St. Maria Goretti Parish - Financial Council Reports

Church Revenue – revenue exceeded budget by $40,956 or 3.3%, while comparing to the prior year there has been an increase in revenue of $91,932 or 7.3%. This is due primarily to an increase of the regular collections of $111,760 or 14.2%, with an offsetting reduction in the annual census collection of $20,811 or 37.8% collected thus far.

School Revenue – revenue generated thus far was $19,376 less than plan by 4.5%. In a comparison of the current year to the prior year we see an overall improvement in school revenue of $73,854 or 17.6 % ahead of last year. This increase is attributable to donations to the school of $24,000 better than the prior year, outstanding fund raising activities by the Home & School organization and an increase in tuition payments of $42,000 over the prior year.

Church Operating Expense – actual expenses have exceeded budget by $23,165 on a year to date basis or 2.4%. Lower utility expenses offset higher administrative expenses, due to a mild winter heating season and favorable spending in outside printing and publication services. Loan repayment has exceeded budget by $24,097, which is related to mortgage principal and interest costs, which were in arrears.

School Operating Expense – as pointed out in our last report, even though we spent $40,000 for a new roof at Drexel Hall, expenses are less than planned on a year to date basis at $23,165 or 2.4%. Savings were realized from printing, publication costs, office supplies and equipment.

Parish – Church & School – the net operating cost on a year to date basis are a loss of $23,405 compared to a budgeted loss of $42,595 or a favorable deviation of $19,190.

Parish Debt – as of this report the parish debt was paid down $272,926 since last July 1^st and the balance now stands at $696,233. We have been able to pay down the debt much faster because of your generosity with regular collection and mortgage/debt reduction collections.

Submitted 5/13/2008

			Please click <Here> for Financial Activity Detail Report as of April 30, 2008