FAST – the finance team’s work

As you recall FAST stands for Financial Analysis and Strategy Team. The FAST was appointed by the board of deacons and includes Brent Clark, former Pastor for Administration; Donna Coston, Business Office Director; Jamie Crandell, former deacon and statistician;  Ed Gaunt, Treasurer; Emily Williams, Church Administrator; and Bill Wismer, deacon and member of the budget team.

This team’s job is to research what our borrowing capacity is, what the cost of borrowing would be, how we will conduct a special giving campaign and how much we project we need to raise in that way, what the relationship between fundraising and borrowing should be, and what the timetable for all of this might be.

The team has met twice and has specific assignments for research and analysis. Our plan is to report to the boards of deacons and elders after our third (and final) meeting on July 7. The deacons will consider the FAST recommendations at their July meeting, and pass along their decision to the elders, who will come to a decision on the whole project. We anticipate that this decision will come by the end of August.

After that, assuming some sort of construction loan is part of the approach, a meeting of the membership will be called to approve entering into a loan, with the meeting probably coming in September.