Finance Council

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

Council members include: Father Hayatsu, Pastor, John Eisen (Pastoral Associate for Administration), Tim McCoy, Terry Douglas, Pete Otten, Nancy Hughes, Nancy Sorensen, Dean Anderson, and Mark DeRitis.

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

Explanation of Footnotes

1. Sunday gifts include offertory envelopes, loose change and Christmas Masses gifts. Sunday gifts account for 91.5% of the parishes’ total income. For 2009-2010, the Sunday goal was adjusted to reflect last year’s actual.

2. CYO Athletics Program is budgeted as revenue neutral program. In additional to covering program expenses, it also pays the parish $5,000 for using the family center. (2a) Last June, the Finance Council and the pastor agreed to drop the gym fee in the 2009-2010 parish budget.

3. Family center had four sources of revenue: New and renewal of business banners, CYO gym fee, rental fees from outside groups like John F. Kennedy High School, and the school’s commitment of $5,000 from its fall and spring plant sales. (3a)With the new 2009-2010 budget, the $5,000 CYO gym fee was eliminated.

4. In April, the parish hired a full-time parish secretary instead of relying on three separate individuals to cover the front office. This decision increased salary and benefit costs. Also, the parish gave a Christmas bonus to all of its employees because they had not had a salary increased since 2005.

5. Expenses were reduced because Fr. Angelovic moved to a new location.

6. In December, the full time position, Pastoral Assistant for Faith Formation, was reduced to half-time. In January of 2009, the Dan Colgan decided to return home. In March, the Pastoral Assistant for Children’s Ministries, Sr. Blanca, left for a chaplaincy program at Berkeley. These staff reductions accounted for most of the $35,653 savings in our faith formation ministries.

7. For 2009-2010, the parish consolidated these two positions into one. Cheryl Brooten was hired as Pastoral Assistant for Faith Formation. Her responsibilities cover faith formation for K-6th grades, 7-9th grades and 10-12th grades. She has a paid assistant that helps her with children’s program and supervises Michael Stein-Ross (6th grade teacher in our elementary school) who will be leading a new Jr. High program called Edge.

8. After serving the parish as Outreach Project Coordinator for nearly 6 years, Linda Stryker voluntarily decided to pursue other interests. The pastor decided not to replace her position. Frances Davis, Pastoral Assistant for Outreach, assume some of her responsibilities.

9. The parish provides the school a subsidy (income) and pays (indirect income) for utilities, property and liability insurance, and some of its maintenance costs. The 2009-2010 parish subsidy had a slight increase to the school. The total subsidy and indirect support are calculated by multiplying 28% times the previous year’s Sunday gifts.

10. Costs include new asphalt patch near Unity Place, new south parking lines & fire lanes, and new processing board for our aging partner phone system. Regulatory and utilities cost went up.

11. Facilities budget was increased to reflect higher costs to maintain our facilities.

12. Besides the $5000 “rental” charge for the family center, CYO Athletics costs depend on the number of teams in each of the sports, periodic replacement of worn-out jerseys, and non-functional equipment. Increases in expenses mean CYO is growing. This is a very good thing.

13. Spot repairs of the family center floor, checking the drainage system around the family center (its working), repairing an unusual exhaust fume issue because of a faulty seal, and unexpected utilities cost account for the overages.

14. Based on previous year actuals, this figure represents the average cost of operating the parish gym

15. This is a new item to our operating budget. Pledge owed is $22,500. The plan is to pay it off over the next 36 months or $7,500 a year.

16. Because of new rectory roof, exterior painting of our buildings, equipment replacement, new lights for our parking lot, and related expenses, our unrestricted cash reserves are down to $35,000. The parish needs to build them back up.

17. If the palisades pledge and funds for the cash reserves are excluded as expenses, then parish budgeted expenditures are at their lowest level since 1999.

18. 2009 Annual Catholic Appeal pledges exceeded our goal of $104,434. Any refund from the appeal will be directed put into a fund for the painting the interior of the church.

19. Starting loan balance was $327,983 July 1, 2008 and ended June 30, 2009 at $129,960.01. Loan Interest paid was $12,544.88. (Interest on the 15 year loan is 6.75%)