A special congregational meeting has been called for immediately after worship on Sunday, July 1.
The Property Ministry Team has been working hard at Old First. They have completed an assessment of the facilities needs in the church’s buildings, including the Main Church Building, the CE Building, and the Fox Office Building. Two of the main priorities that were listed were:
~ Repairs to the cornice of the Northeast corner of the Church Building where water damage has caused a hole and has a chance to cause futher damage.
~ Repairs to the bathrooms in the basement of the CE Building. These bathrooms are used by work camps and were not properly ventilated, causing mold. This needs to be remedied ASAP.
Given the positive financial position of the Church through the first 5 months of 2012 (breaking even, without taking any funds from the Interest on the Endowment), the Administration SLG has determined that the time is right to commence these repairs. The Property Team has obtained competitive quotes and is ready to engage vendors to make the repairs.
At this time, the Administration SLG is making the following motion:
MOTION: To approve repair expenditures as follows:
$12,000 for the Church Building Cornice Repair
$10,000 for the CE Bathroom Repairs
$ 4,500 (20%) Contingency Fund for both projects
The total expenditure for these projects would be $26,500. This would be funded by reducing the amount taken from the Endowment ($33,000 Budgeted) to $6,500 and using the remaining $26,500 (approved by our Endowment Manager) towards these capital expenses.
No additional borrowing (external nor internal) is required for these projects.
— Respectfully Submitted by the Administrative SLG, 6/13/2012