Finance

We Generally Give to A Need
We Will Learn The Need To Give

Finance Committee

ChairPerson:      Larry Thompson

Don Byron           Doc Hoehn
Joe Fritz              Bob Lenertz
Gregg Johnson    
Vance Swanson

 
Sacred Heart Church
Financial Report
For the Month and Year to Date Ended January 31, 2010
(Fiscal Year is July 1, 2009 to June 30, 2010)
                   
        Actual Budget   Actual Budget  
        Current Mo. Current Mo. Variance YTD YTD Variance
Income                
                   
  Church Support  $     48,187  $     55,164 ($6,977)   $     337,173  $    385,360 ($18,788)
                   
  Investment Income                  192                      200     (8)                     1,369                     1,400     (31)
                   
  Other Income         21,436

              26,926    

(5,490)

           294,474   

          282,788 11,686
                   
    Total Income  $     69,815  $      82,290 $ (12,475)  $    681,203  $     688,335 ($7,132)
                   
Expenses                
                   
  Employment  $     68,445  $     73,918 $5,473  $    469341  $     512,261 $42,020
                   
  Program          19,7751

       24,191 

  4,416        207,525        206,478 (1,047)
                   
    Total Expenses  $      88,220  $   98,109 9,889  $    676,866  $     718,739 $  41,873
                   
Net Operating Inc. (Loss)          $18,405

         $15,820

 $2,526)      $  4,337   $      (30,404) $34,741 
                   

Church support is below budget for the month by $6,977, and below budget for the year by $18,788.  We still need to be diligent in our offering to make up for this shortfall.

Sacred Heart Parish offers the option of electronic giving. If you wish to have you church support transferred directly form you bank account to Sacred Heart, just call Helen at the rectory Office, 835-1222, and she will get you started. 

Message from Finance Committee

Annual Diocesan Appeal

    Goal for 2010:       $45,000.00
   
    Pledged to date:   $10,000.00
    Percent to Goal      22%

    Needed to goal:    $ 35,000.00

Scrip

Profits Go to the School

Profit from $crip .....$ 384.76

     Direct deposit from checking or savings available.
     Call 835-1222

 

The Finance Committee watches the funds for Sacred Heart and acts as an advisory body for Father who is responsible for managing the Church Financial affairs.

The Committee meets monthly throughout the Fiscal year of July 1st through June 31st.

 

Message from the Finance Committee

 Printable Version

Sacred Heart

Finance Council Message

Weekend in November (8th or 15th), 2009

By: Larry Thompson, Chair (and others) 

Last March, I summarized the responsibilities of the Parish Finance Council and the process that we follow that is governed by the diocese that provides guidance to Father and the Parish Pastoral Council in regard to the financial requirements to execute the desired mission and objectives of the parish.  My message also included the need for an immediate increase in giving in order to continue to provide the established programs of the parish.  I am pleased to report that the parish did respond and giving increased to cover the program costs. 

As you can see, while giving increased toward the end of the year, and we continued to provide the established programs, for the fiscal year, expenses exceeded income, and reserves were depleted.   

As we approached the budget process for 2009-2010, we closely evaluated each area to assure that the expenditure was aligned with our mission.  In addition, we asked for increased involvement by lead staff positions in the budget process.   The church leadership did a great job in the process and I assure you that the expense side of the equation is well managed and efficient.   The staff recommendations included personal sacrifices with increased insurance costs and lack of wage increases.  The budget also included a contingent savings component delaying the replacement of two positions – music liturgist and faith formation.  These positions continue to be delayed, because of our cash position, yet we acknowledge that is partly caused by timing issues – as we experience a seasonal decline in giving in the summer months, while expenses are higher with annual premiums of insurance and benefit expense.  If giving rebounds, we may be able to cover these expenses, and still build our reserves, yet that are up to the parishioners with the decision to give.    

We continue to closely monitor spending to assure that the resources are properly administered to the parish objectives.  And, we must recognize that the delay in position replacements creates higher expectations and demand for volunteers, increases the demands to father, and generates questions and concerns on whether the mission of the church is being met. 

The Finance Council continues to be concerned about the financial health of the parish and is also seeking assistance from experts outside the parish community to remedy the situation.  The Parish Council, Stewardship Committee, and Finance Council are working collaboratively to identify solutions and retain the strong history of the Sacred Heart community.  Thank you for your active involvement in this effort.