I'm not sure if it is on the document, but our philosophy is to do everything we can, before we have to release a team member—Rick
In the event that Vanguard does not reach its goals with the building of our new auditorium and taking on new financing, Vanguard will go through the following steps:
- Address the Body – Vanguard will let our body and leadership become aware of the churches financial standing and give an opportunity for the church to respond.
- Renegotiate the Student Space (Dub) – Use build out funds for the student space and replenish later.
- Renegotiate the Option to Buy – Vanguard will enter into renegotiations with the landlord in our monthly payment that Vanguard is exercising in order to hold the guaranteed price to purchase the shopping center within six 2012.
- Scale Back Ministries – Vanguard will freeze ministry spending and scale back it’s ministries to a previous year’s budget in order to ease monthly spending.
- Suspend Staff Benefits – Vanguard will suspend staff benefits such as retirement, cut professional expense, mileage, etc.
- Implement Staff Pay Cuts – Depending on the deficit, Vanguard would decide what percentage of pay cut everyone on staff would experience. The standard in the past has been 10% for one month.
- Layoff Staff – Vanguard will lay off staff. Vanguard would have to create a list of which position/staff would have to be laid off and in what order.
