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Financial Report
Income and Expenses, Fiscal Year 2020
|
PARISH INCOME |
AMT |
|
---|---|---|
Regular Sunday Collections | $463,352 | |
Christmas Collection | $14,294 | |
Easter Sunday Collection | $6,872 | |
Holy Day Collections | $5,592 | |
Fuel & Maintenance Collection | $11,261 | |
Snow Removal Collection | $2,586 | |
Religious Education (Registration Fees) | $1,444 | |
TOTAL PARISH COLLECTIONS | $518,401 | |
OTHER PARISH INCOME | $11,540 | |
(Bulletin Income, Memorials, Misc. Refunds, Flower/Candle Donations, Raffle, etc.) | $11,540 | |
TOTAL PARISH INCOME (A) |
$529,941 |
|
Building Fund (These gifts were deposited into a Capital DEF Account at the Chancery as a separate St. Anne's Account and ARE NOT included in TOTAL PARISH INCOME above.) | $55,434 | |
PARISH EXPENSES |
||
Financial Obligations to Worcester Diocese (CATHEDRATICUM) | $78,586 | |
(Includes Retirement for priests/religious, Catholic Schools, Property/Liability Insurance, Worker's Comp, employee pensions, Catholic Free Press Assessment, etc.) | ||
Repair & Maintenance, including Preventative Maintenance (Church & Church Grounds) | $74,325 | |
Utilities (Electric, Water/Sewage, Heat, Phone System) | $43,515 | |
Parish Administration & Supplies (Church, CCD, Other) | $24,389 | |
Insurance (Health/Dental) | $24,775 | |
Liturgical Expenses | $12,031 | |
Payroll (Clergy & Staff, Misc. Contractors) | $264,246 | |
Rectory & Parish Hall Operating Expenses (Include food, supplies, cleaning, maintenance) | $12,587 | |
Religious Education Expenses | $9,720 | |
OTHER: Priest Car Allowances, Parish Events, Catholic School Tuition, Travel, Misc. Memberships, etc.) | $31,455 | |
TOTAL PARISH EXPENSES (B) |
$575,629 |
|
NET: INCOME MINUS EXPENSES (A MINUS B) |
($45,688) |
|
CASH ASSET DETAIL | ||
St. Anne's Savings Account (DEF) | $136,523.58 | |
St. Anne's Building Fund (Capital Fund to save for $250,000 repair of Fr. Smith Center roof) | $65,245.37 | |
COVID19 PPP Loan from the US Treasury (Assuming the US Treasury approves Loan Forgiveness) | $50,500.00 | |
Legacy Distribution to St. Anne's (Included in the DEF $136,523.58 balance above) | $44,000.00 | |
NOTE: $53,000 was withdrawn in FY 2020 from St. Anne's DEF Savings Account to pay for deficit | $53,000.00 | |
FINANCE OBSERVATIONSThe overall financial health of our parish is TRENDING BETTER but not EXCELLENT. For over 5 years, we have been in the red, requiring withdrawal of funds ($175,000) from our Savings to pay these deficits. This year, I implemented an aggressive cost cutting program, which saved $30,000. We were also blessed with a US Treasury PPP loan for $50,500 to defray payroll and utility costs. The Parish received our first Legacy payment from the Diocese for $44,000. Lastly, you have been most faithful and generous in maintaining your weekly offerings since COVID. For the first time in years, our finances are trending in a positive direction. Let's continue our work in keeping the doors of our Blessed Church open. GOD BLESS YOU, AND THANK YOU! |