Advent is here in 3 weeks! We are inviting you to join our small faith-sharing groups and journey into our LONGING FOR NEWNESS.
FISCAL YEAR 2022 REPORT FROM THE PARISH FINANCE COUNCIL
Our financial statement for the period that began July 1, 2021 and ended June 30, 2022 reflects our gradual emergence from the effect of the pandemic of two and a half years ago.
In the fiscal year that ended June 30, 2022, our parish operating income came to $952,773.
The largest source of revenue was our Sunday, Easter, and Christmas collections which amounted to $433,438.
The second major revenue source was the income generated by the rental of our school building to Starting Points (a privately operated early childhood program), it amounted to $365,290.
The third largest source of income came from restricted donations, gifts, and bequests, this amounted to $81,676. This number includes $50,000 restricted donations in December 2021.
Additional income came from various sources that are noted in the detailed financial report on our website.
In comparison to the fiscal year that ended June 30, 2021, our income in the fiscal year that ended June 30, 2022 increased $16,553. This was due to an increase in our Sunday and Christmas offerings and an increase in the restricted rental income from the school building.
In the fiscal year that began July 1, 2021 and ended June 30, 2022, our parish operating expenses came to $776,193.
The highest expense of $367,394 was associated with salaries, benefits, pensions, payroll taxes, and insurance premiums.
The next highest expense of $182,653 was related to our buildings, utilities, and equipment costs.
The third expense item of $64,676 had to do with liturgical, office, and priest residential expenses. The other operating expense areas are noted in the detailed financial report.
In comparison to the previous fiscal year that ended June 30, 2021, our expenses were higher by $13,360 in the fiscal year that ended June 30, 2022. This was primarily due to the offsetting effects of: (1) The reduction in salaries and employee benefits due to the reduction in the number of priests from two to one in mid-fiscal year 2022 ($33,235),
(2) An increase in buildings, utilities, and equipment costs due to higher repairs and maintenance ($20,059), higher equipment and furnishings ($10,385), higher property and liability insurance premium ($9,065), and higher cost of oil heat ($5,233).
Non-operating revenues from the We Are Living Stones (WALS) capital campaign decreased by $3,396 from $4,409 in 2021 to $1,013 in 2022. This was because most pledges have been fulfilled. The loan from SBA Payroll Protection Program amounting to $53,953 was forgiven on November 16, 2021.
Non-operating expenses for fiscal year that ended June 30, 2022 included $70,510 for repointing three brick walls and recaulking of all outside walls of the school building.
When we consider our total income (both operating and non-operating) and our total expenses (both operating and non-operating) we see that the fiscal year that ended June 30, 2022 left us with a surplus of $161,036. In the fiscal year that ended June 30, 2021, OLM showed a surplus of $124,521.
We need to be aware that our parish currently owes the Archdiocese $195,030 for the cost of past medical benefits for our employees. The Archdiocese has covered the cost of these medical benefits since the parish was unable to do so.
The income generated by the rental of our school building is now sent directly to the Archdiocese to cover past medical benefits, and to cover current expenses associated with pension contributions, parish assessments, insurance premiums, etc.
Several much-needed repairs in the church, school, and parish center buildings require our urgent attention. A few examples are school playground retaining wall, church building concrete rear at foundation, bridge and parish center roof, and church bathrooms.
Without the income received from the rental of our school building, our parish would be in a serious financial situation. Collections for the current period are improving, but we still need to make up for the loss of revenue we suffered and continue to suffer during the pandemic. As we continue with much needed repairs and maintenance to our aging plant, we rely on your on-going support of your parish.
If you have any questions regarding this report, please send them to us by email at email@example.com
With heartfelt gratitude,
Father Marty Jacinto
& The Members of the OLM Finance Council
OUR MASS BOOK OPENS THIS WEEKEND, NOVEMBER 26 & 27
Our 2023 Mass Book opens for your Mass intentions starting this weekend, November 26 & 27. Masses may be scheduled Saturday, November 26, between 9 am to 1 pm, and Sunday, November 27, between 9 am and 1 pm, and on weekdays during regular office hours. Please note that during the first month the Mass Book is open, we request that parishioners book no more than 5 Masses. In addition to Mass intentions, you may also make donations for the sanctuary lamp and for the bread and wine used at our Masses.
A FREE RESOURCE TO HELP YOU UNDERSTAND GOD’S WORD
Looking to Sunday is a free email resource that can help you prepare to listen and appreciate the scripture readings at Sunday Mass. Looking to Sunday arrives in your email inbox every Wednesday morning with a short reflection on the readings you will hear at Mass the coming Sunday. The reflection is written by Father Tom Iwanowski. To subscribe, simply send an email to LookingToSunday@gmail.com Some 3,500 people subscribe to this popular resource.
AN OPPORTUNITY TO SERVE THE LORD
We continue to look for additional young people to join our altar server ministry here in the parish. We appreciate parents and other adults who encourage the young people in their lives to volunteer to fill this role at Mass.
Sign-up sheets are available in the vestibule of the church. You can submit the completed forms to the Parish Office or give them to Father Marty or Father Andrew. You can also sign up by using the QR Code found here.
If you have any questions, please speak to one of the priests. We will soon be posting a schedule for the training sessions for those who volunteer to become Altar Servers.
ARE YOU EXPECTING?
All Moms and Dads to be, our Baptismal Team would also like to celebrate your joy with a “Gathering To Rejoice!” Every month we have an event just for that. The team is ready to rejoice with you and to assist you as you look forward to your child’s baptism and beyond. Let us know that you are expecting by stopping by or calling the parish office at 201-434-7500.