Financial Update & New Capital Projects
May 11th, 2007 by bob
Last week you gave
• $67,099 towards the Fellowship Ministry Budget
• $2,727 for short-term mission trips
Giving so far this year through Sun, May 6
• $1,032,200 for the Ministry Budget.
Our target was $1,042,800.
• $40,180 for short-term mission trips. Our target is $89,250.
Giving Needs for May 2007
• $51,800 per week for the four Sundays in May
We have two large capital improvement projects on the near horizon. They are not included in the 2007 Ministry Spending Plan, but they are essential to our practice of good stewardship. We’ve set up a Capital Improvements Fund to help cover the costs associated with both projects.
- The first project is some extensive roof repair. You may have noticed rust spots on our green metal roof. Over the next two months these will be cleaned, sanded, sealed with a bonding agent and the roof repainted with a new shiny green coat of marine paint guaranteed to last ten years. The cost of this process is $87,800. That may seem like a lot but we believe it to be the best solution to maintain the integrity of the roof as well as the distinctive green color.
- The second project is to purchase the modular building. We currently lease the modular. When it was first installed, we planned to use it for three years while we built more permanent education space. After a year’s use we now know that planning and building for the future will take longer than three years, and that we may always have a need for a modular space. Therefore it makes better stewardship sense to own the modular than to lease it. The elders voted to purchase the building for $48,000. (Making the purchase now will save $6,000 in lease payments in 2007 so the net amount for the year will be $42,000.)
What does all of this mean? These two projects will cost the church $129,800.
- $20,500 of this amount will be covered by excess giving from 2006.
- Another $45,000 is expected to come in from the sale of donated property located in Maryville, Tennessee.
- The remaining $64,300 will come from operation reserve funds.
To offset the use of these reserve funds we have established a Capital Improvements Fund to receive contributions towards these two projects. Please consider making a donation above and beyond your tithe or regular offering to the Capital Improvements Fund.
