From the Finance Committee - November 1999

Where does the money come from for you to maintain your home? For many of us, there is a savings account that serves many purposes, not the least of which is covering unforeseen expenses of home maintenance, both inside and out. This includes replacing appliances, interior and exterior painting, or even repairing or replacing a leaking roof. Congregation Albert is no different. We, too, have a savings account. We call it the Building Fund.

The Building Fund, which at one time was known as the Capital Improvements Fund, is a requirement of our constitution. It was created to ensure that the necessary monies would be available to take care of our "home" as needs arise. Each new member is asked to pledge according to their means, with the board of trustees recommending a pledge of $2,000. Payment into the fund generally takes place over a five year period. While new members are asked to pledge when they join, actual payment doesn't begin until the second year of membership. Your board has sole responsibility for managing and approving expenditures from the Building Fund.

It is important to note that this fund is specifically used to make capital improvements to our building, which is our spiritual home and our extended family Jewish center. Examples of such improvements include repairing or replacing the roof; installing new landscaping; replacing kitchen appliances, such as our dishwasher; carpet replacement; and building additions.

To assist the board in ensuring the building is kept in tip top shape, we rely on our Facilities/House Committee to prioritize building and grounds needs. The committee brings their recommendations before the board for its consideration. The board, which has a fiduciary responsibility to all of us, deliberates and makes its decision based on facts and what is in the best interests of the congregation. Under active consideration for replacement is our building's roof, which is almost 16 years old and leaking. The Facilities/House Committee, which includes congregants who are expert in this area, is gathering facts and will soon make a recommendation to the board.

There are a number of other permanent and reserve funds, which will be discussed in future additions of this column. They include the Cemetery Fund, Endowment Fund, and numerous scholarship, music and landscaping funds.

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