Refreshing Redeemer Building Reserves & Funding Operations 2014

Refreshing Redeemer - Summary Fundraising Target (Restricted Funds)$175,000 – Full participation from the Vestry – Kicking off the campaign with their donations totaling $27,200 Priority Uses: – Building Reserves: Building – Essential Upkeep~$130,000 Rectory Clean Up~$20,000 – Funding Operations: projected 2014 budget deficit~$33,000 Additional planned, but more discretionary, building upkeep items have been identified that would require additional reserves of ~23k; funds will be reserved as available based on needs for the essential items above Operating reserves brought forward into 2014 were minimal – approximately $10,000 Annual “sinking fund” contribution expected to be $10-15,000 in future budgets, to maintain adequate reserves

Building Reserves Our building has not incurred (or needed) significant maintenance or replacement investment since it was completed in 1999 Many mechanical systems are now at or nearing the end of their expected useful lives, as is the asphalt shingle roofing Exterior trim and stucco are also in need of repair and painting in order to prevent water and other damage The Rectory will require clean up – inside and outside – prior to any new use, and its primary systems are also past their expected useful life Building & Grounds Committee has completed an initial assessment of the condition of our existing buildings and expected investments that will be needed in the near term These investments do not assume any change in our infrastructure; they are investments needed to maintain what we currently have Photos and a summary of expected investments follows.

Building Reserves – Schedule & Cost Estimates

Funding 2014 Operations

Refreshing Redeemer – Our Ask of You We have exciting transitions in front of us – and believe this is the right time to put our financial house in order We are asking for donations or commitments over the next five weeks, with a goal of closing this effort by September 7 If donations cannot be made now, we ask that they be fulfilled no later than December 31, so they are not our focus as we welcome a new rector and go into a new year Please designate “RR” or “Refreshing Redeemer” on your checks. We welcome your questions and input, now and as we move forward!