Dear Friends,

We recently received an unsolicited offer from a local bank for a lower interest rate mortgage for the Community Center. Reflecting our positive reputation in the community, this offer was very competitive. I advised our current lender, Fredericktown Bank, of the situation and we agreed on terms for a new mortgage. I am very pleased to inform you that we now have a fixed rate of 5.25% for the next five years. This new rate will save us over $12,000 in interest expenses in just the next two years. Our relationship with Fredericktown Bank remains outstanding. They are committed to helping Beth Sholom. Thanks to Brian Gaeng, President of the Bank, and Scott Wooten, Vice President of Commercial Loans, for their continued support.

Following are the Highlights of the January 9, 2003 Board of Trustees Meeting.

Executive Committee –An outline of the upcoming Capital Campaign was discussed. This committee is going to need many Congregants’ help to be successful. Please let us know if you are interested.

Treasurer’s Report – The Synagogue continues to operate reasonably close to our budgeted expenses. Due to increased maintenance, some building fund expenses have been higher than normal. Principal paid on our mortgage is about $6000 below budget.

House – A hole on the roof at the Community Center was repaired.

Budget and Finance – There have been three meetings to discuss the potential change in the management of our investment funds. The Investment Subcommittee has reviewed seven proposals. A final recommendation will be presented at the next Board meeting. The Budget and Finance committee will begin working on next year’s proposed budget. 

Membership – New and prospective members are being invited to join us for Shabbos dinner at the Community Center during the Family Shabbaton on Friday, February 21, 2003.

Library/ Archives – A mission statement was approved defining the role of the Library Committee. Tremendous strides continue to be made in organizing and cataloging the Library materials.

New Business – A piano fund has been created in the hope that one day we will have a piano at the Community Center.

Volunteer of the Month – I am honored to name Marty Erlichman as the Volunteer of the Month. Marty is wonderfully involved in many Beth Sholom activities. He organizes the semi-annual Red Cross Blood Drive. He also manages Beth Sholom’s involvement in the Holiday Houses of Worship Candlelight Tour. He serves on the Library, Beautification and Dedication, and Budget and Finance Committees. He continues to organize the Brunch Bunch and is the Sous Chef for New Years Eve Bingo. He is also a Past President of the Congregation. We are very grateful for all of his hard work.