Finance Committee Annual Report on Parish Finances Fiscal Year Ending June 2009

Slide 2 Purpose Thank all who support St. Lawrence through meaningful gifts of time, talent and treasure… Provide information about the parish’s financial position for 2009 and 2010 operating budget… What we have, what we owe, what we get and what we spend…

Slide Actual & 2010 Budgeted Revenue INCOME FY09 Actuals FY10 Budget% + or - Collections* $ 528,118 $ 534,6001% Stipends ** $ 19,056 $ 22,10016% Parish Programs ** $ 37,166 $ 21,600-42% Parish Fundraising ** $ 9,848 $ 6,500-34% Gifts ** $ 29,626 $ 18,800-37% Other Income ** $ 74,808 $ 66,323-11% Summer Camp ***$ 83,445 $ 88,5006% Total Income $ 782,066 $ 758,423-3% Analysis: 2009  * Parish collections decreased from $534K in 07/08 to $528K in 08/09.  ** Stipends, program fees, fundraising, gifts and other income (mostly facilities rental) will bring in another $135K  *** Parish operations supported by Summer Camp program. Without Summer Camp revenue parish would run at a loss. Summer camp revenue for current year is down to $52K which is $36K below budget.  The Parish received an additional $51,401 in rebates from the Diocesan Rooted in Faith campaign which were used to pay down the Church renovation loan principal.

Slide Actual & 2010 Budgeted Expenses EXPENDITURE FY09 Actuals FY10 Budget% + or - Salaries & Benefits $ 292,032 $ 337,85916% Admin Costs $ 76,345 $ 81,4107% Facility Costs $ 72,421 $ 80,60011% Parish Programs $ 121,092 $ 103,760-14% Diocesan Assessment $ 48,444 $ 53,36410% Insurance $ 36,436 $ 39,4208% Debt Service $ 104,510 0% Total Expenses $ 751,280 $ 800,9237% Analysis: 2009  Average operating costs were higher than current average weekly collections.  Operational income does not support full $104,510 debt service even with Summer Camp revenue. Debt service on Church worship space is being funded by expected rebates from the Diocesan Rooted in faith campaign.  Current level of staffing does not fully support community and additional pastoral staff would allow parish to better fulfill its mission. (Two full time clergy in 09/10 vs 1.5 in 08/09)

Slide 5 Current Weekly Shortfall… Stipend, Fees, Gifts, Fundraising, Other Income: $2,602 Weekly Average Collection (including Holy days) $10,281 Weekly Average Running Cost $15,402 Includes debt Service and ALL expenses

Slide 6 Equivalent Paid Time (minutes of your salary) Given back to God per week at Sunday Mass Minutes of your salary given weekly ??? 60 minutes Tradition of Giving – An Hour’s Salary per Week …

Slide 7 Tradition of Giving – An Hour’s Salary per Week … Parish Cornerstone Tradition of Giving: Weekly Individual Commitment to God and our Parish Home at ONE Hour of Your Salary per Week AnnualMonthlyWeeklyHourlyAnnualMonthlyWeeklyHourly 16, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Slide 8 Full staffing Endowment Level of service enhancement with a focus on Community Building Debt-service elimination Operational reserves Emergency reserves Enhanced programs Sustainable Budget - No Fundraising!! Tradition of Giving – An Hour’s Salary per Week …