Financial Update

As we look at the road ahead,  we are invited to consider the financial picture of our daily ministries and the new buildings that make these ministries more effective.  Just as we recall those before us who have been so generous, we too need to reflect on how we can walk together in fulfilling our responsibilities for those who will come after us. 
 
If we look at our daily income and expenses as a parish, we have an annual operational budget of about $1.5million each year. The payment of our diocesan loan for the upcoming years adds $127,000 each year just for the parish.  When you consider our total expenses, the loan makes up about 8%.  Now the school has also to make payments for the diocesan loan of about $63,000 a year.  Meaning our total loan payments are almost $190,000 a year.
 
How does this unfold over the upcoming years? We have raised $6.2million for this project.  That’s about half of the total of $13million for our new school and parish offices. 
For the next 5 years, until around 2023, the school and parish are going to work to make those payments of $190,000 each year.  While we anticipate special gifts, estates, and bequests over the next few years to help us in meeting our debt; in 2023 we plan on having a smaller campaign to pay off whatever balance of the loan remains.
 
What we are asking you to Discern this week is:
 
1.  Review your current SI Capital Campaign pledge over the next week.
 
2.  Make a pledge if you have not yet. Turn in next week during the normal collection.
 
3.  Consider your weekly Contribution at mass
Our Weekly parish collection  =   $22,000/week 
With 2800 registered families =   $7.85/week per family
 
Please consider assisting in our expected increase of annual costs by 8-10% over the
next 5 years. 
 
·         If you give $10 per week – increase to $11-15/week
 
·         If you give $20 per week – increase to $22-25/week
 
·         If you give $100 per week – increase to $110-$120/week
 
Thank you for your prayerful discernment and continued generosity.

Download Financial Data PDF