Holy Spirit Church Financial Report 2021-22
Every year, we publish a finance report to the parish. As you will read in this report for the fiscal year, 2021-2022, we have continued to maintain our parish facilities and operations. In an effort to offset the rising costs we all experience, the parish has tightened its belt through conservative and judicious spending. Happily, the overall financial picture is stable – one that provides the ability to celebrate and share our faith.
During the latter half of 2021 and first half of 2022, we were able to gradually return to in-person mass in greater numbers and celebrate time together as a community with many ministries back in action, albeit on a smaller scale than our pre-pandemic engagement. Our budget for the 2021-2022 fiscal year anticipated a return to mass and program activities in greater numbers than we experienced, which resulted in the budget shortfall in both Offerings & Collections as well as Programs & Events. Those negative variances were partially offset by a large unbudgeted donation included in the Gifts, Donations & Fundraising. Overall, revenues were 96% of budgeted expectations.
As compared to the prior year, revenues of $2,557,603 were down modestly to $2,503,196 in the 2021-2022 fiscal year, with a decline in Offerings & Collections. As discussed in our prior year’s Financial Report, total revenues last year (2020-2021) were down 20% from the previous year (2019-2020), as we enjoyed pre-pandemic engagement during most of that earlier timeframe. As we look ahead, we have much to rebuild and are excited to move together in that direction. For example, we will continue to revisit the need for online giving and have programs in place to work with parishioners individually who would like assistance with setting up online giving or updating their donation amounts. A registration drive is currently in progress, encouraging those parishioners who are not registered in the parish to do so and assist them in the process.
During 2021-2022, we were able to achieve cost savings in both Salaries & Benefits as well as General Operating Expense categories, as compared to the budget. Overall expenses were $2,415,357 or 94% of budget, but support of the school, a most important mission, was on target with budget expectations.
I am indebted to the many experienced, dedicated, and knowledgeable parishioners who have advised me on finance and facilities management. Much of what we have accomplished is in large part due to the many who give so tirelessly of their time, talent, and treasures. Their enthusiasm, commitment and faith inspire me daily. Most of all, I am very grateful for all of you and your continued generosity and support.
As always, be assured of my continued prayers for you and your loved ones. The more we stand together in faith, the stronger we are and the more the Lord can accomplish through us.
If you have any questions, comments, or suggestions regarding this financial report, please contact the Finance Council through the parish office at (408) 997-5101.