Review and Plans for the Future

In this week’s bulletin, there is the financial report for the last fiscal year, which ended on June 30.

(The Diocese’s accounting year starts on July 1, due in part to the school year, and in part to the fact that clergy transfers are usually effective in late June.)

As the report says, we had income of about $212,100 and expenses of $176,900. However, both of those figures included extraordinary items. In particular, we received a $50,000 inheritance from the estate of Frances Hannah, who with her late husband had been a parishioner almost from the beginning of this parish.

In addition, we spent about $25,200 on the new Stations of the Cross walk and on the new landscaping, $9300 of which was offset by donations for those projects. Outside of these extraordinary matters, the ordinary income was about $152,800 and the expenses other than additions were about $151,700.

or this next year, the we are planning on building a new church hall, which will give us more space for such things as parish events, religious education and adult education classes, and gatherings of parish groups. It will enable us to get together more often, and have more room for these events, as well as make parish receptions easier to arrange and audio-visual equipment easier to use. In addition, there will be a larger kitchen and more modern handicapped accessible bathrooms. And we will be able to make the church annex a regular part of the church, with pews and a proper confessional. We are expecting this project to cost about $500,000 – $600,000, including the cost of adding parking spaces to make up for the ones that the hall would take up.

We have about $1 million in savings, and so we can move forward now. However, we will lose the interest on the portion of our savings that will go to the project. We will hopefully make up some of that lost income by increased interest rates on the remainder of our savings, and with about $3000 a year that should come in from Christendom College due to some help I give them.

However, to offset some of the costs so that we will keep more interest income for the future, we will be conducting a fundraising drive in the fall season to ask for 3 or 5 year pledges dedicated to this project. I will soon be giving further updates on the status of this expansion for our parish.