June 2024 Capital Finance Team Updates
Lutheran Church of Hope – Building Hope for the Future
Capital Finance Team Notes
June 18, 2024 – 9:00 a.m.
Opening Prayer
Agenda items:
A. *Review status of available funds. **Status of retiring existing mortgage note.
* Bill shared a summary sheet of current funds and estimated
future giving. No funds were transferred to the Savings Account
in April. PScott will follow-up with Cheryl on facilitating a
transfer of additional funds to the restricted fund Savings Acct.
on a monthly or bi-monthly basis. The team agrees it should be
monitored weekly, and verified at least monthly.
* Current CD’s will roll over this month for another 6 month
term. APR is at 5%.
** Vic has been working on getting details on existing note to
work up amoritization schedules re: closing out the existing
note. PScott will check with Marlys on getting the loan
origination documents.
** Continuing discussion within this team on pros and cons of
closing the existing note. No decision has been made as of now.
B. Pledge Status:
a. New pledges
* Gifts consistent in last two months from one new giver;
another new giver has sent in a gift. No new Pledges.
C. Old Business: New Digital Sign
a. Electrical/Foundation complete. Mechanical Permit is
complete.
b. Installation complete except for the sign bottom “trim”.
c. EXEL has accepted the installation and seated the meter.
d. The sign has been energized – one light block has been
replaced.
e. Training is pending.
f. The Laptop Computer is working. The UHF radio
transmitter/receiver are being replaced. Hoping to have it
all running next week.
g. Landscaping may require some repair later this Spring.
D. New Business
a. Report: LCHope Building Committee progress.
* Work is continuing for schematic designs. Hoping for a
fall presentation to the congregation and voting. Pending
a passing vote, the permitting process could begin, and it
is a 9-12 month process to get permits in place.
E. Next Meeting: NO JULY MEETING
*August 20, 2024 at 9:00 a.m.
F. Closing Prayer