August 24, 2011

Dear Parishioners,

Attached to this letter is a report on parish finances for the fiscal year July 1, 2010 – June 30, 2011.  The middle column shows the actual income and expenditures; the first column allows you to compare what was budgeted and the third column lets you compare with the 09-10 fiscal year income and expenses.

The very last line of the report shows that we finished in the black by a substantial amount of $239,269, as we did in 09-10 with $110,831.  There are two primary reasons: the Msgr. Lafferty Tuition Foundation has over the past two years provided $398,820 in funds for tuition assistance, and the Greg Kestel estate has had two very good years of selling grain at a time of record high prices ($196,866 and $101,668 respectively).  Both the Msgr. Lafferty Tuition Foundation and returns from the Kestel Estate will be much more modest next fiscal year: the foundation has reduced allocations, and the trust is now operated on a cash rent basis rather than crop share.

The “bread and butter” of parish income is weekly contributions.  A glance down the beginning of the report reveals generosity across the board.  Thanks to all of you for supporting your parish!

The last section of the report contains income and expenses from a variety of additional sources, for instance:

• debt reduction (pink envelopes!!): $28,734.
• building renewal: $4,485
• rental income from the convent (two St. Mary’s teachers and our Hispanic pastoral minister) and the yellow house north of the convent (rented also by teachers)
• ball money, cemetery money, etc. 

This makes our bottom line look good, making up the $18,779 deficit from ordinary income / expenses (cf. middle of page 2). But remember that many of these funds are restricted for a particular use and do not really help us cover our ordinary expenses.

Both our annual Alumni Appeal and St. Mary’s Ball had record setting years; we are grateful to Dawn in our Development Office in for spearheading both these projects.

The Scrip program continues to be important source of funding, raising $7,382 this past year from the after-mass sales from the parish office.    (Families raise additional funds to pay their tuition through weekly orders.)  And the SOS Thrift Store contributed over $125,000 directly to St. Mary’s School and its teachers.  Thank you to all who support the store, especially those who volunteer to work there!

Two bits of good news to look forward to: first, we should soon retire the parish debt that once stood at $270,000, now down to $3,400.  Thanks to all who use the pink envelopes, and all who contribute in general so that we do not have to borrow for operating expenses! (The pink envelopes will remain, with all donations going into a capital improvement fund for future maintenance and growth projects.)

Second, the budget for the current fiscal year predicts a surplus; should this come about perhaps we can start to address the long standing issue that our teachers are substantially underpaid compared with their public school counterparts.  We often lose good teachers just because they can’t afford to work for us!

Know that the Parish Finance Committee takes seriously its responsibility to oversee parish finances.  I am grateful to the members who served on this committee during the past year: (Parish Directors Wayne Andrews and Bev Wordekemper, and members, School Board representative Marty Broich, Darin Elsden,  Mike Kohler, Roxie Pertzborn, Rae Thompson,  Dan Richardson and Sonia Tapia,  along with parish Finance Director Martha Smith and Development Director Dawn Prosser.

We are grateful to all who generously support the parish in so many ways. 

Fr. Bruce

FY 2011 Financial Statement