I am looking at a summary of last year’s financial report. (It will be posted, hopefully by the time you are reading this, on the parish website.) The good news is that we ended in the black for the third year in a row. Thank you so much for the stewardship of your treasure which allows us to continue to proclaim the message of the gospel.
Unrestricted Revenues [41]** from Sunday Collections, Stole fees, etc., are about the same with a less than 1% variance to the good compared to last year. Restricted Offerings [43] were down because we did not conduct the Visitation appeal last year. Because school enrollment was up, Program Fees (aka: Tuition revenue) [44] were up. Investment income [45] took a slight hit, as we surrendered about $3K worth of value on our endowment. The Annual Catholic Appeal Emergency Parish Grant for our boiler hit our books during this fiscal year [46] And Other Revenues [47] were down because we dropped the Mandatory Fundraising portion for school families, as well as a decline in candy sales. The net result is that our overall income was down by $8.5K as compared with last fiscal year.
On the expense side, Personnel Costs [51] rose to the tune of about $12K. We entered into a long term service contract which accounts for some of the variance on Supplies [52] Fees and Services [53] were up, largely because of the farewell gift for Fr. Phil and bonuses given to the pre-School staff to offset no raises in the past two years. On the positive side, the warmer winter combined with the broken boiler, as well as a few other savings reduced our Occupancy costs [54] by $32K. [55] Insurance, Cathedraticum and School Office assessments costs rose by 1.6%. Overall expenses were flat, then, decreasing by $283. Thus, our net ordinary income was $64K.
Between the renovation of the women’s bathroom (from our Sponsor’s Dinner Dance fund), some of the repairs I spoke about in last week’s column, and the new computer lab, we spent just over $40K in capital expenditures. We wrote off some bad debt from uncollectable tuition (bankruptcy and the like) with net income for the year at $11,676.75
Thank you for being such great stewards of the treasure that God has shared with you so generously. As we look to Stewardship Sunday around the Archdiocese, let me thank you again for your generous sup-port to St. Ann, the rock of Normandy.
**refers to the numbering on the financial report.
