The fiscal year for our parish runs from July 1 to June 30. There are two reports included in the bulletin insert; one is a Balance Statement and the second is a statement of Revenues and Expenditures (sometimes called an Income Statement). The Balance Sheet report shows a comparison of where we stood at the close of the each of the last three fiscal years. The Total Assets being all the money held by the parish in various accounts, and the Total Liabilities being all the accounts that we have a responsibility to pay in the future. The Fund Balance is the Total Assets minus the Total Liabilities.
The Statement of Revenue and Expenditures includes the actual amounts of money we took in and paid out in the fiscal year (fy) ending 6/30/15 and 6/30 16 as well as the budgeted figures for last year and the current budget for fiscal year 7/1/16 to 6/30/17. 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. The bottom line is in 2014/15 we spent only $307.81 more than we received during the year and in 2015/16 we received $5,491 more than we paid out! We were able to do that and while still spending $15,963.89 and $18,266 in the last two years on Capital improvements. Those improvements include roof repairs and repairs to the side porch of the parish house at OLOL, a new boiler at St. Patrick, Aurora as well as new back steps to the rectory and new carpeting in the church, removal of the chimney at St. Patrick Church in Moravia and the installation of a power vent for the furnace and repair work on the front entrance.
This has been accomplished because of your generous response in 2014 to increase your weekly contribution for the support of the parish. The Parish Pastoral Council had shared with you at that time that we have over $300,000 in projected costs to meet current needs to rejuvenate our buildings and grounds. You responded by increasing your donations to the Sunday Collection by $22,213 over what had been given the previous year, allowing the parish to end the 2014 fiscal year with a net income of $35,520! The Financial Council that year earmarked the surplus to be used on capital improvements to the buildings and grounds as we went forward. I am happy to report that the $34,230 we have spent in the last two years on capital improvements we were able to pay for without using the 2014 surplus! We still have many building needs to address and in our budget for 2016/17 we have budgeted $25,000 for Capital Improvements. Some we have already accomplished like the new doors on St. Patrick Church Hall in Aurora and we are addressing new steps to St. Michael Church as well as other projects. The current budget is a deficit budget as was our budget last year. It is our hope though that this year we will end the year in a positive position as we did last year. If not we will balance the budget with the 2014 surplus.
Again I thank you for your generosity in support of the parish. With your continuing strong financial support we can budget for and address more of the capital improvements needed in our parish as well as assisting us to meet the pastoral needs of our parishioners and outreach to our brothers and sisters, especially those in need. As you make your weekly contribution to the support of the parish please consider the biblical notion of offering your “first fruits” back to the Lord.
God’s blessings and peace, Father Bill