[Lnc-business] Added Mortgage Payment

Sun Nov 27 22:06:02 EST 2016

Further the bequest rules make it a no-brainer in my view.

-- 
*In Liberty,*
*Caryn Ann Harlos*
Region 1 Representative, Libertarian National Committee (Alaska, Arizona,
Colorado, Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
Harlos at LP.org <Caryn.Ann.Harlos at LP.org>
Communications Director, Libertarian Party of Colorado
<http://www.lpcolorado.org/>
Colorado State Coordinator, Libertarian Party Radical Caucus
<http://www.lpradicalcaucus.org/>

On Sun, Nov 27, 2016 at 8:04 PM, Caryn Ann Harlos <carynannharlos at gmail.com>
wrote:

> Hi Ken, while I appreciate that, our Policy Manual puts the building
> pay-off as a priority.  We can always find an excuse to put that off.  I
> will not.  If we are going to expect our government to follow commitments
> and shed debt, we must.  The IT infrastructure that exists - existed at the
> same time we got the mortgage.  We sold the idea of the mortgage to members
> on a certain committement and vision, and I fully intend to keep it.
>
> --
> *In Liberty,*
> *Caryn Ann Harlos*
> Region 1 Representative, Libertarian National Committee (Alaska, Arizona,
> Colorado, Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
> Harlos at LP.org <Caryn.Ann.Harlos at LP.org>
> Communications Director, Libertarian Party of Colorado
> <http://www.lpcolorado.org/>
> Colorado State Coordinator, Libertarian Party Radical Caucus
> <http://www.lpradicalcaucus.org/>
>
> On Sun, Nov 27, 2016 at 7:45 PM, Ken Moellman <ken.moellman at lpky.org>
> wrote:
>
>>
>> All -
>>
>> While paying off the building faster is a great goal, we may have other
>> priorities.
>>
>> Specifically, we have 12 states without ballot access at this time, and
>> we have an IT infrastructure that's from the last century - literally.
>> These things will take money to remedy.
>>
>> Just something to keep in mind.
>>
>> ---
>>
>> Ken C. Moellman, Jr.
>> LNC Region 3 Alternate Representative
>> LPKY Judicial Committee
>>
>>
>>
>> On 2016-11-27 19:42, David Demarest wrote:
>>
>> Tim,
>>
>>
>>
>> Your plan sets a good example of fiscal responsibility for all
>> Libertarians. I also support your higher amount.
>>
>>
>>
>> Thoughts?
>>
>>
>>
>> *The War on Compulsory Authoritarian Majority Rule Cronyism Begins Now*
>>
>>
>>
>> ~David Pratt Demarest
>>
>>
>>
>> *From:* Lnc-business [mailto:lnc-business-bounces at hq.lp.org] *On Behalf
>> Of *Caryn Ann Harlos
>> *Sent:* Sunday, November 27, 2016 4:33 PM
>> *To:* Tim Hagan <timhagan-tyr at yahoo.com>; Libertarian National Committee
>> list <lnc-business at hq.lp.org>
>> *Subject:* Re: [Lnc-business] Added Mortgage Payment
>>
>>
>>
>> Tim,
>>
>>
>>
>> That sounds like the smart plan.  Future Libertarians will thank us.  I
>> support your higher amount.
>>
>>
>>
>>
>>
>> --
>>
>> *In Liberty,*
>>
>> *Caryn Ann Harlos*
>>
>> Region 1 Representative, Libertarian National Committee (Alaska,
>> Arizona, Colorado, Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
>> Harlos at LP.org <Caryn.Ann.Harlos at LP.org>
>>
>> Communications Director, Libertarian Party of Colorado
>> <http://www.lpcolorado.org/>
>>
>> Colorado State Coordinator, Libertarian Party Radical Caucus
>> <http://www.lpradicalcaucus.org/>
>>
>>
>>
>> On Sun, Nov 27, 2016 at 2:50 PM, Tim Hagan <timhagan-tyr at yahoo.com>
>> wrote:
>>
>> I will call your $150,000 and raise it to $207,500. I request we add 20
>> minutes to the December meeting agenda for a motion to make a payment on
>> the principal on our office mortgage.
>>
>> The mortgage's loan rate is 4.85% with a balloon payment at ten years,
>> which is in July 24, 2024. Robert was kind enough to furnish the attached
>> load amortization spreadsheet. I ran five scenarios on it to get the amount
>> of interest we will pay from December 2016 to when the balloon payment is
>> due, and to get the amount of the balloon payment that will be due at that
>> time.
>>
>> Without any more prepayments (not paying an extra $60,000 on odd-numbered
>> years):
>> Interest: $139,400.40
>> Balloon payment due 7/24/2024: $301,040.34
>>
>> With the current policy of paying an extra $60,000 on odd-numbered years:
>> Interest: $84,900.77
>> Balloon payment due 7/24/2024: $6,540.71
>>
>> Paying an additional $207,500 in the December payment, and not paying
>> extra in future years:
>> Interest: $45,751.59
>> Balloon payment due 7/24/2024: $0.00
>>
>>
>>
>> Paying an additional $150,00 in the December payment, and paying an extra
>> $60,000 on odd-numbered years:
>> Interest: $32,805.22
>> Mortgage gets paid off July 2021.
>>
>> Paying an additional $207,500 in the December payment, and paying an
