2019 - 2020 Financial Report

Report to Parish – Fiscal Year 2019-2020

Review Financial Data Here

 

Financial:

 

  1. The Coronovirus Pandemic had a significant impact on the parish finances. Scrip sales were suspended for several months and our Seafood event was canceled after only three weeks.  Lost revenue from fundraising was estimated to be approximately $15,000.

 

  1. St. Rose of Lima was able to obtain a PPP CARES Act grant in the amount of $157,423 and was considered non-operating income.  These funds were used to offset salaries and benefits of St. Rose of Lima Staff.   

 

  1. The operating budget for the fiscal year 2019-2020 ended with a deficit of $80,925.  Ordinary income was $38,795 under the budgeted amount.  Personnel expenses were $61,000 over the budgeted amount.  This shortfall was covered by our cash on hand and the Payroll Protection Plan grant. 

 

  1. The average monthly e-giving contribution was $14,343.  The online monthly donations this fiscal year were $6,807 higher than the previous fiscal year.   

 

  1. The average weekly offertory (including Holy Day collections) was $15,167.  The Christmas collection was $30,053 and the Easter collection was $14,618

 

  1. Profits from scrip sales played a significant part in the financial success of the Parish in the 2019-2020 fiscal year.  The profit from this fiscal year was $17,208.    

 

  1. The 2019 Annual Appeal assessment was $109,958.  As on June 5, 2020, parishioners pledged $92,907 and had paid $82,333.

 

  1. The Parish debt total from existing loans from the Diocese was $129,954 at the beginning of the fiscal year and $103,051 at the end of that year.  The reduction in debt was due to the generous support of the parishioners each month.

 

  1. Church Funds allocated to the following obligations:
    1. York Catholic High School - $121,341
    2. St. Rose of Lima School - $318,683
    3. St. Rose of Lima Religious Ed. – $54,474
    4. York Hospital Chaplain – $13,694

 

  1. Total funds in savings accounts and cash on-hand are $1,439,108. Of this total, $900,045 is being held in the Building & Capital Improvement funds account and their use is restricted

 

Projects:

Several maintenance projects were begun in the 2019-2020 fiscal year with an estimated cost of $376,115.  These projects were funded, in part from, fundraising income, restricted building improvements fund, and a bequest from the Dorothy Gladfelter estate.  Due to your participation we have completed the following projects:

    1. Re-surfaced the school parking lot
    2. Replaced the school roof
    3. Resurfaced the school basketball court (St. Rose of Lima Athletic Association)
    4. Replaced the lighting in the church
    5. Replaced the emergency lighting at the school
    6. Replaced the fire alarm system at the school
    7. Repaired water leak in the Parish Center

 

Parish Statistics:                      

  1. Active families registered = 668
  2. Average number of envelopes used each week = 299
  3. Number of registered children = 290