October 2024 Capital Finance Team Updates

Lutheran Church of Hope – Building Hope for the Future

Capital Finance Team Notes

October 15, 2024 – 9:00 a.m.

Opening Prayer

Agenda items:

A.Review status of available funds.

• Gifts are steadily coming in. We have passed the $2.1 million mark. See below for Big Check Reveal
details.

B. Status Report: Joint meetings (Building/Organ/Finance) on October 3rd & 10th.

• John Bosio will be heading up this joint work group and will be spearheading a presentation for the
congregation. This is tentatively scheduled for late November, with two forums on Sundays prior.

• Still awaiting information from architects and vendors to create any kind of budget.

• Organ costs are also increasing as we await construction. These costs will be considered in the plan
John puts together with the team.

C. Review status of excess Building Fund transfer to CD’s and the money market account.

• Pastor met with Anna Jordan-Helser at U.S. Bank this morning to move additional funds into new CD’s.

D. Status of monthly reconciliations.

• The congregation hired an accounting firm to go through all of the church’s financial and accounting
practices. Everything is a bit “on hold” until we get their recommendations, and getting some current
numbers is going to have to wait.

• Bill presented a new version of his Potential Funds Available spreadsheet, dated 10/07/24.

E. Pledge Status:

a.New pledges

• Two additional pledges have been made to the Capital Campaign.

F. Old Business

a.Statement of Giving Letters

• These will be sent out on October 30th, if the report for September e-giving comes in a timely
manner. If not, the letters will be delayed until November.

G. New Business

a.October Building Hope blurb for eAnchor

• October 17th eAnchor is a tease to remind our membership how much was pledged during the
Capital Campaign push.

b.Logistics for Big Check Reveal

• PScott, Mac & Sandy will present a “Gifts Given to Building Hope for the Future” check to the
congregation during Announcements on Sunday, 10/20. The number on the check will be 2.1 M as a
round representation of all the gifts that have been given to date.

• The Big Check is in Pastor Scott’s office.

H. Next Meeting: November 19th, 2024 at 9:00 a.m.

Closing Prayer