Since we last fully reported to you in the spring, we will take this opportunity to inform and update you on several matters.
On the financial side, we reached the mid-year point with a relatively small deficit in the operating account, which we do not regard as unusual for this time of year as we work our way through the "lower" summer periods of late June, July and August. On the positive, the collection giving's have remained quite strong throughout the period, tracking very close to the budget projections. Given the prospect of a strong financial performance in the remaining four months of the year---particularly as the momentum of our 125th anniversary celebration builds---we still feel that our target of achieving a balancing of the 2011 operating budget is within reach. Parishioners who wish to examine the financial statements for the first six months may do so by calling the church office. Our treasurer, John Dalton, will supply copies and answer any of your questions.
We mentioned the anniversary and we would like to congratulate the members of our growth committee for all of their work in planning such an ambitious calendar of events and services for the anniversary year. The summer launch at the Patronal Festival Evensong and barbecue on July 28th was a remarkable success and we reiterate our thanks to the Windermere String Quartet for helping to make it such a special occasion. Elsewhere in this edition of the newsletter you will see coverage of other anniversary events; but, we should mention how much we are looking forward to the distinguished speaker series planned for January, February and March. It is exciting to contemplate that during five-week period our pulpit will be shared by the likes of Bishop Philip Poole, Archbishop Colin Johnson, former Archbishop Terrence Finlay and our MPP, Reverend Sheri DiNovo! Also, we acknowledge the contribution of the chair of our special events program, William Cowling, in assembling such an appealing series of Evensongs for the anniversary year---beginning with another appearance by the St. Peter's Erindale Choir on Sunday, September 25.
We can bring you news of a significant legacy receive by St. Olave's in June. From the estate of Doris Emily Flowers (sister of our late, beloved parishioner Gladys Kirk) we are now in receipt of $150,000---$75,000 to the Second Century Mission Fund and $75,000 for the church's general account. There will be a further installment to follow upon the completion the administration of the estate. For the moment at least, the general funds have been added to capital as part of our effort to continue to replenish this account we may choose to expend some of it on necessary improvements---the repair to the east wall (above the balcony) is something we should not postpone much longer. Also, we have resolved that the lower level---the Parish Hall and its corridors and stairwells---could use a good professional painting in order to freshen it for all the anniversary events to come.
We proceed with the normal management of the administration of the affairs of the parish. The essential removal of asbestos from the Rectory was accomplished in late June, with minimal disruption to the Rector and his family. In mid-July, we completed the Wardens' annual inspection of the Rectory property and our report has been rendered to the Diocese. There are some minor repairs that will be addressed and the refrigerator and stove are overdue for replacement, at a modest cost. As reported to you previously, we are dealing with all of the Auditor's recommendations tabled to us earlier in the year One of them, we are particularly pleased that Karen Bennedsen has generously agreed to provide voluntary bookkeeping services and this should be of significant benefit in the conduct of next year's audit.
Finally, we take pleasure in informing you that the Diocese has just advised us that they have approved our request for the appointment of Sister Mary Florence Liew as an Honorary Assistant to St. Olave's. As you know, she has done a splendid job in providing August vacation relief and we expect that the many friends she has made in the Parish will agree that she will be a valuable addition to our clerical team. Congratulations "Sister MFL".
We very much look forward to seeing you at our "Back to Church" festivities on September 11. Bring your friends---and your appetites---for the Parish picnic after the service.
Gord Rands -- Rector's Warden
Jim Shapland -- People's Warden
Sue Harris -- Deputy Warden
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