>> extra $60,000 on odd-numbered years:
>> Interest: $19,879.20
>> Mortgage gets paid off May 2020.
>>
>> As you can see, paying $207,500 in December will eliminate having a
>> balloon payment in 2024 and will save at least $39k in interest. If we keep
>> the Weiner rule, it will save $65k in interest and have the mortgage paid
>> off four years early. The targeted Reserve is the sum of all monthly
>> occupancy, labor and governance expenses, which comes to $45,292. At the
>> end of October, the reserve was at $415,669, so I am comfortable with
>> paying $207,500, even if next year's budget has a large deficit. We will
>> have new reserve number before the meeting.
>>
>> The trust from a bequest has $167,404. We have been taking the maximum
>> allowable amount out each year for the general fund. A law passed December
>> 2014 now allows national political committees to have a separate segregated
>> building fund with its own contribution limit of three times the limit for
>> the general fund. We have not done this before, because we needed the
>> bequest for the general fund, but we can transfer up to $100,200 from the
>> bequest to the building fund and use those funds toward making a payment on
>> the mortgage principal.
>>
>> My preference is to pay at least $207,500 toward the mortgage principal
>> to save on interest payments and to ensure no balloon payment. If that
>> passes, then I would favor reducing the policy to budget an extra $60k on
>> odd years.
>>
>> Tim Hagan
>>
>>
>> ------------------------------
>>
>> *From:* Sam Goldstein <goldsteinatlarge at gmail.com>
>> *To:* lnc-business at hq.lp.org
>> *Sent:* Sunday, November 27, 2016 8:11 AM
>> *Subject:* [Lnc-business] Added Mortgage Payment
>>
>>
>>
>> I intend to make a motion at our next meeting to spend a good portion of
>> our 2016 surplus to make a payment on the principal on our office mortgage.
>>
>>
>>
>>
>> Not knowing our final numbers at this time lends some uncertainty to that
>> number, but I would like to start the bidding at $150,000.  That amount
>> ought to leave us in a very favorable position as to our ongoing reserve
>> for unforeseen expenses over the next few years.
>>
>>
>>
>> Does anyone want to offer a lower/higher amount?  If so, what is your
>> reasoning.
>>
>>
>>
>> Thanks and
>>
>>
>>
>> Live Free,
>>
>>
>>
>>
>>
>> Sam Goldstein
>>
>> Libertarian National Committee
>>
>> Member at Large
>>
>> 8925 N Meridian St, Ste 101
>>
>> Indianapolis IN 46260
>>
>> 317-850-0726 Phone
>>
>> 317-582-1773 Fax
>>
>>
>>
>> _______________________________________________
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>> Lnc-business at hq.lp.org
>> http://hq.lp.org/mailman/listinfo/lnc-business_hq.lp.org
>>
>>
>> _______________________________________________
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>> Lnc-business at hq.lp.org
>> http://hq.lp.org/mailman/listinfo/lnc-business_hq.lp.org
>>
>>
>>
>>
>>
>> --
>>
>> *In Liberty,*
>>
>> *Caryn Ann Harlos*
>>
>> Region 1 Representative, Libertarian National Committee (Alaska,
>> Arizona, Colorado, Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
>> Harlos at LP.org <Caryn.Ann.Harlos at LP.org>
>>
>> Communications Director, Libertarian Party of Colorado
>> <http://www.lpcolorado.org>
>>
>> Colorado State Coordinator, Libertarian Party Radical Caucus
>> <http://www.lpradicalcaucus.org>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>> _______________________________________________
>> Lnc-business mailing list
>> Lnc-business at hq.lp.org
>> http://hq.lp.org/mailman/listinfo/lnc-business_hq.lp.org
>>
>>
>> _______________________________________________
>> Lnc-business mailing list
>> Lnc-business at hq.lp.org
>> http://hq.lp.org/mailman/listinfo/lnc-business_hq.lp.org
>>
>>
>
>
> --
> *In Liberty,*
> *Caryn Ann Harlos*
> Region 1 Representative, Libertarian National Committee (Alaska, Arizona,
> Colorado, Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
> Harlos at LP.org <Caryn.Ann.Harlos at LP.org>
> Communications Director, Libertarian Party of Colorado
> <http://www.lpcolorado.org>
> Colorado State Coordinator, Libertarian Party Radical Caucus
> <http://www.lpradicalcaucus.org>
>
>
>
>
>

-- 
*In Liberty,*
*Caryn Ann Harlos*
Region 1 Representative, Libertarian National Committee (Alaska, Arizona,
Colorado, Hawaii, Kansas, Montana, Utah, Wyoming, Washington) - Caryn.Ann.
Harlos at LP.org <Caryn.Ann.Harlos at LP.org>
Communications Director, Libertarian Party of Colorado
<http://www.lpcolorado.org>
Colorado State Coordinator, Libertarian Party Radical Caucus
<http://www.lpradicalcaucus.org>
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