This is the second in a series of monthly updates on Capital Fund activity, sharing progress toward our Capital Campaign objectives. New financial reports about the Capital Fund for December 2015 and January 2016 are now available for download. Future reports will appear monthly with other reports from Finance on our Council page. For specific questions, contact council@sotv.org.
In February, Council approved the designation of $50,000 from the Capital Fund toward debt reduction, facility, and outreach. Based on the percentages effective 1/1/16, in February we paid 80% ($40,000) toward principal, allocated 15% ($7,500) to the facility, and allocated 5% ($2,500) to outreach.
As pledges are fulfilled each month, the Finance Leadership Team will review money available in the Capital Fund, and make a recommendation to Council to designate money toward debt reduction, the facility, and outreach. Any money allocated toward debt reduction will be paid that month towards our mortgage principal (beyond the amount due). Money allocated to facility or outreach will be held until enough has accumulated to fund the priorities set in each area. The congregation will be updated on expenditures connected to facilities and outreach priorities in this monthly update when applicable.
Your gifts are so important to achieving Capital Fund objectives, and helping live into our vision of “inviting all people to experience the Welcome, Transformation, and Sending of Jesus Christ.” Thank you for generously supporting the Capital Fund!
