Church Finances Letter

Dear Members and Friends of LUCC, 
 
Greetings to all from your advisors and financial team in this difficult time of the COVID-19 virus!
 
We have some good news and some concerns.  For the first six months, in spite of the coronavirus, we are slightly ahead on our income for the year, and our expenses have been slightly less than expected.  The majority of our members (almost ¾) are on track with their pledges, which is quite good considering that the virus has caused financial problems for many people.
 
Of course, loose offerings are down and some of our renters are not able to meet in our building at present.  We also have not seen any of the anticipated income from the adult daycare center built into our budget.  We are hoping that the needed modifications to the building will begin soon, and that as soon as possible, the fellowship hall will be ready for use.
 
We also have some good news from our application for a loan from the federal government.  We were approved, and we will receive a loan for $5,000 that will need to be paid back, beginning in one year.  But we also received an “advance” of $6,000 that does not need to be paid back.  This is intended primarily for payroll and utilities, and it will allow us to keep paying all of our employees, even if they are not able to perform all of their normal duties because of the shutdown.
 
We would like to remind everyone to do what they can to support LUCC, even when it is not possible to attend in person.  It is possible to send checks to the church or to pay by credit card at our website. This is also a time to remember possible contributions to the Special Needs Offering which we traditionally collect on the first Sunday of the month.  Or maybe loose change can be set aside for when we can return to fill up a special donation jar.
 
You are beloved!  And you are a blessing to LUCC and each other!  Stay safe!
 
Warm regards,
 
The financial team of Bill Parsons, Earl Waters, Don Ritchie, Lucille Ruga, and Mardie Chapman, and the Advisors:  Pattie Cooksey, Jane Diven, Olivia Gibson, Lucille Ruga, and Malcolm Wells.

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