The Statement of Revenue and Expenditures includes the actual amounts of money we took in and paid out in the fiscal year (fy) ending 6/30/17, 6/30/18 and 6/30/19 as well as the budgeted figures for last year and the current budget for fiscal year 7/1/19 to 6/30/20. The Net Operating Revenue does not include Changes in Investment Market Value or the Affiliated Organizations like the Altar Rosary Societies. Nor does it include the expenses for major building repairs or purchases, they are considered Capital Purchases that are over and above our day to day operating costs, they are considered Non-Operating Revenues and Expenditures. The Net Revenue includes all the money we took in and paid out during the year, whether they were Operating or Non-Operating. During the fiscal year 2018/19 we had a Net Operating surplus of $16, 415; adding in our Non-Operating Revenues and Expenses we ended the year with a Net Revenue deficit of $17,740. Even though we ended the year with a deficit, we ended the year a little better than we had budgeted.
We had budgeted $36,000 this past fiscal year for capital improvements. We actually ended up doing over $50,000 in Capital Improvements; two expenses we had not budgeted were the organ for St. Patrick, Aurora and the Window at St. Michael Church. We were able to pay for these expenses from donations made to the Memorial Fund for the organ and the generous donation from Thomas Eldred for the St. Michael Window. For the past few years the plan to pay for necessary capital improvements was to use the surpluses from prior years and funds from donations made to our Memorial Fund in prior years. Those funds have allowed us to spend over $126,000 on Capital Improvements.
As I mentioned in the bulletin in July we still have many building needs to address and we will continue to budget funds for these necessary projects. All of these projects cost money and while our annual budget is a balanced budget for our ordinary operating expenses, revenues for the Capital improvements we need are not budgeted. So to help us to have funds to accomplish these capital improvements I encouraged parishioners to give money to the Memorial Fund. I am happy to report that since then we have received $18,100 in donations to the Memorial Fund! That money has allow us to pay for the church steeple repairs at Our Lady of the Lake Church. Thanks for your generous support. Other projects that we hope to complete in the next few years are replacement windows in the rectory/office in Aurora and the first floor of the OLOL parish house, and finishing replacing the roof. We also are looking at doing interior painting in the St. Patrick Moravia Church. As well as restoration work on more of the windows at St. Michael Church to avoid possible future damage of the stain glass windows. Your continuous gifts and donations to the Memorial Fund will help us accomplish some of these projects as we go forward.
For the fiscal year 2018/19 that ended June 30, 2019 the average weekly offering from our regular collections was $5,222. The 2019/2020 budget calls for a average weekly offering from our regular collections of $5,269 or a $47 increase in the parish weekly offering. So far in the first quarter of the 2019/2020 fiscal year, with the help of our summer parishioners, and our two holiday weekend fuel collections, we have averaged $5,409. Hopefully, we will continue to meet our budgeted amount as our number of parishioners grows less in the winter months. I thank you all for your continuous generous support of the parish especially in these trying times.
God’s blessings and peace, Father Bill