St. Edward Finance Council

Minutes

Meeting Date: March 27, 2017 from 6:00pm to 8:00pm

Attendees: Father Brendan, Donna Upton, Randy Redwitz, Stephanie Espinosa, Frank Cincotta, Barbara Belavic, Linda Ramirez and Catherine Muzzy.

Youth – Stephanie and Laura Schuberg presented the Youth budget for next year. The budget added more expense categories so it was easier to budget and track expenses to particular items instead of lumping everything into “Activities” expense. The Steubenville retreat income and expense were both lowered as taking less youth to event and the cost per person is less. The budget was approved as a breakeven with $20,850 in total revenue and expenses.

Faith Formation - Stephanie and Donna Couch presented the Faith Formation budget for next year. The changes in the budget from last year include a higher amount budgeted for Family Faith Formation Income which was increased by $7,000 based on what actual income was for this year. The increase is due to the fact that early bird registration discount was eliminated. Added a line item to clearly budget for pay pal expense which was just included in miscellaneous expense this year. This is the cost that pay pal charges for each tuition payment that is paid through their system. The budget was approved as presented with $153,200 in budgeted income and $132,300 in budgeted expenses with the difference of $20,900 being distributed back to the church.

School – Donna and Cathy presented the school budget for next year. The tuition increase presented in the budget was as discussed and tentatively approved in the February meeting. It was decided to not increase the budgeted enrollment for next year, budgeted it was decided to budget for an enrollment of 696 students for next year which the budget as presented had an enrollment of 690, Cathy stated that currently have over 715 that have paid the initial registration fee for next year. It was also decided based on this increased budget enrollment, that $25,000 of fundraising income no longer had to be used to fund operating expenses. Also, liability insurance and workmen’s compensation will be adjusted down as they were over budgeted based on projections of the cost. The rest of the budget including preschool and e-day were presented and tentatively approved as presented. Donna will run the new numbers with those adjustments and then send the budget out for final approval.

Fr. Brendan comments – Fr. Brendan announced that Bill Ryan will be resigning from the

Finance Committee. Will look to replace him prior to the next fiscal year.

Next meeting – is April 24th.