HS Financial Report 2022-23
Each year, we publish a financial report to the parish. As you will read in this report for the fiscal year, 2022-23, the parish has maintained its operations, programs, and facilities. As we are challenged to offset the rising costs of goods and services that we all experience, the parish continues to “tightened its belt” through prudent and judicious spending, I am happy to report that the overall financial picture of the parish is stable – one that provides us the ability to celebrate and share our faith.
As compared to the prior year’s revenue of $2,503,196, 2022-23 reported $2,026,912, a shortfall of $476, 284, with the main decline in Offerings and Collections. We attribute this decline partially to the loss of many families that have moved out of the area and the continuing effects of Covid 19. To help offset the loss of revenue, the parish’s actual expenses came in at $1,865,021, as compared to $2,415, 357 in 2021-22 and a budget of $1,908,383. As you can see, the actual expenses came in at lower than budgeted amounts across the board. The parish has a number of future capital projects that it needs to financially prepare for including the re-roofing of the church and parish office building, a new HVAC system for the church, and of course, the unforeseen but inevitable repair and/or replacement. Our financial goals allow us to plan appropriately for this by allocating $170,000 to address these capital needs.
We are grateful that we completed the much-needed parking lot project at a cost of $120,196 and many other projects related to our aging campus. We continue to provide the monthly editions of “Give Us This Day” and “Living Faith,” as well as seasonal Blue, Black and White books to enhance our prayer life during Advent, Lent, and the Easter season, respectively, at an annual cost of approximately $20,000. We are also happy that our Seniors’ luncheons have been re-instated, as well as offering “Soup Suppers and Speakers” during Lent, an evening Praise and Worship, and an introduction to the Alpha program.
I am indebted to our Finance Council – a group of experienced, dedicated, and knowledgeable parishioners who advise me on financial 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.
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 our Lord can accomplish through us.
If you have any questions, comments, or concerns regarding this report, please contact the Finance Council through the parish office at (408) 997-5101.