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Many thanks to all of you for your incredible gifts of time, talent and treasure. We are pleased to present the financial results from fiscal year 2010-11 which ended on June 30, as well as our plans and budget for fiscal year 2011-12. This report is a bit late this year due to the Stewardship Appeal and our efforts at Our Lady of Refuge.
Over the last eight years the Church Finance Council has had complete access to the financials and in particular the data detailing the "budget versus actual" each month. We know that the parish, as a whole, relies on us to keep a watchful eye on how we are accomplishing our goals within our financial resources. We are delighted to say that during this time, with the partnership of Fr. Brendan, and the entire Council, we have achieved a very stable financial position.
The 2010-11 Finance council membership consists of Pat D’Angelo as Chair, Brian Baer, Brian Cabral, Judy Deaton, Rick Harbrecht, Claire Martell, and Dave Salverson. Penny Warne serves on the committee as ex-officio in her role as parish administrator and Renee Sneed acts as Recording Secretary. All will remain on the Council for the 2011-12 fiscal year.
With many new members on our Finance Council as of last year, we continue to ask ourselves two simple questions in order to remain focused on our responsibility to the community:
In the process of answering these questions, the Council concluded that a more meaningful way to report financial results was to provide an accounting of our expenses centered on important ministry areas. This new reporting model assigns and allocates all of our parish staff, facilities and administrative expenses to these ministry centers.
For example, in past reporting, Liturgy consisted of expenses related to liturgical supplies and the salaries of employees for Music and Liturgy. In the new reporting model, all expenses that are related to Worship and Liturgy are included in the cost center. This would include the Church facility, a portion of the priests' expenses, as well as Liturgy salaries and administrative cost to operate the ministry. The resulting cost represents the total amount we invest to provide Liturgy and Worship to the community. We have applied this same model to the other ministries that make up the services Holy Spirit provides to our community.
With all of this in mind, we are delighted to present our financials in this same format for 2010-11. Our hope is with this new reporting, you will have a clearer understanding of the investment we are making in our community's spiritual future and the work assigned to us in the Lord’s vineyard.
As you can see from the charts and statements, last year's income was $1,193,997. The largest portion of the income is from weekly offerings. The remainder of our income is from the Annual Diocesan Appeal, Parish Programs, Sacramental Stipends, gifts and fundraising as shown in the chart and statement.
Last year's total expenses for all ministries were $1,171,910. These expenses are divided between five major ministry areas. The largest investment area was for Liturgy and Worship, followed by Faith Formation, Parish Programs, Youth Ministry and Pastoral Care.
The staff, once again, has worked very hard to ensure that the 2011-12 budget will continue to serve the needs of the parish community.
The largest increase is in Parish Programs where we include our investment in the diocese’s new Parish – Our Lady of Refuge. We have increased the budget for ordinary weekly giving by $100,000 over last year's budget to account for our stewardship commitment to Our Lady of Refuge.
We have also increased the budget in Faith Formation and Sacramental Preparation in anticipation of the large numbers of children who will be receiving Confirmation now that it is offered in their 8th grade year. We currently have over 100 children enrolled in Confirmation Preparation for 2011-12.
Pastoral Care and Youth Ministry budgets have remained approximately the same or slightly increased for next year, while the Liturgy budget has decreased.
These decisions were made based on the areas that the parish leadership felt were most critical to serving the needs of the community. This is due, in large part, to having a better understanding of where the money is spent in these ministries. The Liturgy budget has decreased due to expense management improvements and little need to expand spending.
The ongoing costs of operations continue to rise. Health benefit costs for all of the staff and priests as well as the retirement benefit costs have increased in fiscal 2012. The parish continues to seek ways to handle these costs.
How can you help?
As responsible stewards, the staff and Finance Council have taken every possible avenue to curb costs while providing the programs and services needed by a vibrant and engaged Christian Community. We have tried to maintain conservative spending on all costs while still trying to provide the high quality of services you have come to expect.
This year, for the first time, we have asked every parishioner to reconsider their giving to the local community of Holy Spirit Church through a Stewardship Appeal. We asked you to think and pray about what you actually give each week by reflecting on your annual income, your annual giving to the Church, and your annual giving to other non-profit organizations to determine your percentage of stewardship. We asked each family to consider increasing that gift and to make a written pledge of that planned gift.
We understand that what we have asked in our Financial Stewardship Appeal is a new concept. This appeal is a written, planned gift of your Sunday Offering. It is the same as your weekly Sunday Offering. We are simply asking you to prayerfully consider the gifts that God has given you and make a written commitment of what you plan to give back to God through the Church. This pledge is valid from October through September and we will ask annually every October.
We are happy to report that many families have made a written stewardship commitment. Thus far, over 600 families have made pledges totaling almost $850,000. This amount gives us a strong indicator that we will meet our anticipated expense budget of $1,338,144.
There are just over 1900 families registered at Holy Spirit. This means that 30% of our families have given us a written, planned pledge. However, 513 of the families receiving envelopes each week - have not made a written planned pledge. Those families that have not made a pledge will receive a follow up letter or email asking them to make a pledge. Click here to pledge now.
The well-being of the parish is dependent upon your generosity of time, talent, and treasure! Engaged communities need resources for creating and sustaining the many programs desired for nourishment.
In these economically challenging times, more people reach out to their faith community for help. This represents an opportunity for us to reach out to many who have lost their way and fallen away from the Church. It is also an opportunity for us to reach out and minister to our brothers and sisters on the Eastside of Santa Clara County and provide them a place to worship.
While "treasure" pays the bills, the "time and talent" you have to share with your fellow parishioners is equally as important. When we join together, we believe wholeheartedly that we can do great things with our ministry. We want to truly thank you for your past generosity and future support. We rely on your goodwill to continue what you have started. Thank you all.
Fr. Brendan McGuire, Pastor Pat D'Angelo, Chair of Finance
2010-11 Holy Spirit Church Finance Council: