1. Church Finances Rectory

2.  Cost of building our New Church ~$8,000,000  Balance due as of 2-29-12 was $1,979,201  $2,200,000 Swap Loan Terms ◦ Balloon payment of $1,430,806 due 9-1-18 ◦ Extremely high cost for earlier pay off  Will need another Capital Campaign Drive Thank You Parishioners!!!! 75% Done --- 25% to go

3.  Capital Campaign Contribution $4,814,982 ◦ Including pledges, fundraising, interest income, debt reduction income, sale of old rectory, sale of small items and other misc. income.  Sale of Old Church $1,500,000  Paid off loans $500,000 We have come a long way!!!!!!!

4.  Would require an advance payment of as much as $490,000 to get out of swap and would add more than $200,000 in total interest expense.  Balloon payment of $1,430,806 on 9-1-18  Refinance balance in 2018 if not paid off Too costly to refinance early

5. As of 2-29-12, we have $300,000 in the bank for the balloon payment We have 6 years and 6 months to raise $1,679,201. This would cover the entire amount due, including the balloon payment. $4,968.05 per week in Capital Campaign contributions would pay off our debt by 9-1-18 $10 per week from 650 parish families will do it!

6.  History  3 Options

7.  Purchase of 35 acres with a house  Establish a Catholic campus… Church, Rectory, School, etc.  2011 Rectory is deemed unlivable Three Options

8.  Keep renting  Build on church property  Buy a house within parish boundary Cost effectiveness based on current financial status

9.  No added debt  Pressure on operating budget  Rent monies gone – no equity Buys Time

10.  Adds debt  Eases up pressure on operating budget  Own an asset  Follows original vision of land purchase (remember-visions are dynamic)  Needs long term vision on what to build  Needs capital campaign Will take time and planning

11.  Adds debt  Eases up pressure on operating budget  Own an asset  Needs capital campaign ◦ Short one for down payment ◦ Church and Rectory treated as one debt Flexibility: could sell later and build when ready