Parish financial report for the year ending June 30, 2016

The attached pages represent the financial activity for the fiscal year ending June 30, 2016 for St. Paul the Apostle Parish, All Saints Catholic School, and Mount Pleasant Cemetery. It is difficult to capture the vibrancy of the parish when it is simply reduced to numbers, so hopefully the following few paragraphs will help to more fully describe and explain some of the accomplishments of our mission during the year.

The first report of the financial statements represents the activities of all the six churches in the parish. With our income and expenses, we ended the year with a net gain of $21,043, however, the accounts in the Diocesan pool had a loss of $261,751, which is reflected with the net loss of $240,708 on the annual report. These accounts will come back when the market recovers.

It is important to note that the weekly offertory and parish special collections did not fully cover the full operating expenses of the parish. This shortfall in the offertory has been made up from interest on savings accounts, dividends from investments, transfers from trust funds and withdrawals from savings accounts. The money that has come into the parish was used to not only maintain and improve our 16 buildings but also to: nurture the liturgical life of our church communities; support All Saints Catholic School; build up catechesis for people from 4 to 94 including faith formation from Pre-K through high school; RCIA, adult programs and many other educational opportunities; ministering to the physical and spiritual needs of our brothers and sisters who are sick and infirmed, who are having difficulties with food, heating oil and other day to day needs; supporting men and women who feel a calling to religious life; and too many other ministries to address in this summary.Also, please note that because of our new accounting system, there are new accounts this year, which is why some accounts for the last fiscal year show a zero balance.

The second report summarizes the operations of All Saints Catholic School. Our school ended the year in a positive financial position while providing an excellent education that prepares its students for high school and beyond in an environment that develops Catholic formation. The strength of the schools financial position has helped it to be less dependent on the parish for monetary support.

The third report reflects the operations of Mt. Pleasant Catholic Cemetery for the past year. We were able to build a new Columbarium this year with our share of funds that were available from the 2009 Diocesan Capital Campaign that was recently completed. With the income and expenses for the year, the cemetery closed the fiscal year with a net income of $28,894, but because of a loss of $94,708in the Diocesan Pool accounts, the report reflects a loss of $65,834 for the year.

The final report shows the budget for the 2016/2017 fiscal year.

If you have any questions about this financial report, please contact a member of the Finance Council or for copies of the Balance Sheets, contact Cheryl Whalen in the parish office.

2015-2016 Finance Council Representatives: Rich Armstrong, Mary Ann Beatham, Leon Binette, Patti Corey, David Gould, Jason Gould, Scott Oxley, Paul Pasquine, Michael Soucy and Gerald Thibodeau

