LISBON - The Lisbon Area Chamber of Commerce is running low on funds, which were drained by renovation of the organization's new headquarters.

Chamber Executive Director Marilyn McCullough reported at Tuesday's meeting the general fund balance had dropped to $2,704, which is the lowest level in her 18 months with the organization.

"It is a concern," she said. The balance stood at $4,343 as of the Oct. 13 chamber meeting.

Chamber President Ryan Hillman said the problem is they spent nearly $15,000 on renovating the new chamber headquarters at 120 N. Market St., which was built in the 1830s. The chamber moved into the historic building in June after entering into a 99-year lease with Huntington National Bank for the nominal fee of $1 per year.

Hillman said before this could happen they had to undertake a number of repairs and renovations, which they knew it would be a strain on the general fund account in the short term but its finances would recover.

"It would be nice to have that money in the bank, but this is a one-time expense and we've gotten a beautiful building as our permanent home," he said.

The chamber office has bounced from location to location ever since the old village hall closed several years ago. Hillman believes the move to a historic building in a prominent part of town gives the chamber not only a permanent home but the type of exposure that will only help it grow in its ability to promote the community.

"We are much more a presence in the county," he said.

As for the dwindling balance, the chamber has certificate of deposit in the amount of $9,636 to draw on in an emergency, but Hillman believes that will be unnecessary since membership fees for the 66 chambers are due to be renewed in early 2010.

"With continued membership dues and other fees ... I'm not worried," he said.

Chamber Director McCullough is, however. She asked and received permission yesterday for the organization to undertake a fund-raiser to sell frozen pies for Christmas to raise cash.

"We've just got to do something to come up with money unless you want to cash in that CD," she said. "We'll never be able to pay our utility bills if we don't do something."

The bad news comes after the good news about the two-day Johnny Appleseed Festival held last month. Hillman reported the JAF generated a profit of $14,000, double that of last year. An estimated 10,000 people attended.

"It was by far the best festival we've had" since the chamber assumed control five years ago and brought it back to downtown Lisbon, he said. "I can't say enough about the volunteers and businesses who help make it such a success."

McCullough said the chamber's current budget balance takes into account the profit from the festival.