Capital “Ask” Pledges to Pay Off Debt

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This is a follow-up to my newsletter article last month regarding our Capital “Ask” to pay off our remaining debt.  Two issues have come up in the last month that I would like to call your attention to.  Our Capital “Ask” campaign is during the month of August, and you should have received information on the campaign in the mail.  In case you did not, the letter and pledge card we sent out are located on the visitor and newcomers table in the hallway.

I have been asked, “What happens if we raise less than the goal of $60,000 and what happens if we raise more?”  If we raise less than the $60,000 goal we will simple pay off less of the mortgage.  If we raise more pledges than the $60,000 goal then we have several capital projects to fund.

In the last month, four of our six furnaces in the church have failed.  As many of you also know, the furnace system and the air conditioning systems (4 air conditioners) work together, and we have not had air conditioning in the chapel for the last two weeks.  We are in the process of replacing four furnaces and the total bill will be approximately $12,600.  Fortunately, in the last Capital Campaign we designated 15% of the proceeds to a fund for furnace repair, and we have about $9,200 in that account.  We anticipate we will fund the remaining cost for the new furnaces out of operating funds.  However, we now recognize we have not maintained our HVAC system as well as we should have (this includes water heaters, furnaces, and air conditioners) and we may have some additional expenses as we fully evaluate this system.
 
Therefore, any additional money pledged over our $60,000 goal can be used for repairs to our HVAC system.  In addition, we have some church painting we would like to do and we are approaching the life of the carpet in the parish hall and hallways.  As most of you know, to maintain a church the age of Good Shepherd will require continued capital expenditures. 

Thank you for participating in our Capital “Ask” program, and we are hoping to finally be able to pay off our debt (mortgage) which we have been working to pay off for 14 years.