Blog

Financial Picture

In our last letter to you, we wanted to:

  • remind you of the four pillars of Stewardship: prayer, service, formation and hospitality;
  • that we priests are here for you;
  • that the parish offers a good amount of services that are valuable;
  • invited you to look at your commitment to participation in the life of the church;
  • and examine how you are following the will of God in your life.

In this letter, we want to:

  • present to you the budget from July 1, 2019-June 30, 2020 and the actuals from July 1, 2019-February 29, 2020; 
  • share with you the percent of givers from September 20, 2019- March 20, 2020;
  • give a comparison of our October Counts in 2001 with 2019;
  • show you the financial picture of our Catholic School;
  • and conclude this letter with five brief comments.

A follow up letter will address these comments more fully.    

  1. Budget and Actuals                                                                                            

As you are aware, after a long discernment process, we joined forces on September 22, 2019 knowing we would be better together serving the needs of Pettis County.  We now have the collections for October, November, & December 2019 and January and February 2020.  

 Full Fiscal Year 12 Month BudgetActual 8 Month Activity
 7-1-2019 to 6-30-2020 July 1,-2019 to February 29, 2020 
 Sunday Offering$937,147 Sunday Offering$560,005 
 Donations and Other Giving$28,036 Donations and Other Giving$96,512 
 Fundraising$63,000 Fundraising$87,141 
 Other Income$8,466 Other Income$24,646 
 Total Income$1,036,649 Total Income$767,944 
       
 Total Expenses$1,033,481 Total Expenses$693,925 

From the chart above, examples of “Other income” include the Bazaar, Ham and Bean Dinner, donations to special projects, and Emergency Fund.  We cannot budget “expected income” on many of these line items; hence the discrepancy between “budgeted” and “actual.”  

At our Finance Council Meeting on March 17, 2020 we showed that if collections remained the same and did not fluctuate, we would end the budget year $31,000 behind budget as a parish.  To get us to here, our Parish Finance Director budgeted a $50,000 loss to Sunday Contributions because of the pandemic with Masses suspended through April.  If Masses continue to be at minimum attendance with few giving their tithe in other ways besides at Mass, this picture will look differently. Gratefully, the March collection came in better than anticipated.   March was projected at $60,000 but thanks to your cooperative efforts it came in closer to $70,000.  April collections were projected at $19,000 with a $15,000 Easter Second collection. April offertory, including the Easter collection, surpassed the projection coming in at $63,347.  Both June and July are expected to be $60,000 per month with everyone back in Church, please God.   Notice, to get us to budget, we need to average $66,000 per month for the remaining four months of the fiscal year.  

  1. Percent of Giving

Realizing the dates are not the same and so the dollar amounts will not match up, we requested a Sunday Offering statement report of 6 months from September 20, 2019-March 20, 2020.  We did not study individual giving records; we just asked for the required fields to generate this report. Here is the information:

Giving CategoriesPeople UnitsGiving% Units% Giving
$10,000+0 $-   00
$9,999-$5,0002 $          13,0500.17%4.16%
$4,999-$2,50024 $          81,5091.99%25.99%
$2,499-$1,00046 $          83,6643.80%26.68%
$999-$500119 $          78,7929.84%25.12%
$499-$100197 $          53,50316.29%17.06%
$99-$175 $            3,0846.20%0.98%
0746 $-   61.70%0.00%
Total1,209 $        313,60211
       
  1. October Count

With this information, it is important to remind us of the October Count we published in the bulletin in November 2019. 

The number of households in 2019 was 1111; if you multiply by 3 which, according to statisticians, is a reasonable estimate of the number of people, then we have 3333 people in the parish.  The number of people we averaged at our weekend liturgies in October 2019 was 981.  In 2001, the first year we recorded the October Count, we had 1600 people attending weekend liturgies.

Membership and Attendance   
2019 Total Households1,111 Seating Capacity Per Chapel
Multiplier3 Sacred Heart400
Total People of the Parish3,333 St. Patrick450
   St. John the Evangelist100
Average Weekend Attendance Oct 2019981 Total Capacity950
   Total Weekend Capacity2,250
Average Weekend Attendance Oct 20011,600   
  1. IV.               Parish and Foundation Partnership Investing in Pre-k through 12 grade Catholic Education 

For us to have a full financial picture of our parish, knowing our pre-k through 12th grade school is a ministry of our parish, we need to look at our Sacred Heart Foundation partnership. The Sacred Heart School Foundation assists the school in the following ways:  it agrees to give 50% of the Annual Drive proceeds plus 5% of the corpus to the school and then it invests wisely on the remaining corpus plus interest to get the maximum on investments. The Foundation also helps with donations in budget shortfalls but we all know these reduce the amount of the 5% annual disbursement every year from that date on into the future. We are thankful for the board members and all who contribute to the Foundation.   

School Budget Proposed School Budget
7-1-2019 to 6-30-2020 7-1-2020 to 6-30-2021
Tuition and Fee Income$1,132,360 Tuition and Fee Income$1,034,389
Parish Subsidy$500,000 Parish Subsidy$520,000
Foundation Support$205,421 Foundation Support$207,129
Additional Foundation Support to Close Deficit$200,000 Possible Foundation Support to Close Deficit$260,000
Total School Investment$2,037,781 Total School Investment$2,021,518
Pre-K to 12 Grade Student Enrollment333 Pre-K to 12 Grade Student EnrollmentTBD
Total average Investment per Child from Parents, Parish and Foundation$6,119 Total average Investment per Child from Parents, Parish and FoundationTBD
  • A couple comments to conclude:
  1. This information gives us a starting point. There’s nothing here to make us worry; if we are concerned, that is good because it will call us to action.  When we discern our actions, we take action that is guided by the Holy Spirit and not reactionary motivated by fear and worry.   
  2. With so much newness and a pandemic, if we end the fiscal year only $31,000 behind budget, we should celebrate that!  It also means next year we need to come out ahead, but we should not be upset making it this close to budget in a year of change.
  3. We need to pray and discern about how to assist our 61% to feel more engaged in the life of the parish.  
  4. In 2001, there were 1600 on an average Sunday in October; in 2019, there were 981.  How do we start increasing the number of people at Mass on Sunday?
  5. The bishops of the United States say the best way to transmit the faith and keep our young people attending Mass after high school is through a Catholic School education.  We know our school has been through economic hardships before; how do we increase our investment in a Catholic Education to sustain it for several generations into the future? 

In our final letter in this series, we will say more about these comments.   

Sincerely,

Fr Dave and Fr Joe