The Parish of the Most Holy Name of Jesus Annual Financial Report – July 1, 2021 – June 30, 2022
Notes: Regular Collections – are down $43,000 or 3.4% from last year and down $148,000 or 10.7% from 2 years ago. Auxiliary Receipts include income from flowers, candles and memorials. The increase from last year is primarily in candle donations. Gifts and Donations are $126,000 lower than last year as last year included a $103,000 Bequest. Fundraising Income is $5,500 higher than last year as the parish held various bake sales, spaghetti and pork dinners. Rental Income – represents income received from apartments owned by the parishes. Operating Revenue is $1,304,426 which is $164,586 lower than Last Year and $37,811 Favorable to Budget. Salaries & Benefits are $78,000 lower than last year primarily due to the restructuring of the Finance Office. In addition, there was a reimbursement of unemployment charges from the state to cover unemployment charges incurred during COVID. Insurance – decreased 15,000 from the prior year due to sale of parish properties. Ministry Program Expenses are lower due to reduction in activity levels. Rectory Expenses – include food and supplies for the Rectory and are down slightly from last year. Building Maintenance – Includes expenses for Utilities and Repairs and Maintenance for buildings. These expenses are $24,000 lower than last year primarily due to lower expenses for snow removal. Purchase of Services – includes temporary agency charges for Part Time Employees, audit expense as well as property assessment charges. These expenses are $45,0000 lower than last year due to large expenditures for engineering study done last year. Other Operating Expenses – include mileage, Courier Journal, Candles, Sacristy Supplies. Operating Expenses are $1,519,517 which is $125,000 lower than last year and $42,902 UNfavorable variance to Budget. Net Operating Revenue in Negative $135,090 (representing a Net Operating Loss). Last year the Net Operating Loss was $95,507.
The Parish of the Most Holy Name of Jesus Annual Financial Report – July 1, 2021 – June 30, 2022
2019-2020 2020-2021 2021-2022 2021-2022 2021-2022 2022-2023
Actual Actual Actual Budget Budget Variance Budget
Operating Revenue
Regular Collections $ 1,378,667 $ 1,273,593 $ 1,230,270 $ 1,205,000 $ 25,270 $ 1,204,000
Auxiliary Receipts $ 15,799 $ 13,031 $ 14,531 $ 12,700 $ 1,831 $ 13,800
Ministry Programs $ 61,845 $ 55,605 $ 54,703 $ 62,200 $ (7,497) $ 46,000
Gifts and Donations $ 65,326 $ 185,356 $ 59,177 $ 47,200 $ 11,977 $ 36,500
Fundraising $ 40,341 $ 558 $ 5,901 $ 5,000 $ 901 $ 5,000
Interest and Dividend Income $ 526 $ 725 $ 675 $ 640 $ 35 $ 677
Rental Income $ 28,600 $ 16,350 $ 15,000 $ 13,775 $ 1,225 $ 14,000
Social Events $ 12,505 $ – $ – $ – $ – $ –
Other Operating Revenue $ 10,121 $ 3,794 $ 4,169 $ 100 $ 4,069 $ 100
Total Operating Revenue $ 1,613,730 $ 1,549,012 $ 1,384,426 $ 1,346,615 $ 37,811 $ 1,320,077
Operating Expense
Salaries and Benefits $ 784,942 $ 836,539 $ 758,148 $ 799,346 $ 41,198 $ 789,353
Professional Development $ 2,286 $ 1,904 $ 2,044 $ 2,143 $ 99 $ 1,656
Insurance & Taxes $ 181,970 $ 182,988 $ 167,646 $ 159,623 $ (8,023) $ 158,775
Ministries and Programs $ 36,511 $ 16,728 $ 13,229 $ 20,900 $ 7,671 $ 12,000
Social Events $ 12,679 $ – $ – $ 1,500 $ 1,500 $ 750
Fees and Interest Expense $ 6,857 $ 7,422 $ 8,985 $ 7,925 $ (1,060) $ 8,635
Supplies Expenses $ 71,191 $ 57,307 $ 54,842 $ 48,118 $ (6,724) $ 52,558
Rectory and Other Expenses $ 14,000 $ 14,398 $ 12,815 $ 12,962 $ 147 $ 13,040
Building Maintenance $ 150,208 $ 197,051 $ 172,472 $ 145,155 $ (27,317) $ 156,988
Purchase of Services $ 102,553 $ 78,914 $ 34,098 $ 15,073 $ (19,025) $ 35,982
School Assessment $ 126,000 $ 144,000 $ 200,000 $ 180,000 $ (20,000) $ 225,000
Fundraising $ 17,457 $ 558 $ 402 $ – $ (402) $ –
Other Operating Expenses $ 107,371 $ 103,615 $ 89,571 $ 83,870 $ (5,701) $ 86,340
Donations and Gifts to Others $ 4,376 $ 3,095 $ 5,265 $ – $ (5,265) $ 2,500
Total Operating Expense $ 1,618,401 $ 1,644,519 $ 1,519,517 $ 1,476,615 $ (42,902) $ 1,543,577
Net Operating Revenue $ (4,671) $ (95,507) $ (135,091) $ (130,000) $ (5,091) $ (223,500)
Non-Operating Revenue
Investment Market Change $ 65,900 $ 778,640 $ (400,535) $ – $ (400,535) $ –
Affiliated Organizations $ 5,637 $ 187 $ 1,384 $ – $ 1,384 $ –
Other Non-Operating Revenue $ 379,530 $ 486,025 $ 459,012 $ – $ 459,012 $ –
Total Non-Operating Revenue $ 451,067 $ 1,264,852 $ 59,861 $ – $ 59,861 $ –
Non-Operating Expenses
Capital Purchases $ 157,700 $ 99,270 $ 43,160 $ – $ (43,160) $ –
Affiliated Organizations Expenses $ 5,729 $ 4,418 $ 6,834 $ – $ (6,834) $ –
Other Non-Operating Expenses $ 78,789 $ 41,306 $ 51,128 $ – $ (51,128) $ –
Total Non-Operating Expenses $ 242,218 $ 144,994 $ 101,122 $ – $ (101,122) $ –
Net Non-Operating Revenue $ 208,849 $ 1,119,858 $ (41,261) $ – $ (41,261) $ –
Net Revenue $ 204,178 $ 1,024,351 $ (176,352) $ (130,000) $ (46,352) $ (223,500)
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