Below is the summarized financial statement for our fiscal year which ended June 30th. I’d direct your attention to columns 3 & 4 (inside the boxes) for a comparison of the year’s planned and actual values. The rightmost column reflects the plan for this new year (July 2020 to June 2021).
For the year, our net operating surplus exceeded the plan/budget by $31,650. We were able to pay all our bills on time, continue our debt payments and for the first time in some years, boost our cash reserves.
While there were numerous line item variances, the report reflects that most income and expense categories experienced minor variances to the budget/plan. I would highlight the following:
Before we get too comfortable with what for us is a nice cash reserve, I need to share that looking forward our next significant expenditure/investment will be the roofs. While they are maintained annually and are patched when leaks occur, both the convent and school roofs need to be replaced in the not too distant future at a likely cost of $100K - $200K .
On another positive note, along with the normal expenditures as reflected in the financial statement, there were additional outlays from restricted funds that are not reflected in the statement: $4,000 was collected via the Angel Fund envelopes and was passed on to our school, Wauwatosa Catholic, for tuition assistance. We collected and sent $7,680 to our Sister Parish; $45,100 was collected for the Living Waters Campaign (a record!) and $23,630 was spent for the security system (cameras and an electronic door lock system) from the FB&G Improvements Fund (take pride in Pius brown envelopes).
A huge THANK YOU to all who contribute their time, talents and financial resources to the operation of St. Pius X Parish Community and all our ministries!
- Dean Weyer, Director of Operations & Finance