At St. Patrick's, the Parish Finance Committee consists of parishioners appointed by the pastor/administrator who are qualified in financial matters. The Finance Committee meets regularly in the parish office.
The council meets to discuss the financial state of the parish.
"The 1983 Code of Canon Law has introduced a new and separate consultative body to parish life. "Each parish is to have a FINANCE COUNCIL which is regulated by universal law as well as by norms issued by the diocesan bishop" (3c).
"The purpose of the parish FINANCE COUNCIL is to provide the pastor with a group of Christian faithful who will aid him in the administration of parish goods according to these norms. While distinct from the PASTORAL COUNCIL of the parish, this FINANCE COUNCIL is to serve the goals and objectives set forth by the PASTORAL COUNCIL, both being guided by the mission statement of the parish."
On behalf of our Parish Leadership Team, I am happy to present to you the annual report for the 2021-2022 fiscal year. The Parish Leadership Team, led by the Pastor, consists of two lay Parish Corporators, the Finance Committee, and Chair of the Pastoral Council. In studying the pie charts for the past fiscal year, you will see that despite the negative impact the pandemic had on our offertory program, and the many repair and maintenance needs of the facilities, we ended the past fiscal year in a Financially favorable position. This is a testament to the generosity of all of you in supporting the parish as well as our strategic and conservative spendings. We engaged parishioners who volunteered hundreds of hours, both in caring for the inside of the buildings as well as the campus grounds. During the past fiscal year, the parish also operated for the most part without a maintenance position. Had that position been filled, the parish would not have been able to end in the black. The message is - we depend on volunteers.
I also want to let you know that this past March the Archdiocese of Baltimore initiated an independent financial audit of the parish. Our last audit was four years ago and the Archdiocese, works on a four-year rotation. We received a wonderful audit opinion from the independent auditors. Of course, audits always find some areas for improvement, but none of the recommendations were of a serious nature.
I am happy to report that our offertory for this fiscal year, which began on July 1, 2021, is up $28,214 higher than the prior fiscal year. The increase was primarily in our Loose Offertory as more people started returning to Mass after the Covid-19 restrictions were lifted. The Offertory Envelopes were down $60,459 but the Online Giving/Offertory EFT donations were up $62,472 as more people are now utilizing Give Central our online giving platform. If you are not already using Give Central, we encourage you to sign up with the St. Patrick Give Central by using this links below or on our website: https://www.stpatrickhdg.com/about-5-7 https://www.givecentral.org/location/1240.
Our other income (K-1&3) increased $204,780 from last year due to $51,731 from an SBA-PPP Grant, and other grants received specifically for evangelization programs, the Convent Renovation and Stained-Glass Windows restoration.
Our planned operation and facilities improvement expenses were higher this past fiscal year due to the Convent Renovation, Stained Glass Windows restoration & technology improvements on our sound and livestream technology. These major items increased our expenses to $146,740.
Overall, our Net Income is down $24,659. If you factor in the Cathedraticum Tax overpayment, we basically broke even.
Our weekly bulletin, flock notes, and website all reflect a parish that is fully alive, not only in offering so many ministries to our parishioners, but also in helping those in need, both locally and internationally.
If you have any questions, please reach out to me or to Mr. John Hamilton our finance chair or to Kathy Meneghini our bookkeeper. I look forward to a vibrant new fiscal year.
I would to conclude by thanking so much the finance committee members and our book keeper for working on producing this report, for their great vision and stewardship of our parish.
Thanks again for your generosity.