Mission - business expenses
   8010 Fees - Banking, government, legal
   8030 Promotion - printing & mailing
   8040 Promotion - miscellaneous
   8050 Administration - travel & meals
   8060 Administration - printing & mailing
Total Expenses
Net Income
Notes on budget
1. ChinaMission Fund and RTF Fund
    China mission includes both the Eastern Seminary and Southern training center. Plain Presbyterian Church pledges $6000 for Eastern Seminary and $6000 for the Reformed Press. Dr. McCafferty has requested that $7,000 be transferred from his fund to China mission, $4000 for the Southern training center and $3,000 for Eastern Seminary. 
2. CRTS Fund and General Fund                    
The donation aims ($9,515 and $3,930) are more than we have received in previous years. Dr. McCafferty has requested $12,000 be transferred from his fund to the CRTS fund
3. Three Missionary funds
Dr. McCafferty has requested $6,000 be transferred from his fund to Dr. Yates fund. This is to help Dr. Yates due to his giving up his Friendship position, and in exchange for Dr. Yates helping Dr. McCafferty at the Great Grace Reformed Presbyterian Church. Dr. Yates may request this money be transferred to the CRTS fund instead.
Yours in Christ,
Andy McCafferty