Project Description

Dear Parishioners,

In today’s bulletin I have enclosed a summary of our year-end financial statements (2016-17 Year End Report).  Your generous donations make our ministry possible, so I think it’s important that you see how your money is being spent.  I am so grateful for the gifts of time, talent and treasure that you invest in our parish.  I know that all of you have busy lives and that you have worked hard for your money, and I am continually humbled by how readily you offer those gifts to Christ the King.  Please know that I never take your generosity for granted, and all of us in the parish and school are vigilant about using our resources as efficiently and effectively as possible.

 

Let me draw your attention to a few items in these statements:

  • The most notable is that the school runs on a deficit. This is part of our annual budgeting process, and surplus income from the parish is used to subsidize the school.  This allows us to keep tuition affordable and to offer tuition discounts for active parishioners, as well as additional discounts for families with multiple children and employees with children in the school.  This subsidy represents a considerable investment from your weekly offerings, but it’s worth it.  I firmly believe – and I know that many of you share this conviction – that a Catholic education is the best way to pass our faith onto the next generation.  That’s why the school is our parish’s largest ministry.
  • That being said, our current subsidy level is too high. While we continue to be financially healthy (no parish debt, plus a healthy balance in savings), we realize that this level of subsidy is unsustainable.  Therefore, we are investigating ways to decrease expenses without compromising the mission and ministry of the parish and school.  For that reason, in light of Megan Urbaniak’s resignation I do not plan to hire a new Director of Adult Faith Formation for the time being.  Instead, Megan’s responsibilities have been divided among members of the pastoral team, assisted as always by many dedicated parish volunteers.
  • The primary driver of this higher-than-expected subsidy was lower-than-expected tuition income. Although enrollment in 2016-17 increased from the previous year, the level of tuition discounts was far greater than budgeted.  We know that the long-term solution to this issue is increased enrollment.  We currently have a team investigating the feasibility of a building project which would allow us to expand enrollment in kindergarten and pre-kindergarten, which would be needed to fill the school to capacity.  Given the fact that we have had waiting lists for both of these grades for the past two years, I believe that expanding their capacity will yield long-term benefits for the school and allow more students to benefit from the Christ-centered education we offer.
  • The financial insert also includes information on the money that you gave in your Parish Poor envelopes. Again this year, your contributions to the parish poor have exceeded our budget.  You can see in this insert how your contributions have allowed us to provide direct assistance to people who come to us for help, as well as tuition assistance for families in need and donations to local charities.  Thank you for making this type of assistance possible!
  • Finally, the insert includes detailed information on the levels of giving that we receive from the weekly envelopes (including EFT). As you can see, a relatively small percentage of parishioners (roughly 25%) contribute almost 75% of our total collections.  I am so grateful for your sacrificial giving and hope that this breakdown is useful to you as you discern your level of giving for the coming year.

 

As we review our financial performance for the past year, there are many people I must thank.  I am so grateful for our parishioners who have served on the Finance Council – Chris De Trempe, Eric Karaman, Liz Rulli, Shawn Stevens, Mitch Walorski, Leslie Yates and Luis Zapata – for the many hours they have spent pouring over financial statements, reviewing our budget and advising me on a wide range of financial matters.  When it comes to generosity of time and talent, they are true all-stars!  I am also grateful to the staff of the parish and school, particularly Steve Hoffman and Mike Selsor, who work so hard to make sure that we use our money wisely.  We know that when you donate to Christ the King, you want to see that money put to good use for the building of the kingdom.  Please know that we work hard every day to spend that money in a way that’s worthy of your generosity.  We have a vibrant parish and school, and with continued financial discipline we have every reason to believe that our mission will continue to grow and thrive into the future.  Don’t hesitate to contact me if you have any questions about this information.