Finance Update
Finance Update – The finance committee met on Tuesday, July 18th, where a lot of Holy Covenant business was discussed. In our continuing efforts to increase transparency, we are providing the following updates. Run the Race – Retire the Debt Campaign – We continue to receive a few more pledge cards from people committing to retire our debt. As of June 30, 2017, the total debt outstanding for HCUMC was $116,314.26, and we have paid $27,380 in principal reduction since January. After tallying the pledge cards from the Run the Race campaign, around $64,000 has been pledged to further reduce the debt. The pledges represent commitments from 43 households, and represent over 55% of the current outstanding principal balance. We also continue to receive payments from people who did not complete a pledge card. Please see item 4 for additional information on our mortgage and a much-needed capital improvement. It … Read More