Spirited Times - February 2008

2008 budget, other financial facts: Using your funds wisely

Church of the Holy Spirit (CHS) Annual Report, in the November 2007 edition of Spirited Times, is online at www.churchoftheholyspirit.org. Key numbers follow from that report and since.

$16,256 is the amount in weekly donations needed to support the FY2008 operating budget.  We were running an average of $1,400 behind budget for the first six months of FY2008, which ends June 30.  However, an $18,700 total weekly donation on one late December weekend was the most generous in a long time.

$62,295.68 Emergency Appeal funds were collected as of Jan. 15. Repairs for roof and plumbing totaled $40,375; $21,920.68 remains in the capital fund balance for other emergencies or repairs. Thanks so much for your generosity. Donors who gave their names were sent notes of thanks.

10 x 100 Campaign finishes at end of June. Peoples’ efforts and generosity are appreciated. At this point, fundraising seems likely to fall short of the $1 million goal. Still, we will celebrate and give thanks for the generosity expressed by so many.

$11,500 is the approximate monthly loan payment as of January; about $4,300 of that is interest.

$100,000 less in salaries and related benefits were incurred in the first six months of FY2008 due to some difficult staffing decisions made last year.  This has helped to keep us in balance despite decreased income.

$24,000 annual lease check to the parish will follow T-Mobile’s groundbreaking for a taller cross tower with a mobile phone antennae concealed inside.  $2,000 in earnest money was received in January.

Air conditioning in the Kane Center living quarters broke two years ago. A/C should be replaced before the new pastor’s 2009 arrival. Within five years, worship space A/C also will need replacing.

Nine volunteer parishioners serve on the parish Finance Committee.

The Archdiocese asks an independent firm to conduct a special parish audit sometime within the two years before a pastor leaves an assignment.  Our recent audit of parish procedures and the FY2006 Annual Report led to 35 recommendations (about average for these audits).  Some of these had already been implemented since July 1, 2007.  Others will be implemented within the next year.

Compiled from Parish Town Hall meeting notes of Nov. 17, 2007 and Jan. 19, 2008.