As promised, please find the consolidated statement of receipts and disbursements on the opposite page. I have also included a comparison to the prior fiscal year. As you can see, we finished the fiscal year (July 1, 2011 – June 30, 2012) comfortably “in the black.” I will address several items of interest with regards to the financial statement.
Our primary source of revenue is obviously the offertory collection. We recognized an increase of 6.18% over last year. This is a true testament to your extreme generosity in the face of a very unfriendly economy. The votive candle offering has also been a pleasant surprise, generating $28,000.00 last fiscal year. Memorial Garden revenue increased by over 9% and was responsible for over 5% of our total revenue.
Although our total revenue decreased by 1%, there are a few variables at play which can account for this decrease. Restricted revenue from the sale of Stations of the Cross and benches in the Prayer Garden was recognized last fiscal year. We also received a bequest last year and did not this year.
As far as expenses go, we recognized a decrease in several categories. Salary expense remained stable even though there were numerous staff changes during the year. Total expenses decreased by 5.44%.
You will notice that we do not recognize any of the Non-Parochial collections on this statement as they are technically “pass through” accounts, meaning that every dollar contributed is subsequently forwarded to the respective entity. Non parochial collections include all of the special and second collections that are taken during the year (Church in Latin America, Seminary, Black and Indian Missions, etc.) Included as Non-Parochial collections are Habitat for Humanity and Jamaica Outreach. The Catholic Faith Appeal is also omitted from this statement.
We have a very involved Finance Committee presently in place and they are working diligently to ensure that we continue to reduce expenses. Several members have worked tirelessly with me in the budgeting process. With their assistance, I am confident that we will have another successful fiscal year in 2012/2013.
In summary, I would like to once again thank all of our parishioners for their generosity this past fiscal year. We are all blessed to be a part of this amazing parish.
In addition to replacing the granite markers in the Memorial Garden we are also realigning the current markers so that they reflect their accurate location. Mark Nagan (Buildings and Grounds Committee member) designed a grid to be placed on top of each section which will allow for the proper placement of each granite marker. If you visit the garden, you may notice that the marker of your loved one has shifted an inch or two in either direction. The cremains are not being disturbed, only the marker. Many of the markers have sunk slightly over time and shifted due to the fact that they are placed directly in the ground. This realignment will give a much better aesthetic to each section of the garden. Many of the older sections on the East side of the garden are very skewed. Thanks for your patience and understanding while we make these important changes.
In the next month we plan to begin renovating the bathrooms in the Parish Life Center adjacent to the ballroom. We will address one at a time and guests will be able to use the classroom hallway bathrooms while this renovation is taking place. Believe it or not, the Parish Life Center is over fifteen year old and has seen its share of wear and tear, especially in the bathrooms. The renovation will be similar to what we did in the church a few years ago. We will replace the archaic floor and wall tile and replace with an updated version. We will also install granite countertops. We will only recognize the cost of materials as we are using our maintenance staff to complete the install. As you may remember, two of our maintenance staff members are former tile and marble setters and will do an amazing job. We look forward to this much needed renovation and trust that you will appreciate the finished product.
We are currently seeking individuals interested in working in the nursery which is located in the Parish Life Center. This is a paid part time position. Candidates must be at least 18 years of age, willing to be fingerprinted, participate in a Safe Environment Training seminar and be able to handle multiple children at one time. If you are interested, please pick up an application in the parish office.
In His work together,
Scott Schlossberg, MBA
General Manager