I hope that you’ll take some time to look at the insert in today’s bulletin, which details our year-end financial information the last fiscal year. (Our fiscal year ended on June 30, 2019, but I always wait until our Finance Council has the chance to review these statements before publishing this information.) We want to be as transparent as possible about parish finances; our parishioners sacrifice a lot for our parish, and you should know how your money is being spent.
The past fiscal year, of course, included our capital campaign. I am so grateful for the overwhelming response to this campaign, and I know that we are all eagerly awaiting the fruits of this campaign as we watch our new addition being built. The capital campaign is not included in the bulletin insert; instead, this insert deals with our regular financial operations, which continued as normal during the campaign. While our collections were down a bit, I think this is typical of a capital campaign year, and I greatly appreciate the effort that parishioners made to keep up their weekly giving while still supporting the campaign.
As you look at these statements, you can see that there is room for improvement in our financial position. On the one hand, we are able to pay our bills and maintain our facilities thanks to our parishioners’ support, as well as to discipline in our spending. We are also diligent about preparing for future capital expenditures, so we have been able to stay ahead of these expenses. On the other hand, though, we continue to run a deficit. While we’ve cut this deficit over the last two years, it’s still not sustainable in the long-term. Our priority is to cut this deficit and work our way toward a balanced budget while being sensitive to the impact that tuition increases have on our school families.
The back side of this insert gives additional information related to the past fiscal year. The top half shows the giving patterns from our Sunday collections (including those who give electronically). We are very encouraged by the number of people who have contributed, but we also recognize that a relatively small percentage of our parishioners are responsible for the majority of our collection income. I hope that this chart will help each of you discern the right level of giving for your family in the coming year.
The bottom half of this sheet details our use of the money that you donate in your monthly envelopes for the parish poor. You continue to be very generous in your use of these envelopes, and this has allowed us to do many things:
- Offer support to parishioners and others in need who approach us directly
- Make quarterly contributions to Stone Soup and Help with Love, agencies to which we can refer people in need.
- Offer tuition assistance to supplement what parishioners receive from the Indiana School Choice Program, ensuring that we can meet the financial need of all of our students
- Use the year-end surplus of these envelopes to make donations to other agencies in town that serve the poor – Our Lady of the Road, Center for the Homeless, the Food Bank of Northern Indiana and St. Vincent de Paul.
Please take some time to read this insert, and feel free to approach me or any Finance Council member with any questions or concerns. (I am especially grateful for the ongoing guidance of our Finance Council and thank these parishioners for so generously lending their time and talent to this ministry: Nathan Baumgartner, John Dunham, Eric Karaman, Liz Rulli, Rose Savastano, Mitch Walorski, Shawn Stevens, Leslie Yates and Luis Zapata.) We realize that we have a responsibility to be good stewards of our resources, and we welcome your feedback.