All:

 

Per our previous discussions, I am polling the board for authorization to make a one-time $7,500 payment to Rev. JR in lieu of a Sabattical Leave.  This payment will be taxable and $7,500 is the gross (before-tax).  You may note that we previously discussed $7000.  On large payments like this, the tax witholding is at a higher rate than normal, thus the additional $500 was added to give a better net payment.

 

We will make the payment as soon as possible after the polling is completed (provided we get a thumbs-up).  As additional information, our YTD Net Income, excluding building fund offering, is $10,362.15.  After this payment we will have just under $3000 of net income....if we can maintain that, we will have enough money to pay the remaining key staff some commesurate bonuses in the November timeframe.

 

In addition to the payment, I propose that we allocate an additional week of vacation to be taken at JR's discretion during the 2009 calendar year.  This additional week would consist of two sequential Sundays out of the Pulpit and the days in-between. 

 

Steve