About eight years ago, Auburn First Baptist Church completed a capital campaign, raising funds to address facility needs. The campaign was called Renovation and Renewal, addressing small and large projects. There were major construction projects as well as cosmetic painting, which were completed, renewing our spirits and renovating our buildings. As part of the campaign, the church voted to borrow $150,000 from its Capital Improvements Trust Fund, making a commitment to pay those funds back.
Starting three years ago, we were in a place to address this debt. Due to our surpluses at the year-end of 2015, 2016, and 2017, along with our Building Sanctuary campaign, which also replaced the ceiling in the sanctuary, we have been repaying those funds. Recently, the Deacons and the congregation voted to reallocate surplus funds from our Yates Trust Fund and a portion of the payment from our interest in the BSU property to finish repaying those funds. The Yates Fund pays for our Sunday School curriculum, but over the years, we have accrued more funds than have been necessary for our curriculum expenses.
We want to express our gratitude for having paid off this debt to ourselves from Renovation and Renewal! The church has demonstrated a steady commitment, which will benefit us in the future. As we focus on maintaining our facilities going forward, having repaid this debt allows us to plan for future needs.
The Deacons and congregation have also approved to allocate a major portion of the payment from our interest in the BSU property towards the replacement of our HVAC systems, which will take place in the upcoming years. The $80,000 allocated for this expense does not cover the entire cost, but it is a major step in a good direction. We also voted to use the other portion of this payment for catalytic ministry projects and specific upcoming needs, including outreach, college ministry, and the renovation of our organ, which will be necessary in the future.
We celebrate this milestone, looking forward to the journey together, as we continue to minister from our outpost at the corner of College Street and Glenn Avenue!