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Second Quarter Financial Report

Parish Financial Report As of December 31, 2017 for the Fiscal Year July 1, 2017 - June 30, 2018

“The giver of alms should be free from anxiety and full of joy.  His gain will be greatest when he keeps back least for himself.” - Saint Leo the Great

In May of each year, the operating budget for the parish is approved by the Parish Finance Council (PFC) in advance of the upcoming fiscal year. Historically, these budgets have been based largely on the analysis of past revenues and expenses, plans for new programs and activities, and assumptions provided from the diocese relative to assessments, subsidies, insurances, etc., to be allocated to each parish. This fiscal year, considerable emphasis was placed on supporting the strategic mission-focused initiative of Stewardship Awakening: Reflect, Respond, Renew. At the time the budget was prepared, there were some uncertainties in the timing and projected offertory revenues to be realized from this this renewal of our stewardship commitment. As evidenced by the report mailed to all registered households this past November, this initiative was favorably embraced by the Holy Infant community. A final report on Stewardship Awaking will be published in the very near future.            

December 31st marked the end of the second quarter and mid-point of our current fiscal year. As previously reported, the first quarter offertory and total revenues reflected a deficit compared to both our new budget and the previous year. The total offertory shortfall was 13% below budget and 7% below the previous year. Analysis by the PFC indicated the following contributing factors:

  • Since diocesan protocols do not encourage seasonal budgeting of projected monthly revenues, the second quarter budget deficit is often due to lower Mass attendance during summer vacation months.
  • In recent years, more households have tended to make larger lump sum donations on a quarterly, semi-annual, or annual basis. The timing of these donations may vary from year to year, i.e. not necessarily received in the same quarter.

 

The second quarter of this fiscal year reflects a considerable improvement in revenues. The budgeted total offertory has been reduced to a 5% deficit, and collections are now 3% greater than the previous year. Total revenues reflect similar advancement. A more detailed presentation of the mid-year results appears in the summary below. Much of this progress can be attributed to your response to Stewardship Awakening, which was introduced to the parish in mid-October. We deeply appreciate your participation, and ask that you help ensure our continued progress by maintaining your commitment during this year.

Please consider enrolling in e-Giving! e-Giving provides a simple, time-saving way for your stewardship commitment to be planned and fulfilled on a consistent basis, even when you are away on vacation or for other reasons.

To begin your enrollment, click here. If you are already participating in e-Giving and would like to make changes to your account, please refer to the Log In area on the e-Giving page. Be sure to use the email address on file. For other questions or additional information, please contact the parish Financial Services Administrator.

Need Help Updating Your Offertory?

New Users: How to create an account and set up offertory payments

Existing Users: How to update your offertory amount   

Thank you for your generosity to Holy Infant.

 

Financial Summaries for First and Second Quarters