Tim’s Call and It’s Breakdown

As you prepare for the congregational meeting, here is the language of the call we will be voting on:

Timothy Wayne Flora,

The congregation of Living Hope Presbyterian Church being, on sufficient grounds, well satisfied with the ministerial qualifications of you Timothy Flora, and having good hopes that your ministrations in the gospel will be profitable to our spiritual interests, do earnestly call and desire you to undertake the pastoral office in said congregation; promising you in the discharge of your duty all proper support, encouragement, and obedience in the Lord. And that you may be free from worldly care and employment, we promise and oblige ourselves to pay you the annual sum of $125,847, including medical and hospitalization premiums and a pension, during the time of your being and continuing a regular pastor of this church, as well as four weeks of vacation each year.

Here is a breakdown of that figure.

Paycheck
   Housing $28,521
   Salary Starting Point $50,215
      + Vehicle $5,400
      + Computer & Cell Phone $2,107
      + Disability Insurance $0
Reimbursable Expenses
   Mileage Reimbursement $0
   Books $900
   Continuing Education $1,000
   Other Considerations $0
Hidden Costs
   FICA & SECA Contribution $6,468
   Employer’s Pension Contribution $6,036.96
   Medical Coverage $24,000
   Life Insurance $1,200
Total Cost of Compensation $125,847
Tim’s “Salary” in the colloquial sense $86,242

The housing number is a bit low because Tim purchased his home before the housing spike.  We will keep our eyes on his housing situation and make adjustments as necessary over the years.  But we are providentially blessed by this low number, which makes this call doable for us.

The life insurance may also need to be increased eventually, but this should get him started.

The health insurance number is close.  It should give us room to pursue good coverage.  We won’t know actual costs until we acquire the insurance.

Currently, I’m paying for disability insurance.  Eventually, we should consider adding that in for both Tim and I.

In terms of adjusting the budget, we need to add $41,949.16 to the 2015 budget, which represents ⅓ (September-December) of the annual added cost ($125,847) of having Tim on staff.

 

So, we will first vote to call Tim.  Then we will vote to approve the budget adjustment, should the former vote require it.

Thank you for your faithfulness and your prayerful attention to this very significant moment in the history of Living Hope,

Clark