Please join us this week as we welcome Rev. Paul Shields to our pulpit! 
Join us at 9:45am at the HS United Church of Christ, 116 Third Street, Holly Springs, NC  27540

“Made Humble”
Rev. Paul Shields

Scripture passages

 

Kirk of Kildaire Congregational Meeting (from the Kirk Krier)
Called for Sunday, February 5, 2017 following the 11:00 am worship (in Cary) 

The congregation will be asked to approve a loan for up to $2,164,000 for the construction of the new classroom building.  Note: This building  is estimated to have a total of 23,141 square feet which gives us an additional 9441 new square feet. If you would like additional information, please refer to the email sent to the congregation last week. You may also attend an informal question and answer meeting in the Fellowship Hall on Sunday at 9:45 am. Members of the finance team and the building team will be present. 

 

Frequently Asked Questions About the Classroom Building and Proposed Loan

Last Sunday, members of the congregation met with members of the Finance Team and Building Team. Here are the answers to some common questions we have received over the past week.  We would encourage you to continue to ask questions and to attend the last Q&A session this Sunday, February 5 at 9:45 am in the Fellowship Hall.

During the Stewardship campaign, the Kirk asked for a 25% increase in pledges in order to meet the anticipated payment for the loan on the new building, raises for personnel and additional funds for program and mission.  Now we are being asked to approve a loan for the new building, despite just a 7% increase in pledges for next year. Please explain how this is going to work.

• The 25% increase request was made up of two components: 15% to put towards the debt on the new building and 10% to put towards personnel, mission and programs.  In response to receiving a 7% increase in pledges, a leadership team from the building program met to discuss whether there were any alternative ways to move forward with a new education building.
• The essence of the new plan is to pay on the debt for the new building out of the funds collected during the capital campaigns instead of funding it out of the operating fund.  On the positive side, the need for the 15% increase in pledges is removed - the downside is that at the end of the second capital campaign the Kirk will owe more on the new building than had pledges increased by requested amount this year.

So how much are we talking about?

• It's best to consider this by looking at our debt in two parts over the length of the two capital campaigns (now through 2021):  the amount we still owe on the sanctuary building and the new debt we will incur to build the new education building.
• The current amount owed on the sanctuary building is about $1.4 million.  The Kirk will  continue to pay on this debt out of our operating expenses as we have done historically.  Based on our current interest rate and payments, we will still owe about $744,000 at the end of 2021.
• The projected debt on the education building is about $2.164 million.  Between capital funds already received, funds pledged and not yet received and funds  to be pledged and  collected from a second, successful capital campaign, we anticipate owing about $666,000 at the end of 2021.  During the second capital campaign, we will also build up our major maintenance reserves by $ 375,000.
• At the end of 2021, the Kirk will be left with a total debt of about $1.4 million ($744,000+$666,000).  This amount is manageable as it is the nearly the same balance we are currently paying for the sanctuary loan from the current annual operating budget.

And what about the 7% increase in pledges?  How will that be used?

• While the 2017 budget won't be finalized until Session meets in February, the Finance Committee has received guidance from Session that of the 7% ($89,900) increase in pledges, 75% of that amount be used for personnel, programs and mission with the remainder (25%) directed to pay interest during construction of the new education building.  
• Our plan is to move forward in building a new classroom building totaling 23,141 square feet. We will demolish the Activities building and old classroom building but will gain a net total of 9441 additional square feet after all is completed.

KOHS Missions team helping with Habitat for Humanity:
We have a new opportunity!  There is a second build that has begun on the same street in Holly Springs in February that we will support.  Our Missions Team participated in the wall raising ceremony for the second house on Saturday January 21.

 
 

Worship service Greeters needed!: 
If you have a warm smile, outgoing personality, and early to church we could use you to greet our worship goers on Sunday mornings.  See Bob Morris with the Worship Team.

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PASTORAL CONTACTS

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If you have a pastoral need you may:
Call the Kirk of Kildaire at 919-467-4944  or
Contact the “Pastor on Call” at the Kirk of Kildaire at 919-526-0569 (weekends and off-hours)