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Holy Spirit Church is pleased to present the financial results from fiscal year 2011-12, which ended on June 30, 2012, as well as our plans and budget for fiscal year 2012-13.
The Church Finance Council reviews the monthly church financials and in particular, the data detailing the "budget versus actual". We know that the community, as a whole, relies on us to keep a watchful eye on how we are accomplishing our goals within our financial resources. We are pleased to say that during this time, with the partnership of Fr. Brendan, and the entire staff, we remain in a very stable financial position.
The 2011-12 Finance Council membership consisted 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. Rick Harbrecht and Dave Salverson completed their terms on the Council this year and we sincerely thank them for their many contributions of time and talent. New members Dory Wasson and Anthony Mederios will join the council in October for the 2012-13 fiscal year.
In 2010, we began reporting financial results with expenses centered on important ministry areas to facilitate a better understanding of the Church’s financial position and address the financial plans and results of the parish’s operations.
This reporting model assigns and allocates all of our parish staff, facilities and administrative expenses to these ministry centers. We believe this reporting method more clearly represents the full cost of operating these centers. Our hope is that you will have a clear understanding of the investment we are making in our community's spiritual future and the work assigned to us. We always remain open to parishioner feedback and questions.
Last year's income was $1,372,867. 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.
We are particularly pleased with the results of two of our financial initiatives. It is with gratitude that we are able to report the ambitious goal to fund $100,000 of our stewardship commitment to Our Lady of Refuge through increased regular weekly offerings was accomplished. The other significant and positive event has been the willingness of many parishioners to embrace stewardship and provide an annual pledge of their regular Sunday Offering. As a result, we are better able to plan for the parish’s needs. For 2012-13, we hope to increase the number of those willing to commit to a stewardship pledge.
Last year's total expenses for all ministries were $1,352,944. These expenses are divided between five major ministry areas. The largest investment area was for Parish Programs, followed by Faith Formation, Liturgy and Worship, Youth Ministry and Pastoral Care. We are pleased to report that for the first time we have been able to fully fund our reserves so that we can begin to have funds to maintain our facilities within our ministry budgets.
As in the past, the staff has worked very hard to ensure that the 2012-13 budget will continue to serve the needs of the parish community and build on the work done in the past.
The 2013 budget includes $80K in facilities reserves that were not in the FY12 actual facilities expense. This budget item will allow us to set aside money to help maintain our facility and continue to provide services. Health Costs have increased 9% and clergy retirement costs have increased 15%. These expenses have been distributed across all the ministry areas and account for a portion of the increase in budget.
Pastoral Care and Youth Ministry budgets have remained approximately the same or slightly increased for next year, while the Liturgy budget has slightly decreased. The budgeting decisions were made based on the areas that the parish leadership felt was 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. All budgets look higher because they are each assigned a piece of the additional facilities reserves.
How can you help?
As responsible stewards, the staff and Finance Council have tried to maintain conservative spending on all costs while still trying to provide the high quality of services you have come to reasonably expect.
This past year, we asked all of our parishioners to think and pray about what you are able to give each month 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 making a pledge for the coming year. Where possible, increasing the gift would allow us to continue to build on new initiatives and spread our ministry work.
We understand that what we asked in our Financial Stewardship Appeal might have been a new concept. This appeal is a written, planned gift of your Sunday Offering. It is the same as your weekly Sunday Offering. We simply asked 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 was valid from October 2011 through September 2012. We will ask that pledges be made each October moving forward.
We are happy to report that many families have made a written stewardship commitment. Last year, over 660 families have made pledges totaling almost $$860,000. This amount pledged in advance gave us a strong indicator that we would meet our anticipated expense budget of $1,352,944. Next year, our expense budget is $1,422,103.
There are just over 2000 families registered at Holy Spirit. This means that 30% of our families gave us a written, planned pledge last year. However, 450 of the families receiving envelops each week – have continued to be generous givers but have not made a written, planned pledge. We encourage these parishioners to consider a pledge for this next appeal starting in October 2012.
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 spiritual nourishment.
We remain in economically challenging times when more people reach out to their faith community for help. This time represents an opportunity for us to reach out to many who have lost their way and fallen away from the Church. It has also proven to be an opportunity for us to reach out and minister to our brothers and sisters at Our Lady of Refuge and provide them with support and a place to worship.
While "treasure" pays the bills, and it is the focal point of this Committee, the "time and talent" you have to share with your fellow parishioners is equally as important. That is why we will again be polling parishioners in various ways about how they would like to share their time and talent for the betterment of our parish community and for those beyond its boundaries.
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
2011-12 Holy Spirit Church Finance Council: