A Maintenance Reserve Study Avoids Surprises
Churches always seem to have more needs than dollars to meet the needs. Even when finances are doing well, there is always more that can be done than any congregation can do. Unfortunately, buildings tend to suffer for it. It is rare to speak up for the roof, or the heating and air system until sometime just before or during a crisis. Yet, there is no need for surprises. Setting up and funding maintenance reserves can assist a congregation in avoiding most surprises.
The vestry needs to be assured that the money will be on hand to replace the air handler, water heater and so on when they go out. As these and other pieces of equipment come with typical life expectancy, it is possible to plan for the future and set aside money at a steady rate, rather than dealing with issues arising when maintenance has been put off to the breaking point. (Chapel of Our Savior got a new roof in 2012)
Vestries can plan for eventual maintenance issues with a maintenance reserve study. Set up a task force of 2-3 people headed by the Junior Warden to tour the campus, making note of areas of possible concern including the parking lot and the buildings from roof to foundation with all significant electrical and plumbing issues in between. Seek input from professionals (often available in the parish) who can estimate the remaining life and replacement costs at the time action is needed. Then budget to set aside a little money each month toward the maintenance reserve fund. Then when the water heater tank ruptures or the heat pump dies, funds will be ready to apply toward their purchase. Revisit the study each year and adjust the maintenance reserve line item as a apart of the budget process.
Deductibles and Exclusions
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A small, routine line item
This practice keeps maintenance of your building a small, routine line item in the budget, which is as it should be. I know there is no money for this lying around waiting to be allocated to a future need. But considering the high cost of leaving an old roof in place, you can’t afford not to set aside a little each month toward this eventual need. If Jesus does not return first, your congregational WILL face these maintenance issues. If Jesus does come before the heating and air system gives up the ghost, imagine how pleased our Lord will be to see you had prepared to care so well for his house.
Frank
The Rev. Canon Frank Logue, Canon to the Ordinary
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