1. Refreshing Redeemer Building Reserves & Funding Operations 2014

2. 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

3. 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.

17. Building Reserves – Schedule & Cost Estimates

18. Funding 2014 Operations

19. 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!