A couple weeks ago we had another finance council meeting. Here are the highlights:
- We reviewed the usual finance reports: the balance sheet, the income and expense report, the accounts payable report.
- We decided finance council members will perform an internal audit every two months, using diocesan procedure.
- Work to repair the elevator was completed last week. Among other things, they had to rebuild the hydraulic pistons, with new packing; and they had to realign the rails. Total cost should be just under $15,000. This amount was covered by special private donations. For years, the elevator has had some very bad vibrations, especially in cold weather. We are very hopeful that this overhaul will fix the problem.
- The permanent live streaming software was finally downloaded; and Anthony Gallina got instruction on the new software and equipment. By the time you are reading this, we should be using the new system to livestream our Masses and other events.
- We are working with the company with our timeshare in order to get rid of that timeshare. It seems to be a pretty complicated process.
- Repair of the mausoleum roof started two weeks ago. It is nearly finished as you are reading this. Total cost will be $41,500. As of the writing of this letter, the project seems to be going very well. All the money for this project was donated.
- The diocese will be moving forward with a capital campaign, and every parish will participate. Of the total each parish is asked to raise, 30% will come back to the parish. We have begun discussion about building our trust endowment account with the money that comes back to us. The trust endowment could more casually be called our "nest egg" for future parish expenses. There are no more concrete details to share regarding the capital campaign. We will definitely be communicating details when we are able.
- We are asking Findlay Plumbing and Heating to give us a quote on repairing the church a/c, which is running on half power. This will involve designing new coils. Nothing has been done on this project yet; however, we have $28,000 in special donations towards it.
- We got a quote from one company to upgrade the lighting in the church. Materials alone would be about $42,000. Money for this project was collected some years ago. We remembered that desire to fix the church lights was in part due to the lights flickering; but this flickering was repaired much more inexpensively by replacing some equipment. Now the question was posed: Should we actually go through with the upgrading of all the lights, probably spending around $80,000 total, when it seems the lights are actually working pretty well? The flickering has been repaired already. Yes, we have the money, but still, is the benefit worth the cost, given that everything now seems to be working pretty well? The lighting seems to be ok. Also, if we wait a bit more, might technology improve, such that there will be a much easier way to upgrade the lighting? Right now, all of the lighting canisters in the ceiling would have to be replaced for the upgrade. Might there be technology improvement that would make this replacement unnecessary in a few years? We're going to study this question more, before making a decision.
- The diocesan/parish fiscal year ended with June, so we reviewed the parish's annual financial report; and we signed it, so that it could be turned into the Diocese. A condensed version of this report is available on pages 5-6 of this bulletin. This will fulfill the Canon Law requirement for a financial disclosure to the parish once each year.
- We are putting windows into all of the classrooms on the third floor of the Parish Center.
- As of the writing of this letter we are at 86.4% ($41,063) of our goal ($47,528) for the Bishop's Annual Catholic Appeal. 260 separate donations make up the current amount. That number of people participating is very inspiring. Thank you so much to everybody who has given so far! If you have not given yet, and you are able, please consider a gift. Every little bit counts. I would love to see our parish make the ACA goal. Thanks again for the many, many ways so many people live with generous spirit at our parish – time, talent and treasure!So, there are the highlights of our last finance meeting.
Have a blessed week!
In cordibus Iesu, Mariae et Iosephus,