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For the most current stewardship information, see page 2 of the weekly bulletin
December 02, 2011
Dear Parishioners and Friends of Our Holy Spirit Community,
Our Holy Spirit Church Finance Committee and I wish to share information with you on the financial standing of our Holy Spirit Church and School. We are providing you with a copy of our financial report for both our Church and School for the fiscal year ending June 30, 2011. Desiring to provide a high level of transparency and openness on our practices, our parish has contracted with Wojeski and Company, a local public accounting firm, to compile the report that you will find presented on the other side of this letter.
Church results… Holy Spirit Church ended the 2010/11 fiscal year with a surplus of $2,688 compared with a surplus of $46,129 in 2009/10. Offertory support declined by $7,500. Donations and bequests decreased by $6,700. The Parish Finance Committee and I sincerely thank you for your loyal, generous stewardship during the recession.
Background… To serve needs surfaced by parishioners, we added a parish associate and expanded our sacramental preparation ministries. Our compensation and benefits expenses increased by $34,000; however, we deepened our parish staff’s skills and experience and improved our service to the parish. Our balance sheet shows a sufficient reserve to meet current liabilities; however, our operating income/expense margin is very thin. We will continue to monitor our expenses closely.
School results… Holy Spirit School ended the 2010/11 fiscal year with a $20,249 surplus compared with a $9,118 deficit in 2009/10. In this recession year, our school’s enrollment declined to 230 while staff benefit expenses increased. Grants and New York State mandated services income declined last year. Tuition income increased by $16,000 as parents stayed current in a difficult year; early childhood income exceeded our budget.
Background… I thank Anne Cowling, our principal, and our School Finance Committee for maintaining fiscal stability in a year when many Catholic schools reported large deficits. I thank our parishioners and school families for continuing to place their faith and trust in our excellent school. Holy Spirit School is celebrating its 50th anniversary this year. Perhaps you’ve read about some of the events to mark the anniversary. You are invited to join in the celebrations! So many parishioners have made sacrifices over the years to ensure the current success of Holy Spirit School.
Stewardship… Many of you have shared your concern with me over the continued decline in our weekly offertory. The recession has been difficult. The Parish Finance Committee, parish staff and I continue to review our expenses and keep to our budget, just as you’re doing in your households. Holy Spirit has expanded current programs and created new ones to meet your spiritual and pastoral needs: LIFT, Youth Ministry, Renaissance Ministry for seniors, Caregivers, pastoral counseling services, Catholic Moms Ministry, youth choirs, and evangelization, all in addition to our outstanding Faith Formation and School programs. Holy Spirit has provided many programs for you and your families. Many of you are taking an active role in the life of the parish. Your increased participation and this new programming are signs of an active, vital parish community.
I ask for your help… With this wide variety of programs, our expenses have increased. The recession shouldn’t compromise your spiritual and pastoral needs. If your means permit, would you please reconsider your offertory gift? Your stewardship makes all these ministries and services possible at Holy Spirit. Even a few dollars more a week makes a difference.
Holy Spirit is a spiritual community, not a business. It’s about our total parish community, our needs and our future, even in difficult times. It’s about you, your families and your neighbors. We have many reasons to give thanks and we believe in the good we do for you and for the many. Your stewardship permits us to respond to your spiritual and pastoral needs and the needs of the larger community.
Rev. Joseph O'Brien
Report to the Parish