Finance Council

Finance Council

The Finance Council is an advisory group that approves the parish operating and capital budgets, the parish subsidy amount to the school, analyzes giving trends and makes recommendations regarding parish finances to the pastor and/or Pastoral Assistant for Administration.

Council members include: Father Hayatsu, Pastor, John Eisen (Pastoral Associate for Administration), Terry Douglas (Chairperson), Pete Otten, Nancy Sorensen, Angela Doell, Dean Anderson, and Mark deRitis.

The Finance Council meets on the 2nd Tuesday of each month at 7:00pm.

2014-2015:
Sunday giving
increased by 2% over last year. The goal was 4%. 4% to meet operational and capital needs. CYO is reported in parish report as a revenue neutral program. Revenue equals expenses.  Actual income was $49,108; Actual expenses were $45,956.
Gifts - unusual donations that total $14,600 and maintenance fund boost this area of revenue.
Pledge - refers to a donor who is helping the parish with its loan for rental property & Annual Catholic Appeal Refund
Rental income - people using our facilities  and leasing the rental house.
Fund raising - includes school support of family center & Annual  Catholic Appeal.

School Ministry - parish provides income and helps pay for maintenance, utilities, insurance and supplies.
Maintenance - covers  repairs, new equip. like water heaters, servicing  furnaces, and maintenance staff.
Administration  - includes  supplies, network, bank charges, contractual services and administrative staff.
Insurance/Taxes/Loan Interest is for property and liability insurance, real estate taxes and loan interest on the corner lot that was purchased in 2007.
Assessments - archdiocese assesses the parish  for its general operations  & special ministries.
Youth Ministry - refers to two part-time youth ministers and program expenses.
Outreach 28 different outreach projects & staff

Annual Appeal - our refund was $3,402. The funds are for new Unity Place Chairs.
Operating Cash Reserves  - Archdiocese recommends three month of operating cash reserves or about $275,000.
Capital Reserves are restricted funds that can be used only for capital expenditures.
Property Mortgage Loan:   A generous donor and house rental income  pay the $2,200 a month mortgage payment to the Archdiocese.  Archdiocese recently change its loan interest rate from  6.75%. to 5.5%.
Capital Projects basically spent this year's "surplus of $34,920.
Mortgage principle balance as of 06/30/2014 was $345,897

Financial Snapshot   
2014-2015 Parish Revenue
   
Sunday Giving  990,412
CYO  35,424
Gifts  50,373
Fees / Interest  18,598
Pledges  17,708
Rental Inc  15,000
Fund raising  14,036
Total  $1,141,551
   
2014-2015 Parish Expenditures
   
School Ministry  196,776
Maintenance  119,101
Administration  139,472
Liturgy & Music  123,714
Pastoral Care  86,607
Insure / Taxes / loan Interest  74,610
Assessments  62,112
Utilities  56,222
Faith Formation & Sac. Prep  93,566
CYO  35,418
Supplies & Equip Leases  54,630
Youth Ministry  25,640
Outreach  38,763
Cash & Capital  Reserves  34,920
     Total
 
 $1,141,551
Catholic Annual Appeal  
Actual Pledges received:   131,578
$3,402 Appeal Refund for new UP Chairs
 
Cash Report  
Total Cash  209,072
Less Liabilities  (116,190)
Operating Cash  76,009
Capital Reserves  16,873
Total Cash Available 
 
 92,881
Capital Projects  
Church Carpet, New UP Water 
 Heater & Sealing/ striping   
Parking Lot - Total 
 
 31,277
Property Mortgage Loan  
(Ending Balance 6/30/2015)  $339,134.00
 
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