The fiscal year July 1, 2019 through June 30, 2020 was challenging due to the COVID-19 pandemic. Mass attendance in the April through June quarter was restricted and has not yet recovered. We anticipate that the 2020-2021 fiscal year will be a difficult one and so we will use funds from the parish’s general savings account to fill the anticipated gap between income and expenses.
The parish received a Payroll Protection Program loan of $31,455 to cover payroll-related expenses during the pandemic period. The loan forgiveness process is underway. The diocese waived our fourth quarter cathedraticum and priest welfare and retirement payments ($11,156 and $7,411).
- As of June 30, 2020, the parish’s checking account balance was $81,585.10.
- As of June 30, 2020, the parish’s savings accounts had a balance of $751,809 where:
- $32,404 is set aside for property insurance, cathedraticum, priest welfare and retirement, and other large, recurring expenses.
- $198,478 is set aside for capital projects outlined in the God’s Work~Our Challenge and Cathedral capital campaigns (in 2001 and 2012).
- Of the remaining balance,
- $150,000 is our emergency fund, which is used to fund catastrophic system/service failures.
- $150,000 is our contingency fund, which is used to fill in for lack of offertory.
- $220,9274 is available to spend on the prioritized needs of the parish.
During the 2019-2020 year, we:
- replated liturgical vessels
- installed the Vocation Station in the church narthex
- replaced the door security system in St. Joseph Hall
- replaced the fire alarm systems in St. Joseph Hall with one unified system
- replaced our office computers
- replaced one of the heating/cooling systems serving the 1999 wing of St. Joseph Hall
The parish's financial statement is found here