January 2025 Capital Finance Team Updates
Lutheran Church of Hope – Building Hope for the Future
Capital Finance Team Notes
January 21, 2025 – 9:00 a.m.
1. Opening Prayer
2. In attendance: Vic Ramey, Bill Thieme, Marie Glover
3. Status Reports:
a.December 15, Congregational Meeting – Unanimously approved moving forward with the project by authorizing spending $532,000.00 + 5% ($26,600.00) for Pre-Construction/Bid Drawings and Documents as well for entering into formal contract with Berghaus Organ Builders. NOTE: The organ contract was finalized after the Congregational Meeting, which will require revising the spending plan, see (b) below.
b.Contract signed with Berghaus week of Dec. 22nd that allows them to accelerate the organ design and construction. Initial payment of $228,337.00 was made on Dec 31, 2024. Payments of 69,801.00 will continue monthly up to July 1, 2025, at which point 85% of the organ contract will be paid off.
Additional congregational approval will be needed to be able to allocate the funds for the contract March – July, TBD.
c.January 20, 2025, Combined Building/Capital Campaign/Organ meeting: An executive summary of the notes from this meeting can be found on the Building website.
4. Review status of excess Building Fund transfer to CD’s and the money market account.
a.Current CDs will expire end of February. The renewal of these will be addressed at the February meeting. Additional CDs will expire end of June.
5. Status of monthly reconciliations.
a.Waiting for 2024 year-end closing.
6. Pledge Status:
a.There are no new pledges at this time.
b.There were a large number of gifts from friends and family members In Memory of Phil Farley and Donnie Thomas in December and January.
c.There are a growing number of pledges that are being paid of and completed.
7. Status of Giving
a.Giving is on track with the projections generated in Walshware
8. New Business
a.Bill & Vic will sit in for Jan 26 New Partners class after church service. Marie will make sure there are brochures available.
b.Prayer Gathering fyi and information - Specific prayer requests are being solicited from each of the team leaders for the Building, Organ, and Finance teams to give direction to our church members for daily prayers specific to the building project.
c.Walshware update: Marie will contact Lisa Otto to get information on the status of renewing Walshware through at least the end of 2026.
9. Next Meeting: February 18 , 2025 at 9:00 a.m.
10. Closing Prayer