Annual Financial Snapshot: Where We Stand

In this week’s bulletin we are including our end-of-year financial snapshot and recently approved budget for the new fiscal year. Our fiscal year runs July 1-June 30. The first column shows our FY27 budget for the current year (2026-27). The middle column shows our actual revenue and expenses from the recently completed FY26 (2025-26). The final column shows our actual revenue and expenses from FY25 (2024-25) for comparison purposes.

What appears here is an abbreviated statement. The complete statements separate out the categories into additional sub-categories. If you wish to see a complete set of financial statements, contact Scott Jacobi, Director of Parish Finances, in the parish office.

Thanks in large part to a few very generous gifts received in FY26, along with our strong Investment performance, we ended the year with a net income totaling $198,723 vs. a budgeted deficit of ($159,160). As in years past, the Parish Finance Council, and ultimately the Diocese, accepted the idea of budgeting for a deficit knowing we had savings from previous years to help cover the deficit. We do not budget for gains or losses relating to our investments, except for interest income, due to the inherent volatility of the stock market. As our investments have continued to perform well over the last few years, we have continually closed the gap between budgeted revenue and budgeted expenses with our investments’ net gains.

With your generosity, we were able to move up multiple expenses relating to maintenance projects into FY26. These included the school and church computer firewalls, upper and lower-level window work at the church, and parking lot/ playground work at both the School and the Church. We were also able to commit to and execute the change to LED lighting throughout the School and Church which will save on electricity moving forward. As this project was only recently completed, the expense for the LED change will show up in our FY27 reporting.

As can be seen from the snapshot, Maintenance/Grounds/Utilities Expenses are consistently behind only Wages/Benefits for our largest overall expenses. While our weekly Maintenance and Utilities Collections continue to grow each year, we rely heavily on larger gifts to ensure we can keep up with the growing number of projects needed to keep our aging school and church buildings safe and up to date. Our Building and Grounds Committee meets monthly to discuss all things related to our Parish properties. If you are interested in learning more about the project list in hopes of potentially sponsoring or donating to a specific project, please reach out to me. A few current projects under review are the church social hall floor, church kitchen, church exterior work, and church bathrooms…just to name a few!  

Overall, Wages and Benefits continue to be our largest expense at roughly seventy percent of our budget. Our payroll, twice per month, is now consistently over $100,000 and we have seen healthcare costs increase by roughly 40% vs. just three years ago.

Our balance sheet remains strong as we’ve continued to add to our investment principle. We have one outstanding note for $146,000 with the Small Business Administration. We accepted this loan back in 2021 during Covid, as it was made available. The Parish Finance Council saw it as potentially helping cash flow amid the uncertainty of that time. The interest rate is quite favorable, but we do make monthly payments.

We continue to hold our investments with Edward Jones and the Catholic Extension Society. Edward Jones helps us invest in more conservative products and The Catholic Extension Society helps us invest more aggressively. Through our newly formed Investment Subcommittee, we are continually analyzing how best to balance our expected return vs. risk.

For the coming year we have – as we have done in the past – budgeted conservatively. We are projecting a deficit in FY27 of ($96,933). It is hoped that with continued increases in giving and gains on our investments, we can again end the year with a slight net income. It is also helpful that our Tuition Income is increasing roughly 15% with an increase in school tuition and more importantly an additional 30 plus students in our school.

Regarding the long-term financial outlook for our parish, we now continually update our 5-year plan based on current performance and trends. As expected, our initial work shows that in each of the coming years, we will need to depend on the continued increases in giving and gains on investments to balance the budget. To ensure we put the overall Parish in the best position possible, we have established subcommittees to provide direction to the overall Finance Council. In addition to the Building/Grounds, and Investment Subcommittees, there are the Planned Giving, Capital Campaign/Stewardship, and Accountability Subcommittees. If you would like more information or would like to join any of these groups, please reach out to Scott Jacobi in the parish office.

Please let Scott or myself know if you have any questions.

~Father John Gerritts

Scott’s EMAIL | Phone #: 715-381-5120 ext. 303
Father John’s EMAIL | Phone #: 715-381-5120 ext. 306

YEAR-END FINANCIALS REVENUE & EXPENSES SPREADSHEETS HERE