Home / Uncategorized / Our Parish Finances 2016-17

 

Each year the business world looks at itself in what is known as the “fiscal year” reports. This is true of most every business, including governments. It is also true of the parish. For example, the fiscal year goes from July 2016 to June 2017. At the conclusion of the fiscal year, each organization draws up a financial statement of income and payments. This reflects how well, or poorly, each organization is. It is always best to end up in the “black”, even by a small amount rather than ending in the “red”, which would mean a loss, and therefore, not doing very well.
This year, as in many previous years, the parish is ending up in the red, but never by so much! The Sunday collections are the most significant and continuous sources of finances for our church and school. During this last year there was a considerable drop in the collections: –– $31,000.00 less than the previous year:
2015-16 = $320,000.00
2016-17 = $289,000.00.

If we are going to thrive as a parish, this downturn in finances must not be allowed to continue. It jeopardizes our ability to continue our grade school ministry because that money that we use to keep tuition as low as we can comes directly from the accumulated Sunday collections. For decades this is how each parish was able to help parents to send their children to our grade schools. The actual tuition payments never really equaled to actual cost of educating each child for a year. For example, in our school the actual cost of educating each child was over $5,000.00. But the the tuition was only $3,350.00. This diminished income is also eating away at our savings which we use for emergencies and the school subsidies.

Please give some thought as to your financial support of our parish and school. We need everyone to be involved in this project in order to keep what we have now in good operating condition.