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A Message about the State of St. John Paul II Parish Finances, December 2020St John Paul II Parish Financial Report
January 2021
Below is our income and expenses we paid for the last two fiscal years (September through August):
Income vs. PAID Expenses
FY 2018-2019 (September 1, 2018 – August 31, 2019)
Income $800,092.29
Expenses $1,029,023.69
NET $-228,931.40
FY 2019/2020 (September 1, 2019 – August 31, 2020)
Income $877,961.92
Expenses $866,560.16
NET $11,401.76
We use the word “PAID” expenses because we have expenses which we are unable to pay the diocese, such as:-
- Property Insurance
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- Cathedraticum – 7.5% of our annual offertory collection, this is our contribution for services which the diocese provides, such as Marriage Tribunal, Catholic Schools Office, Family Life Office, Facilities Office and so on.
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- Communications Services – This is our contribution for the Catholic Free Press and the access we need to E-Catholic, the platform on which our website operates and other services to which it gives access.
These expenses add another $152,222.75 to our annual budget.Operating Expenses
The following pie chart breaks down our current annual operating expenses, that is, what we spend to keep the parish operating. The pie chart also includes those expenses that we do not currently pay to the diocese.
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PROPERTY INSURANCE
$ 99,539.00
CATHEDRATICUM $ 43,653.75
COMMUNICATIONS $ 9,030.00
PAYROLL $ 382,254.19
PAYROLL TAXES/BENEFITS $ 130,648.03
UTILITIES $ 139,550.09
PHONE/WATER/
SEWER/INTERNET
$ 31,765.31
VEHICLE INSURANCE/REPAIR
$ 33,184.94
BUILDINGS MAINTENANCE
$ 47,742.34
GROUNDS MAINTENANCE
$ 14,986.79
CHURCH EXPENSE $ 86,428.47
$ 1,018,782.91
Items in RED are UNPAID Expenses.15% of our expenses remain unpaid and increase our debt.
Total annual operating expenses $1,018,782.91 FY 2019-2020/52 = $19,600 a week (rounded to nearest $100).If we subtract the bills we do not pay the diocese (property insurance, cathedraticum and communications ministry), operating expenses are reduced to $866,560.16/52 = $16,700 a week (rounded to nearest $100).
Sources of Income
Sunday Ordinary and Holy Day Collections $566,443.78
Collections for Utilities $9,109.00
Fundraisers (Bazaar, 1-20 club, etc.) $36,014.50
Candles $3,642.33
Stipends from Memorial Fund $22,900.00
Gifts and Bequests (from wills, stock sales, etc.) $68,334.81
Flower Collections $4,658.00
Transfer from DEF Savings Accounts (money
raised from events at LaSalle, renting Notre Dame
Rectory, etc.) $89,109.50
Government Loan (COVID-19 Relief) $77,750.00
TOTAL $877,961.92
Capital Expenses
New Truck $45,755.00
New Parking Lot $12,000.00
Parish Accounts
Diocesan Expansion Fund (DEF) Accounts
Parish Savings $64,008.07
Eugene Tapin Memorial Organ Fund $53,776.16
Cemeteries $28,637.42
Notre Dame 100+ $19,433.40
Memorial Fund $14,705.84
Trust Fund $6,403.05
Fr. James Kelly Memorial Scholarship Fund $2,035.08
Restricted Funds $563.31
Tithing $10.60
TOTAL $189,572.93
Checking $4,374,20
State of the Debt
Central Admin. Debt (Cathedraticum and Insurance) $483,192.77
Line of Credit $1,914,955.64
Total $2,398,148.41
Debt is down from $3,500,000 from June 2017, a more than $2,000,000 reduction.
Sale of St Hedwig
Sale of St Hedwig campus for $450,000.00 less expenses netted $407,889.46.