Our Lady of Perpetual Help Parish Financial Report For the period of July 1, 2018 – June 30, 2019
Dear Brothers and Sisters,
As the Finance Committee, we would like to share with you our comments on the state of the Parish and School as of Fiscal Year End June 30, 2019.
OLPH parishioners continue their generous support to the mission and operations of the Parish. Income from operations ($1,657,785), along with additional revenues ($551,903) from the Narthex Building Fund and Embracing Our Mission Capital Campaign remittances, were sufficient to cover Facilities, Administrative, Operations, Worship, Labor and Benefits for Clergy & Staff, Evangelization, Catechesis and Capital Improvements. Effective budgeting and efficient operations resulted in Net Income of $343,471, which has been reserved for the expenses associated with the Phase III Church Renovations incurred during the Summer/Fall of 2019.
Notwithstanding the generosity of the members of our parish during FYE 2019, our parish offertory collections were $84,980 less than the previous fiscal year, representing a 5.8% decrease in gifts. As we all know, the offertory collection is the primary source of income to support Parish operations and programs. A continued decrease in gifts during this first quarter of the new fiscal year, coupled with the end of Embracing our Mission Campaign Parish distributions, which accounted for $251,997 of FYE 2019 Net Income, are indicators to the Finance Committee for the need to closely monitor these variables in the current fiscal year and offer suggestions to the Pastor and financial staff as necessary.
This summer Phase III renovations to the church began, which included improved sound, lighting, and airflow to the church, renovated ADA compliant restrooms, water fountains, a hospitality center and a maintenance closet with an estimated cost of $340,000. Numerous campus improvements and continued maintenance & care was offered to other campus facilities, all within our financial means set forth in the FYE 2019 budget.
The financial support you gifted to the Parish during the past year, allowed for the Faith Formation and Sacramental preparation for our children, youth and adults, funded many outreach mission and feeding programs to the community and the world, offered pastoral care for those who suffer in our parish family, and allowed for our church to be a place of worship for all. It is our hope that all of these good works will continue and grow because of your generosity this year and in the many years to come.
Under the leadership of OLPH School and the OLPH School Board, our parish school operated within its operating budget for FYE 2019 and had a net operating income of slightly over $80,000 for the year. We congratulate the administration and the faculty for providing excellence in education in a very efficient manner.
We encourage our fellow parishioners to prayerfully consider increasing your Parish support so that, under the leadership of Father Mike and Father Rob, Our Lady of Perpetual Help Parish will continue to grow and provide a range of programs in support of all parishioners.
Thank you and God bless you for your outstanding contributions of your finances, prayer, time and talent in support of the mission of OLPH, to bring the love of Christ to all we encounter.
The OLPH Finance Committee members: Diane Carroll (Secretary), Brian Connelly, Tom Dispenza, Jeff Dolan (Chairman), John Fiedler, John Lingenfelter, Michael Munoz, Norm Pierce, and Chuck Steele.