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Financial Facts
Endowment · Current balance of the Endowment Fund is approximately $650,000 · 6% of a three year average of endowment assets is used as Trustees annual budget · 2006 budget = $39,258.30 · Some portion of this money has pre-specified uses or is directed to a restricted fund à Actual amount available for general maintenance is about $25,000 à $10,000 is spent annually on painting the exterior of the sanctuary à $15,000 is left to cover all other maintenance expenses and is inadequate
Physical Plant Needs Parsonage · Professional inspection by an engineer, August 2005; found to be structurally sound · Minimum maintenance to be addressed (amounts are estimates):
Electrical upgrade $2,000 Partial roof replacement 7,500 Chimney repointing 2,000 Interior painting (3rd flr & basement) 3,000 Insulation 2,000 Lolly columns 2,000 Exterior door replacement 3,000 Completion of window replacement 3,840 (12 @ $320) Total $25,340
Church House · No professional inspection · Minimum maintenance to be addressed (amounts are estimates):
Furnace replacement (professionally recommended in 2004) $ 7,500 Roof replacement (professional estimate in 2005) 22,000 Electrical upgrade 15,000 Window replacement 10,000 Total $54,500
· If above items are addressed, then additional upgrades should be considered to make the continued maintenance of this structure a worthwhile investment:
Waterproof basement to capture storage or meeting space $30,000 ?? Interior renovations and painting $20,000 ??
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