The First Quarter 2018/19 shows a slight decrease in income compared to the budget (4%), but the income is up slightly from last year. Parish tithings and fundraising were both below the projected budget.
On the Expense side, total operating expenses are down by 10% when compared to the budget, and also down from last year. The largest expense increase came from Diocesan Assessments which 8% over budget, and 26% over last years assessment expense.
While the First Quarter operating numbers show a slight loss, the loss is less than the budgeted amount, and less than last years first quarter.
Other income in the first quarter reflects 2 bequeaths that were not budgeted – one for St. Mary’s Church and one for St. Charles.
Other expense was slightly under budget as the new church expenses were lower than expected, but these are expected to increase as we begin construction of the new St. Charles Church.
We also had 2 other items in the first quarter: One was at St. Mary’s ( plumbing repair) and the other was at Holy Family ( painting the church interior, and maintenance of the pews).
If you have any questions, please contact the Finance Council.
Respectfully Submitted by John Rast, Finance Council