Financial Report
St. Anne's Parish, Shrewsbury, MA

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NOTE: $53,000 was withdrawn in FY 2020 from St. Anne's DEF Savings Account to pay for deficit $53,000.00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 OBSERVATIONS

The 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!