Forgive us our debts as we forgive our debtors

That’s the more Presbyterian version of the line in The Lord’s Prayer. With the closing and funding of our land sale, this line took on a new meaning for me in this season of Lent and confession.

With the stroke of a pen, the $3.5 million of long-term debt that we were carrying as a church was reduced to $750,000 – a long-held desire by our church for 20 years since the purchase of this property and the construction of its buildings. Without the sale and with higher interest rates, our debt service for 2024 would have been more than $210,000. With the reduction of debt, our debt service will be $64,500.  A portion of the sale will go toward the costs of a new Yardbird shed and storage space, architectural fees, and incidental costs like temporary storage. The remainder of the sales will remain in an interest-bearing account with Texas Methodist Foundation which we can use only for capital replacement or new work. It is NOT money we can use for our budget, i.e. personnel, program costs, utilities, etc. 

What is the upshot of this?

Though Easter/Christmas has come early for FUMC Plano, the impact on our budget is small and the need for all of us to maintain our giving remains. The proceeds buy us time as a church while we work to create a new “business model” that is sustainable long-term. Our Futurist Team and Finance Team will be studying the issues involved, such as greater rental use, in the months ahead as we want to be God’s very best stewards of this good gift and of all our gifts that enable Christ’s love to be shared in effective and transformative ways.  Thank you for your prayers, thank you for your support, and thank God from whom all blessings flow!