July 2008 Financial Update

Over the last 7 months, we have experienced shortfalls in the monthly Growing In Faith giving. To make up for these shortfalls, we have been using money that has been set aside for property development. However, little by little this development “nest egg” has been depleted.
Because we don’t want to lose the property, we will continue moving development money toward making the monthly payments if the giving continues to fall short. But, this is going to mean a significant slow-down (maybe even a complete stop) to the county approval process.
The good news is that we have made good progress so far. The not-so-good news is that the development money being used to subsidize the monthly payment wont last much longer at the rate it is being used up.

There are two ways you can help:

1. Pray. Ask God for His strength to keep us strong in our commitments and for His abundance to provide more than we could ask for or imagine.
2. Give. If you are not giving toward Growing In Faith, pray about becoming a partner in this project.

The total July GIF giving was $6,062.00. That means we were short by about $6,000.00.

July GIF giving $6,062.00
Minimum to “pay bills” $12,000.00
Difference ($5,938.00)

June 2008 Financial Update

As you know, each month, as the Growing In Faith giving comes in, an amount is set aside for the monthly mortgage payment, cumulative taxes, project management, association dues, insurance, etc. This amount is approximately $12000.00. The total June GIF giving was $9,877.07. That means we were short by about $2,100.00.

Even though June marks our sixth consecutive month with a deficit, we have been able to move forward in spite of this continuing shortage. This is because of the equity that has built up in our property. However, our development "nest egg" is being slowly used up to cover the monthly shortfall.

June GIF giving $9,877.00
Minimum to “pay bills” $12,000.00
Difference ($2,123.00)

Please pray for God's blessing as we continue to move forward.

Steady Progress

Here is the latest update on the plot plan status. As we have been responding to some earlier denials, you will notice that some of them have turned into approvals!
Click the image for a larger view.
Please don't forget to keep the Growing Faith Project in your prayers!