Thursday, October 29, 2009

3rd Quarter 09 GGB Finance Update: As of 3rd Quarter 2009, income is 4% under budget. Through careful stewardship, planned expenditures have been reduced or eliminated to a level of 6% below budget. YTD September 30, 2009 actual giving is $240,150 and expenses are $232,908. The balance outstanding on the building mortgage is $486,489. We have retired $42,548 of principal in 2009. The building mortgage was refinanced in October 2009 with a scheduled payoff in October 2024. However if we continue making the current payment, the projected payoff is in September 2017. If anyone has any questions and/or comments, please feel free to forward those to the office or speak to any of the following members of the finance team: Monty Stump, Jon Hein, Dennis Light, Linda Fourman or Katie McKee.

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