Holy Family School Financial Report

Holy Family School Annual Financial Report – July 1, 2021 – June 30, 2022

Notes: Ministry Programs represents the Stay and Play and Cafeteria Programs.  Stay and Play is $7,000 higher than last year which is offset by     $6,000 lower Cafeteria program income. School Tuition was $390,800 for the year for 104 students.  The proposed budget for 2022-2023 reflects 99 students. Fundraising income was $61,000 for the year which is primarily the Annual Appeal.  Other fundraising efforts include candy sale, gift wrap sale   and race for education. Grants and Subsidies represents both the parish subsidy ($200,000) and aide from the State ($56,095).  The budget for next year   includes a parish subsidy of $225,000. Operating Revenue is $835,783 which is $3,158 higher than Last Year and $27,633 UNFavorable to Budget. Salaries & Benefits are $150,698 higher than prior years as last year.  This is due to the movement of staff from RBA temporary agency, which   is reflected in Purchase of Services.  The net impact for all Salary Expense (including temporary agency) is an increase of $35,992 from    prior year. Insurance -increased $24,000 as a result of appropriately charging the school for the insurance on the School Building.  In prior years, the Parish   paid the insurance on all buildings. Ministry Program Expenses represent the milk and cafeteria program.   Supplies Expense are $950 higher than last year. Building Maintenance – Includes expenses for Utilities and Repairs and Maintenance for buildings.  These expenses are $1,400 higher than last    year primarily for natural gas, maintenance supplies and equipment repairs. Purchase of Services – includes temporary agency charges for Part Time Employees.  (See Salary & Benefits above) Other Operating Expenses – includes financial aide offered to students.  The Financial Aide awards were $44,000 lower than last year.  Last year’s   financial aide was higher than normal due to the effects of COVID. Operating Expenses are $921,840 which is $29,895 higher than last year and $8,805 favorable to Budget. Net Operating Revenue in Negative $86,057 (representing a Net Operating Loss).  Last year the Net Operating Loss was $59,21.