April 2024 Capital Finance Team Update

Lutheran Church of Hope – Building Hope for the Future

Capital Finance Team Notes

April 23, 2024 – 9:00 a.m.

One time change!

Opening Prayer

Agenda items:

A.     Review status of available funds

·      Doing pretty well.  We have collected 39% of the funds that have been pledged.  This will be included in the annual report.

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

·      Money in the 4 CDs are continuing.

·      Vectra account is at about $15,000.00.  Will transfer additional funds to money market as it grows, leaving an accessible amount of $15,000.00.

·      Money market at US Bank is at $214,000.00.

C.     Status of Dan’s ongoing reconciliation.

·      This will be discontinued as Dan takes on other roles.

D.    Status of Cheryl’s reconciliations.

·      These reports are a good report of where our funds stand.  They are sent to Bill & Vic monthly, and Bill is diligently working on making sure there is reconciliation each month.

E.     Pledge Status:  Any new pledges?

·      There is one new pledge today, and three additional visits are planned!

F.      Old Business: New Digital Sign

a.     Electrical/Foundation complete. Mechanical Permit is complete.

b.     Installation complete except for the sign top/bottom “trim”.

c.      ECEL has accepted the installation and seated the meter.

d.     The sign has been energized – one light block needs to be replaced. We have two spares.

e.     Training is pending for Natalie.

f.       Landscaping may require some repair later this Spring, but the snow and rainfall are doing a great job right now.

G.    New Business

a.     Report: LCHope Building Committee Meeting.

o   Running two possible working models for presentation to congregation with a 5-15 year plan for how to complete the plan.

o   Looking at lots of different options with materials, etc., that have been sent to the architects.

o   Will meet again on May 9th.

b.     There will be multiple opportunities  to reenergize campaign giving throughout the building process, ie groundbreaking, building milestones, etc.

c.      Status of the organ?

o   Letter of intent for the organ is signed.  The organ design will move forward after the building contract is finalized and contractors are moving forward.

H.    Next Meeting: May 21, 2024 at 9:00 a.m.

I.        Closing Prayer