Financial Reports
This week we release the financial reports from all four parishes. The fiscal year runs July 1, 2021 – June 30, 2022. Stuffed in the bulletin is the financial report of the parish at which you attended Mass. If you would like to see the financial report from one of our other four parishes, they are near the doors. Feel free to peruse one or more of the financial reports. Overall, our four parishes are in good financial shape.
Finances are one of the hot-button issues in the Beacons of Light process. When our four parishes are merged into a single parish, we will share everything, including finances. Many are worried about what will happen to their donations and how money will be spent. That can be a troubling reality for many.
Our parishes currently share expenses. Every year our pastoral council approves an expense sharing agreement for our shared expenses. This includes salaries and programs that effect multiple parishes. For example, my salary is shared between all four parishes. To discern the expense sharing, we utilize a formula that encompasses Mass attendance, registered families, and CCD registrations. For 2022-2023, our expenses are shared in this way: St. Joseph 52%, Immaculate Conception 27%, St. John 11%, and St. Lawrence 10%.
You may wonder, “What portion of our expenses are shared between parishes?” For 2021-2022 our total expenses for all four parishes was $1.75 million and just over 59% (about a million dollars) was shared between our parishes.
This can all be a bit confusing. I struggle to find the right words to make this clear. If you have questions about finances and sharing money, please ask me in person. Please come to one of our upcoming open forums to ask any clarifying question that you may have.
On September 1st we had a pastoral council meeting and a member commented that there is sufficient funds to cover all our expenses at this point. Then she asked, “Why wouldn’t we expect that to continue even after we merge?” I share the same optimism as this member of pastoral council. Of course, there will be difficult conversations about budgeting and setting priorities, but this happens within a single parish as well. We always have to discern which projects take priority and which ones will wait for a year or two.
Over the last few years, so many different capital improvement projects have happened. I hope that this builds confidence that we plan to continue improving campuses and Church buildings. Ultimately, all of these projects serve the purpose of glorifying God and creating saints. All of our finances and buildings serve this great mission to spread the Gospel. I firmly believe that this eventual merger will make us more efficient in spreading the Gospel.
Later this month our four finance committees will be sitting down to discuss these matters. Please pray that the Holy Spirit will guide these discussions. Pray that the love of money won’t hinder the work of God in our midst. God is moving powerfully in our parishes. Let’s fan the flames of His love.
Sincerely in Christ,
Fr. Sean Wilson
