May 25th,
2009
My Dear
Friends -
I would like to draw your attention to the critical
financial situation of our temple. Due to economic conditions, revenue
stream for our temple has been impacted. Since the beginning of the year we
have worked on reducing some costs to bring the average operating costs of
running our Temple to $15,000 per month-
n Payroll
& health care - $ 6,000
n Mortgage -
$ 5,000
n Maintenance,
Utility and Other - $ 4,000
WE DO NOT HAVE ANY RESERVE FUNDS. WE
HAVE JUST ENOUGH FUNDS TO MAKE JUNE PAYMENTS TO THE BANK AND MEET PAYROLL. THIS
IS A DANGEROUS SITUATION. WE NEED ON GOING COMMITMENTS FROM YOU – HOWEVER SMALL
THAT ADDS UP EVERY MONTH.
WE ALSO HAVE A $25,000+ CONSTRUCTION
DEBT OUTSTANDING THAT NEEDS TO BE ADDRRESSED.
|
Raise by immediate support from Life Members – $ 1,000 for
Year 2009 commitment (70 Members) |
$ 50,000 |
Emergency fund for operation |
|
Support from Annual Members - $ 500
for Year 2009 commitment ( 50 Annual Members) |
$ 25,000 |
Meet the remaining construction invoices |
|
Support of $ 50 - $ 100 per month from
the |
$ 6,000 |
Help meet the monthly expenses |
In absence of these commitments or other ideas, we
will have to take following drastic actions to continue the operation –
1. Reduce the
temple operation hours
2. Staff
reduction (manage the temple operation with one priest only)
3. OTHER
MEASURES
TO DISCUSS THESE MEASURES PLEASE ATTEND A TOWNHALL
MEETING AT 2 PM AFTER FIRST SUNDAY SATSANG ON JUNE 7TH AT THE TEMPLE
SO WE CAN GO FORWARD WITH A PLAN. YOUR SUPPORT IS ESSENTIAL.
Manohar Naga
Chairman
Board of
Trustees