Property Reserve Account – $1,000,000
The Property Committee and the Finance Committee used past property expense records and the longer-term estimates of a property consultant to arrive at a target for the Property Reserve Account. With the immediate property needs being met, this account will fund our longer-term needs of routine maintenance, repair, and replacement over the next two to nine years. Examples of longer-term replacement expenditures include carpet, painting, kitchen appliances and organ maintenance.
This intermediate reserve account is designed to allow us to meet the predictable and unexpected property needs that will arise over the next ten years. The funding can be planned for and spent according to a reasonable, sustainable schedule. This enables the pledge and plate revenues so generously given by our parishioners to be dedicated toward the mission and outreach of our church, while giving everyone the peace of mind that we have sufficient reserves to address replacement and maintenance needs. At this writing, we have $170,000 in property reserves, not an adequate amount to cover $1,000,000 in expected needs in years two through nine.