|Financial Condition of Our Church
In an effort to provide Christ Church Winnetka Parishioners with periodic updates on the financial condition of our Church, we are now including periodic summaries of revenues and expenses in the weekly bulletin. As a reminder, Christ Church entered 2018 with a balanced budget. As of April 30, 2018, we are approximately $29,000 ahead of that budget. Earlier than expected pledge income contributed almost $14,000 to the year-to-date positive variance versus the budget, while expenses were lower than budget by about $15,000.
We have begun the process of refinancing the North Shore Community Bank (Wintrust) loan, which has a current balance of $188,000. As a reminder, the Schroeder building serves as collateral for the current 3-year, floating-rate loan. We expect to pursue several bids in our review process.
We are still working with the Park District to build the steps and ramp from the Lloyd Park parking lot to the sidewalk and the Vestry is hopeful that we can come to a mutually agreeable solution. Other projects underway include some maintenance and repair work to the Schroeder and 470 Maple buildings.
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