St. Camillus FY23 Financial Report
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St. CamillusFY23 Financial Report
Dear Parishioners:
The accompanying statement represents the financial condition of Saint Camillus Parish for the year ending June 30, 2023. It also highlights our financial budget for the 2024 fiscal year. This annual report is presented by the Parish Finance Council which provides financial oversight and advice to our Pastor on money matters for the Parish. We hope that it will help you understand how your contributions and gifts to our Parish are used and accounted for and will encourage your continued generosity.
Saint Camillus Parish ended the 2023 fiscal year with an overall net loss of $42,745. This resulted from the significant decline in Rental Income. The community gas company work has been completed and the Town school bus parking needs are diminishing.
The Grand Annual Collections remain an important source of financial support to our Parish. While we rely on your continued generosity in the Offertory Collection to keep revenues in line with our current operating needs, the Grand Annual Collection was intended to provide both the funding for capital needs and a safety net to cover shortfalls. As reflected in our FY 2024 budget, we will focus our efforts this year on increasing our Grand Annual and Offertory Giving.
The parish completed several capital improvement projects costing $100,349. These included the Rectory Roof, Rectory Radiator and repair of the Bell Tower wall. A new Collaborative Facilities committee was established to create and administer a plan for maintaining and updating our aging facilities. Much needed security improvements were made. We were fortunate to secure a grant to cover most of the security improvement expenses.
During this challenging year, our dedicated collaborative staff and volunteers launched several new initiatives to meet the needs of our faith family. We are confident that Saint Camillus Parish is well positioned to continue its mission of proclaiming the Good News of Jesus Christ, and forming missionary disciples sent to transform the world through prayer, study, generosity, and evangelization.
Respectfully in Christ,
Fr. Marc Bishop, Anne Doherty, Edward Hurley, John Roma, Thomas Woodbury -
Actual Actual Budget Fiscal Year 2023 Fiscal Year 2022 Fiscal Year 2024 REVENUES Offertory $191,026 $182,000 $212,500 Grand Annual 63,785 46,142 65,000 Religious Education 2,286 1,940 3,000 Sacramental Offerings 18,565 21,645 19,000 Gifts and Bequests 17,440 3,797 5,500 Catholic Appeal Rebate 22,946 16,859 23,000 Flowers and Other Income 6,972 7,009 8,000 Other Income 80,741 0 0 Interest Income 2,999 3,063 3,000 Rental Income 172,270 273,667 181,000 Total Revenue 579,030 556,122 520,000 EXPENSES Compensation and Benefits 212,467 155,606 195,000 Clergy Compensation and Benefits 54,463 70,862 73,450 Office and Administrative 14,758 3,342 7,950 Household 8,218 7,219 9,000 Utilities 76,650 70,434 84,300 Insurance 50,935 46,546 54,500 Buildings and Grounds 51,726 60,784 51,000 Pastoral and Liturgical 18,696 10,135 11,900 Central Ministry Tithe 30,354 22,258 30,350 Miscellaneous 3,159 5,177 2,550 Total Expenses 521,426 452,363 520,000 Net Operating Income / Loss 57,604 103,759 0 Less - Capital Improvements 100,349 39,614 Net Income / Loss -$42,745 $64,145 Other Financial Information: Cash and Investments $818,547 $863,149 Current Liabilities $16,663 $11,587 Note - During Fiscal Year 2023, the Parish completed additional capital improvement projects of $100,349: a. Rectory roof for $54,325, b. Rectory radiator for $5,654, and c. Security improvements $40,370 Note - During Fiscal Year 2023 the Parish received a grant of $80,741 to improve security of which $40,370 was expended in Fiscal Year 2023 with the balance to be paid in Fiscal Year 2024. Finance Council Members Fr. Marc Bishop, Anne Doherty, Edward Hurley, John Roma, Thomas Woodbury