Enclosed is a summary of the
parish financial report (click link) for 2015 – 2016 fiscal year. I am so delayed in this presentation because, as I previously explained, with the changing of business administrators and the switch over to new software as mandated by the diocese, there was much work to catch up on before we could prepare this summary for you. In the future, this report will be presented in late summer or early fall. As you can see from the report, we are in a fairly healthy financial position, though the margins are slim enough that a significant expense or change in position could impact us negatively. Like all Catholic parishes in the Northeast of the country, we are low on stewardship, thereby keeping everything on the margins. For many historical and cultural reasons Catholics are poorer givers than are our Protestant counterparts. This is something I am well aware of, as I was guilty of the same thing as a lay parishioner at Precious Blood in Monmouth Beach. I did eventually understand the need for stewardship and adjusted accordingly. Each of us is called to do what we can, but to seriously consider what it is that we can do in this regard.
Fran DeMuria, our business administrator, has prepared a basic statement which is easy to read and understand. You will note that the school ran a slight deficit last year which was due in large part to the need to strengthen our technology presence, upgrade many systems, and adjust how technology was being handled. Those corrections and upgrades cost a significant sum of money, but it was a one year expense, so that the maintenance and improvement costs in the current year are significantly less.
You will also note, perhaps, that weekly contributions to the church have dipped slightly. This is due in large part to two factors. The first factor is that it is not unusual when a new pastor arrives for there to be such a dip. To analyze the psychology of that is another story. Fortunately, we did not get hit as hard as many parishes do. That tends to reverse itself over time. The second factor is the demographic shift in the parish. As the older and more established parishioners move away to be replaced by younger families, there is a decrease in giving. Younger families with mortgages and children give less than retired people do. The good news is that our parish continues to register new families and that many of these families are indeed active in the parish. Their contributions will grow over time. I am also asking you to consider the Faith to Move Mountains program of the diocese. If you have yet to make a pledge or contribution, I ask that you consider doing so soon. The Annual Catholic Appeal will be coming our way later in the year as well.
I wish to thank the members of the Finance Council of the parish for their dedicated work and commitment to making sure that everything is above board and well-managed. Lillian Lent is the chair of the council. Other members are Ken Grogan, John Caroselli, Steve Cook, Tim Sullivan, Austin Lindsay, Christine Gunia, and John Kurowski. We are also indebted to David Muldowney who serves as our external accountant. Fran Demuria has done an excellent job in taking over as business administrator. I would be remiss not to also pay respects to the memory of Tony Malone who served as business manager for over ten years. We miss his laughter and presence in our office and in our lives. I wish to thank all of you for your generosity, faithfulness and life-giving presence to our parish.
May the Lord continue to bless you with His peace,
Father Garry