St. Camillus FY24 Financial Report
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St. CamillusFY24 Financial ReportDear Parishioners:
The accompanying statement represents the financial condition of Saint Camillus Parish for the year ending June 30, 2024. It also highlights our financial budget for the 2025 fiscal year. This annual report is presented on behalf of 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.
St. Camillus Parish ended the 2024 fiscal year with net operating income of $115,241. Your support of the Increased Offertory Campaign has helped us grow our weekly offertory collection, stabilize our income, and propose an aggressive budget for the current fiscal year. Our online giving portal provides an easy, safe and convenient way to make your offertory contributions. Operating expenses were managed within budget. As of June 30, 2024, reserves (including cash, investments, and money due to us) remained relatively stable at $826,833.
The parish completed several additional capital improvement projects costing $129,625. Repairs were made to the Church roof and bell tower. Other major expenses provided improved seating in our gathering spaces, security improvements and HVAC maintenance and other repairs. A project under consideration for this fiscal year involves the remodeling of the Church sanctuary.
The Grand Annual collection takes place on the weekend of October 26-27, 2024. In addition to supporting our major projects, this collection still remains an important source of operating income for our parish. Once again, we are requesting that each working person donate $350 to the first part of the Grand Annual Collection. We hope that those who are able, will respond by being even more generous.
Your generous response to the Offertory Campaign has enabled us to launch several new programs to meet the growing needs of our parish family. Our dedicated clergy, staff and volunteers continue to explore opportunities to help us become missionary disciples sent to transform the world through prayer, study, generosity and evangelization. We look forward to another fruitful year at our parish campus.
Respectfully in Christ, Fr. Marc Bishop and the Finance Council -
Actual Actual Budget Fiscal Year 2024 Fiscal Year 2023 Fiscal Year 2025 REVENUES Offertory $267,560 $191,026 $268,800 Grand Annual 68,487 63,785 70,000 Religious Education 3,108 2,286 3,500 Sacramental Offerings 28,289 18,565 22,000 Gifts and Bequests 100,721 17,440 20,000 Catholic Appeal Rebate 24,623 22,946 25,000 Flowers and Other Income 5,403 6,972 5,000 Other Income 938 80,741 1,000 Interest Income 4,309 2,999 3,700 Rental Income 176,386 172,270 171,000 Total Revenue 679,824 579,030 590,000 EXPENSES Compensation and Benefits 226,650 212,467 235,000 Clergy Compensation and Benefits 68,632 54,463 71,100 Office and Administrative 8,131 14,758 8,500 Household 8,630 8,218 9,000 Utilities 78,608 76,650 82,700 Insurance 57,285 50,935 60,000 Buildings and Grounds 59,799 51,726 61,000 Pastoral and Liturgical 13,529 18,696 15,500 Central Ministry Tithe 42,059 30,354 42,500 Miscellaneous 1,260 3,159 1,700 Total Expenses 564,583 521,426 587,000 Net Operating Income / Loss 115,241 57,604 3,000 Less - Capital Improvements 129,625 100,349 Net Income / Loss -$14,384 -$42,745 Other Financial Information: Cash and Investments $826,833 $825,480 Current Liabilities $32,400 $16,663 Note - During Fiscal Year 2024, the Parish completed additional capital improvement projects of $129,625: a. Roof repairs for $40,000,
b. Bell Tower repairs for $29,050,
c. Security improvements $39,097d. Additional seating for $14,739, and e. HVAC maintenance and other repairs for $6,739