Read this week's message from Father Don
Dear parishioners,
Do you want to know how the parish spends your money? Check out the simplified Parish Year-End financial statement below.
Here are some of the highlights:
Income:
The Sunday collections and the total income were both up from 2020. Excluding the various “in and out” items, the 2021 parish income was just over $970,000.
Expense:
The expenses were also up considerably from 2020. Salaries were $54,000 higher due to the hiring of Dan, Lorraine, Janet and Nando (the Sunday secretary and rental coordinator). Also up were various expenses grouped together in the Miscellaneous category, including insurance, BC Catholic, PREP, Adult Education and janitorial. The additional $20,000 in repairs was spent on repairing water damage after a flood in the basement of the Parish Centre. The largest expense items in 2021 were salaries and the loan repayment.
Net Revenue:
Due to the increased expenses, the net revenue went down $73,000 in 2021.
Mortgage:
THE REAL GOOD NEWS is that the mortgage on the new Parish Centre has almost been paid off, with only $60,000 remaining. After April, this will put $15,000/month back into the parish coffers.
Our ongoing progress with parish renewal will require more money so please continue to be generous in your financial support of the parish.
Best wishes
Father Don
Financial report
Income | 2020 | 2021 |
Collections | $ 480,000.00 | $ 510,000.00 |
Project Advance | $ 93,000.00 | $ 92,000.00 |
Rentals | $ 135,000.00 | $ 150,000.00 |
Out of School Care | $ 50,000.00 | $ 95,500.00 |
Miscellaneous | $ 197,000.00 | $ 123,500.00 |
| | |
Total: | $ 955,000.00 | $ 971,000.00 |
Expense | 2020 | 2021 |
Altar Supplies | $ 15,000.00 | $ 19,000.00 |
Diocesan Tax | $ 74,000.00 | $ 70,000.00 |
Rectory Expenses | $ 7,000.00 | $ 7,000.00 |
Office | $ 14,000.00 | $ 6,000.00 |
Repairs/Maintenance | $ 20,000.00 | $ 42,000.00 |
Renovations | $ 20,000.00 | $ - |
Salary | $ 205,000.00 | $ 269,000.00 |
School Subsidies | $ 47,000.00 | $ 42,000.00 |
Utilities | $ 48,000.00 | $ 42,000.00 |
Taxes/Equipment | $ 12,000.00 | $ 22,000.00 |
Loan Repayment | $ 190,000.00 | $ 184,000.00 |
Out of School Care | $ 62,500.00 | $ 74,500.00 |
Miscellaneous | $ 58,000.00 | $ 84,000.00 |
| | |
Total: | $ 772,500.00 | $ 861,500.00 |
| | |
Net: | $ 182,500.00 | $ 109,500.00 |
| | |
Outstanding Mortgage: | $ 240,000.00 | $ 60,000.00 |