Parish Financial Report 2023

On behalf of the Property and Finance Council, I am pleased to provide a financial report for 2023. Please find a separate attachment for the 2023 Financial Statement on which these remarks below. Members of the Property and Finance Committee will also present this report at each mass this weekend. I thank these parishioners for their wise counsel and advice: Tom Pippy, Peter Kastelic, Maureen Kelly, Mike Furlong, Christine Burton, Mike Niejadlik, and Fred Taggart.

This past year was the first full year without COVID 19 restrictions. Attendance at mass is recovering closer to pre-pandemic levels, and our ministries are again holding in-person meetings and events. This return to normalcy is reflected in our financial results. Offertory revenue has recovered to within 8% of the pre-pandemic average. During the past year 44% of the offertory came to us in a digitized manner…Pre-Authorised Giving, use of the debit/credit card machine at the parish office, and online donations though the Donate Now button. Thank you for considering using these digital methods to support the parish.

Special Collections are back to the pre-pandemic level. Of special note, our ShareLife Collection was 15% higher than in 2022. While not recorded in these financial statements, we are also grateful for the increase in support that you gave to the St. Vincent de Paul Society last year. We thank you very much for your generosity in continuing to support those in need in our Archdiocese and our local community.

The big item in our capital budget in 2023 was the replacement of our 36-year-old carpet with new tile and marble steps in the sanctuary. We also took advantage of this opportunity to re-orient the tabernacle and baptismal font: moving the tabernacle to a quieter space, as well as to eliminate congestion near the doors to the hall foyer and provide a safer floor-level footprint for baptisms. As you can imagine, this was a complex renovation which had the church closed for several weeks last summer. The entire job, including required sound baffles at the back of the church and improvements to the sound system, totalled $640,000. We have heard many positive comments from parishioners about the appearance and quality of the finished product. The project was funded from the amounts held on deposit with the Archdiocese.

You will recall that this balance on deposit earns interest for our parish and is the fund that we draw on for future capital expenditures. Our balance on deposit with the Archdiocese is now just shy of one million dollars. We have no major capital projects in this year’s plan but, as for any building approaching 40 years of age, there are always items that need attention. We do recognize that our HVAC system will require an update to meet the parish’s needs, and the hall and kitchen will soon require attention as well.

Once again, on behalf of all of us on the parish staff, I would like to thank each of you for your extraordinary support of the parish during 2023. We truly appreciate your loyalty and continued generosity to our parish community.

Parish Financial Statement 2023.pdf