St. Paul the Apostle Parish
Statement of Activities
For the Year ended June 30, 2016
Year To Date / Prior Year To Date
06/30/2016 / 06/30/2015
Actual / Actual
Revenue
Unrestricted Revenue / 2,070,597 / 1,962,267
Temporarily Restricted Revenue / 93,984 / 86,044
Net Assets Released From Restrictions -
Temporarily Restricted / (111,107) / (8,700)
Total Revenue / $ 2,053,474 / $ 2,039,611
Expenses
Worship & Spirituality
Liturgy / 4,460 / 2,500
Music / 90,219 / 80,678
Family Life / 1,997 / 2,657
Ministry & Liturgy - General / 188,759 / 175,699
Total Worship & Spirituality / 285,435 / 261,534
Faith Formation
Children Faith Formation / 126 / 388
Youth Ministry - Junior High School / 2,074 / 3,935
Youth Ministry - High School / 19,641 / 14,517
Adult Education / 7,861 / 2,707
RCIA Formation / 2,190 / 2,220
Vacation Bible School / 3,931 / 4,475
Faith Formation / 108,045 / 94,917
Total Faith Formation / 143,868 / 123,159
Charity/Outreach
Charity - General / 79,115 / 38,761
Total Charity/Outreach / 79,115 / 38,761
Other Programs
Other Parish Programs - General / 13,905 / 17,693
Total Other Programs / 13,905 / 17,693
General & Administrative
Parish - General & Administrative / 744,908 / 758,563
Total General & Administrative / 744,908 / 758,563
Facilities
Facilities - Office / 6,051 / 0
Facilities - Church / 388,240 / 410,332
Facilities - Rectory / 176,788 / 151,364
Facilities - Parish Hall / 9,766 / 27,632
Facilities - Other / 173,061 / 186,879
Total Facilities / 753,906 / 776,207
Other
Misc. / 11,294 / 0
Total Other / 11,294 / 0
Total Expenses / 2,032,431 / 1,975,917
Total Net Income (Loss) / 21,043 / 63,694
Unrestricted Unrealized & Realized Gains (Losses)
on Investments / (89,957) / 6,674
Temporarily Restricted Unrealized & Realized Gains
(Losses) on Investments / (171,422) / (69,548)
Total Unrealized & Realized Gains (Losses) on Investments / (261,379) / (62,874)
Total Change in Net Assets / $ (240,336) / $ 820
All Saints School
Statement of Activities
For the Year ended June 30, 2016
Year To Date / Prior Year To Date
06/30/2016 / 06/30/2015
Actual / Actual
Revenue
Unrestricted Revenue / 1,854,959 / 1,849,853
Total Revenue / $ 1,854,959 / $ 1,849,853
Expenses
School - Instructional Group
School - Instructional / 657,813 / 549,499
School - Pre-School / 133,610 / 150,320
School - Pre/After School Prog. / 55,308 / 40,993
Total School - Instructional Group / 846,731 / 740,812
School - Extracurricular Activities
School - Athletics / 16,033 / 12,812
School - Student Activities / 9,697 / 10,532
Total School - Extracurricular Activities / 25,730 / 23,344
School - Student Services
School - Student Services / 33 / 847
School - Transportation / 15,821 / 16,090
Total School - Student Services / 15,854 / 16,937
School - Other Programs Group
School - Other Programs / 3,215 / 5,967
School - Resale / 3,748 / 6,328
School - Food Services / 41,475 / 38,725
Total School - Other Programs Group / 48,438 / 51,020
Total School - Facilities / 23,902 / 38,309
School - Administrative Group
School - General & Administrative / 650,720 / 574,175
School - Admissions and Marketing / 1,564 / 0
School - Development / 239,246 / 248,411
Total School - Administrative Group / 891,530 / 822,586
Total Expenses / 1,852,185 / 1,693,008
Total Net Income (Loss) / 2,774 / 156,845
Total Change in Net Assets / $ 2,774 / $ 156,845
Mt. Pleasant Cemetery
Statement of Activities
For the Year ended June 30, 2016
Year
To Date / Prior Year
To Date
06/30/2016 / 06/30/2015
Actual / Actual
Revenue
Unrestricted Revenue / 257,474 / 158,031
Unrestricted-Limited as to use - Cemetery / 4,219 / 0
Temporarily Restricted Revenue / 2,239 / 2,201
Total Revenue / $ 263,932 / $ 160,232
Expenses
Cemetery - Grounds / 81,030 / 24,125
Cemetery - Columbarium / 58,051 / 0
Cemetery - Facility / 5,718 / 30,219
Cemetery - General & Administrative / 87,862 / 120,627
Other / 2,397 / 0
Total Expenses / 235,058 / 174,971
Total Net Income (Loss) / 28,874 / (14,739)
Unrestricted Unrealized & Realized Gains (Losses) on Investments / (94,708) / 6,486
Total Unrealized & Realized Gains (Losses) on Investments / (94,708) / 6,486
Total Change in Net Assets / $ (65,834) / $ (8,253)
St. Paul the Apostle Parish /
Parishioner Budget
As of July 01, 2016
Year Beginning
7/1/2016
REVENUE
Offertory / 1,350,000.00
Fundraising Events Revenue / 10,500.00
Rental Income / 34,400.04
Donations - Unrestricted / 80,499.96
Donations - Temporarily Restricted / 200.04
Sales Income- Other / 4,299.96
Special Purpose Offertory / 24,999.96
Registration Income / 2,800.08
Catholic Appeal Rebates / 23,000.04
Investment Pool Dividend / 44,000.04
Faith Formation Tuition / 3,399.96
Income From Beneficial Trusts / 104,000.04
Interest From Diocesan Savings & Loan / 9,000.00
Other Income / 20,000.04
Room & Board - Clergy / 14,400.00
Stole Fees / 6,500.04
Youth Ministry Income / 9,999.96
TOTAL REVENUE / $1,742,000.16
EXPENSES
Fundraising Events Expense / 3,000.00
Diocesan Assessment / 182,000.04
Clergy Health Program / 40,947.00
Employee Benefits - Lay Employees / 99,128.04
Mileage Reimbursement / 12,700.08
Contracted Services - Other / 111,672.96
Professional Development / 9,000.00
Minor Equipment & Furnishings / 2,800.08
Capital Improvements / 19,000.08
Equipment Rentals / 15,000.00
Insurance - Property / 52,847.04
Equipment Repairs & Servicing / 3,000.00
Building & Site Maintenance / 73,999.92
Priests' Salaries / 37,859.04
Salaries - Lay / 457,172.04
P/R Taxes FICA / 34,974.00
Scholarships / 800.04
All Saints School Subsidy / 40,000.00
Curriculum/Instructional Expenses / 6,399.96
Resale Inventory Expense / 3,000.00
Library Books And Periodicals / 500.04
Postage / 3,000.00
Office Supplies / 39,000.12
Supplies / 39,099.96
Janitorial Services & Supplies / 16,200.00
Contracted Transportation / 500.04
Heating Fuel Costs - Oil / 68,998.08
Heating Fuel Costs - Natural Gas / 68,583.12
Telephone / 9,500.04
Utilities / 86,335.20
Parish Socials / 4,500.00
Donations Expense / 55,100.04
External Priests' Fees / 3,999.96
Collection Envelopes / 10,500.00
Miscellaneous Expenses / 78,499.92
Online Giving Fees / 5,499.96
Property Taxes / 20,774.04
Table & Household / 24,000.00
TOTAL EXPENSES / $1,739,890.84
TOTAL NET INCOME / $ 2,109.32