St. Antoninus Financial Statement

St. Antoninus Financial Statement

for fiscal year ending June 30, 2008

Dear Parishioners,

“Who is a Christian steward? One who receives God’s gifts gratefully, cherishes and tends them in a responsible and accountable manner, shares them in justice and love with others, and returns them with increase to the Lord.” (Bishops’ letter on Stewardship)

Below is the budget for St. Antoninus.

Schedule 1 Statement of Revenue and Expense Summary

Period Ended, June 30, 2008

	Actual	Actual	Budget
	2006-2007	2007-2008	2008-2009
REVENUE
Parish Sunday collections	$1,211,487	$1,270,161	$1,260,000
Bequest/ gifts	$83,473	$95,522	Not budgeted
Parish other	$189,395	$175,640	$140,400
School	$1,189,230	$1,240,665	$1,228,500
Total	$2,673,585	$2,781,988	$2,628,900

EXPENSE
Church	$763,211	$834,957	$686,900
School	$1,763,264	$1,901,806	$1,962,500
Total	$2,443,002	$2,736,762	$2,649,400

Fiscal Year Net REVENUE	$230,583	$45,226
Cumulative RESERVE	$401,674	$446,900

Further Budget Discussion:

Approximate Weekly Budgeted Collection to fund operating expenses and capital improvements = $25,500
The Finance Commission has approved gifting funds from interest income into the Tuition Assistance Program. This year $14, 000 was gifted from the parish; the budget also anticipates a decrease in interest rates.
Every school child receives a tuition reduction from our parish fundraisers: Grocery gift cards, Night at Races & St. A lottery. Please continue to support these programs.
School Revenue/ Tuition Budget Breakdown:

The full cost to educate 1 student is approximately $4400. School enrollment is 459 in grades KN-8.

The St. Antoninus 2008-09 tuition per child is $2300 plus a registration fee of $100

$780 = School Family Sunday requested donation: $15/week minimum

$290 = State Reimbursement per child

Remaining Parish Scholarship per child (based on 1 child; higher with more children with discount given):

$750-Parish Tuition Subsidy, $100-Parish Fundraisers, $80-School Endowment Interest

Schedule 2:   Statement of Revenue

Actual

Actual

Budget

Revenue Church

2006-2007

2007-2008

2008-2009

Collections

$1,211,487

$1,270,161

$1,260,000

School & Maintenance Support

$29,909

$27,190

$25,000

Fund Raising

$60,620

$53,258

$44,500

Interest Income

$50,281

$43,107

$25,000

Rentals

$30,479

$34,770

$32,900

Other (religious fees and stipends)

$18,105

$17,315

$13,000

Bequests/ Endowment

$83,473

$95,522

Not budgeted

total

$1,484,354

$1,541,323

$1,400,400

Revenue School

Tuition & Registration

$988,652

$1,022,880

$1,040,000

After School Program

$16,454

$9,372

$12,000

State Refund

$139,975

$146,684

$135,000

Endowment Interest

$37,040

$36,811

$36,000

Immediate Action Fund Disbursement

$21,600

Not budgeted

Other (milk, pop, pictures)

$7,110

$3,318

$5,500

total

$1,189,231

$1,240,665

$1,197,500

Schedule 3: Statement of Church Expenses

Expenses Church

Clergy & Lay Salaries

$211,712

$215,732

$262,800

Total Benefits

$41,196

$45,957

$57,900

CCD & Adult Education

$4,322

$5,593

$5,000

Rectory, Office & Other

$46,120

$45,885

$41,000

Altar, Sacristy & Liturgical

$8,139

$10,066

$8,000

Parish Activities

$4,582

$6,356

$7,000

Building & Maintenance

$67,357

$85,573

$84,200

Catholic Telegraph

$12,838

$17,513

$15,500

High School Equalization

$15,200

$17,000

$13,000

Archdiocese Assessment

$94,840

$127,076

$120,000

Endowment Fund Disbursement

$100,000

$35,000

Bequest Fund Disbursement

$143,995

Major Repairs

$62,432

$79,211

$70,500

Stewardship Campaign

$11,000

In office expense

$2,000

total

$679,738

$834,957

$686,900

Schedule 4:   Statement of School Expenses

Expenses School

Salaries Teachers

$994,368

$1,083,847

$1,119,500

Salaries Lay Personnel

$195,529

$199,019

$199,500

Total Benefits

$346,586

$360,998

$387,000

Administrative Expense

$24,412

$22,916

$30,000

Instructional Expense

$9,528

$7,824

$13,500

Technology Expense

36,703

$36,125

$36,000

Religion Expense

$16,870

$11,108

$15,000

Library & Audio Visual

$1,329

$388

$500

Building, Maintenance & Janitorial

$137,939

$138,347

$146,500

Major Repairs

UOR depleted

$41,233

$15,000

total

$1,763,264

$1,901,805

$1,962,500