Financial Status Meeting
Online Zoom meetingA congregational meeting for church members has been called for September 13, 2020 at 12:30pm by the MVGC Council for the following purposes:
- To provide an update to congregation members regarding MVGC financial situation from Jan 1, 2020 to the present day.
- A government incentive has been made available for business and non-profit organizations in which a $40,000 loan can be taken from the government which does not need to be repaid until Dec 31, 2022 (interest free until after Dec 31, 2022).
If repaid on time, only $30,000 is required to be repaid (net gain of $10,000). Due to the time sensitivity for the application the council has approved application and MVGC has received the full amount of the loan ($30,000 loan + $10,000 grant), the proposed congregational meeting is to vote for:
- Putting $30,000 in a GIC, Save interest and payback required $30,000 at or close to deadline (Dec 31, 2022 or earlier).
- Put $40,000 in the bank and pay back required $30,000 Dec 31, 2020 or earlier.
- Additional details regarding this loan can be found at the following website: https://ceba-cuec.ca/ If you have any questions or clarifications, please feel free to e-mail members of council.