As we approach the end of the fiscal year, I want to give you an update on parish finances.
Cumulative Total of Ordinary Income:
| 2022-2023 | 2021-2022 | |
| July | $74,811 | $91,407 |
| August | $170,954 | $155,596 |
| September | $238,259 | $218,618 |
| October | $333,101 | $308,266 |
| November | $415,488 | $394,800 |
| December | $527,457 | $499,146 |
| January | $631,567 | $631,912 |
| February | $717,347 | $716,439 |
| March | $802,090 | $802,075 |
| April | $895,300 | $909,642 |
| May | $963,109 | $977,204 |
| June | TBD | $1,059,995 |
Our parish financial statements are only up-to-date through April 30, but as of April 30:
| Total Revenue[1] | $999,066 |
| Total Expenses | $1,020,971 |
| Difference | ($21,905) |
| Account Balance | $1,173,703 | Total Liabilities | $364,082 |
Our account balance is not completely liquid. A sizeable portion is legally restricted to certain expenses or organizations, which is what “Total Liabilities” represents. Of those, the largest liabilities are:
| Organ Renovation | $131,451 |
| Church Furnace | $102,853 |
| Community Meal | $41,860 |
This leaves $809,621 in liquid cash/savings, which we use to cover our expenses and projects. About $500,000 of this is going to the gym roof rebuild, leaving us about $300,000 in savings by the end of the summer. Best-practice is to keep 3-months’ operating expenses on hand ($250,000), so we are exactly where we need to be, but without much more than that.
[1] In addition to Ordinary Income, which is normal donations from parishioners (cf. $895,300 as of April 30), we also make some money off of weddings, funerals and other miscellaneous items. Also, when we spend money from a restricted fund, that gets counted as revenue to offset the expense it pays for. About $30,000 of this total revenue is from restricted revenue.
Fr. Moore 