For the period of July 1, 2019 – June 30, 2020

November 22, 2020


To: The Pastoral Council and the members of Our Lady of Perpetual Help Parish

From: Our Lady of Perpetual Help Parish Finance Committee

OUR LADY OF PERPETUAL HELP PARISH FINANCIAL REPORT

The Role of the Finance Committee: The Finance committee for Our Lady of Perpetual Help is an advisory council, independent of staff, which provides oversight to financial matters, fundraising and budget proposal. We are very pleased with the fiscal management of the finances for the year ending June 30, 2020. Contributing factors include generosity of our fellow parishioners and prudent management of expenses by the parish staff throughout the year.

Parish Budget & Net Income for Fiscal Year July 1, 2019 through June 30, 2020: The operating budget is set by the parish staff, reviewed by the Finance Committee and approved by the Pastoral Council and Pastor. Created for planning and evaluating the performance of the parish over the course of the fiscal year in relation to the mission of the Church and evangelization goals of OLPH, this past year’s budget was established with projections for a decrease in income, and a series of contingencies for unplanned expenses for the fiscal year end 6/30/2020. The parish concluded the fiscal year with a net loss of $223,726 and the school with a net gain of $85,143 and stable enrollment.

Parish Administration: Strong internal controls, fiscal management throughout the year, and reinvestment of Fiscal Year End 2019 net income allowed for the parish to remain committed to the mission amidst the following situations:

    • We find ourselves in the second year of offertory gifts to the parish trending downward. Compounded by COVID-19 and 12 weeks without in-person attendance at Mass had a significant impact. While encouraged by a $63,000 increase in electronic giving, the shifts in gifts to on-line did not outpace a decrease of $185,000 in-pew donations.
    • Throughout the year the parish remained committed to outreach, staff retention, and the expenses required for mission-focused activity. All non-essential expenditures and vendor relationships have been eliminated and alternative process solutions sought. Team commitment to expense management was exampled by the OLPH parish staff as they absorbed the workload of two staff resignations concurrent with no salary increases for two consecutive years.
    • The parish applied for and received an SBA-PPP grant to help bridge the gap between a decrease in offertory and continued payroll and health care benefits. The funding for this solution terminated in June 2020, while the challenge to bridge the gap between offertory and payroll remains.
    • The last remittance to OLPH from the Embrace our Mission capital campaign was received for June 2020. The parish will no longer receive funds from this source of income and the capital needs proposed for this campaign have concluded.
    • Our Parish school finished a strong fiscal year with net income of $85,143 which allowed the school to restore equity levels depleted during the prior fiscal year due to capital improvements made to school operating space.

In a review of the operational plan, it is our recommendation that the Parish continue to manage capital expenditures and plan for continued lower levels of income. While it is not a long-term solution to expect the parish to do more with less, the current environment does not offer many alternatives. We will continue to assess and offer guidance throughout the year.

As we close this report to you, we reflect on the many blessing our Lord has bestowed upon us as a parish family and we are most grateful for the shared stewardship you offer through service in ministry and your generous financial support. It is only because of these gifts that OLPH can operate, a deep reason to pause in gratitude.

We continue to strive to be the best stewards of what has been entrusted to us. May God continue to bless you and OLPH Parish as we continue to serve Him as His pilgrim Church in mission.

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.

Parish Administration: Lisa Sliker (Parish Administrator), Janet Sumner (Accountant)