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A Closer Look: Parish Finances 2019

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We invite you to take a look back on the financial performance of our parish for the past year which ended June 30, 2019. When preparing the budget for the 2018-19 year, we anticipated that it would be a financially challenging one. We were cancelling our largest annual fundraiser, the Heart to Heart Fund, which is a substantial portion of our ordinary income. We are undertaking a $3 million capital campaign. As the year progressed, bequests, which come from estates, were down leading to less income. These vary from year to year. Overall, when we look back, we still have good news to share. We are very blessed. Due to the continued generosity of our families, our parish is strong. Sacred Heart Parishioners have donated approximately $2.3 million for Sacred Heart and Seton School. The large amount of monies we have collected in our Today Tomorrow Together campaign took our fundraising dollars way up. We are mindful of the challenges presented by declining income and rising costs. With your continued financial support we are confident we will meet our goals for the upcoming year.

Highlights and items of note regarding our budget are:

  • As a Finance Committee we work to maintain a balanced budget, spending only the monies we have.
  • Parish income fell short of expenses. We ended the year with a $45,071 loss.
  • Total revenues were down $290,331 from last year, and $63,606 below budget not including TTT Capital Campaign.
  • Sunday collections decreased $27,189.
  • We received $67,000 in bequests through the generosity of our faithful parishioners. Last year we received $210,000 in similar bequests. Again, we cannot rely on these gifts every year.
  • Educating the youth of our parish is vital to our future. We share the costs of these programs by funding administrative expenses for Religious Ed. Families contributed $5,855 toward the cost of supplies.
  • Through participation in John Deere Birdies for Charity we received $14,386.
  • Parish expenses increased $24,254 which was an approximately 2% increase across the board. Our staff works hard at being efficient and underspends in some key areas to help us operate below budgeted costs.
  • We are dedicated to ensuring that Seton and Alleman remain healthy and continue to provide a quality education enriched by the teachings of our faith. We spent $470,598 to support Catholic schools.
  • Our Annual Diocesan Appeal goal for 2018-2019 was $147,521. The shortfall of $30,574 was paid as a part of parish expenses.
  • Facilities expenses, excluding capital improvements, were the same as last year and slightly under budget.
  • The valuable work of our many volunteer committees save our parish thousands of dollars in repair and maintenance expenses. You are greatly appreciated.
  • We suspended the annual Heart to Heart Fund for special projects for the year. Last year that provided over $95,000.
  • We launched the Today Tomorrow Together Capital Campaign to address the needs of our parish and school. So far the parish has collected $785,266. We spent $298,974 toward capital improvements. We will continue to maintain and improve our campus as additional funds are collected.
  • We are debt free.
  • We have a cash reserve of nearly $600,000 when TTT campaign contributions are excluded.
  • Our parish endowment fund remains over $920,000.

We appreciate the leadership, dedication, and commitment of Fr. Mark. We are also thankful for the opportunity to serve the parishioners of Sacred Heart. It is your contributions of time, talent and treasure that make this a strong parish. Please continue to pray for God’s blessings on our efforts.

Sacred Heart Finance Committee:

Aaron Graf - Chair
Bill Cornelis
Dan David
John De Cock
Connie Morris
Bill Rector
Jim Watson
Carolyn Wilson
Linda Wolbers