Operations & Finance Updates

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: 
 

• Even considering the COVID crisis, parishioner giving was just shy of the plan! 
  
• We received $26,000 in unplanned donations from a couple non-parishioner Pius supporters. 
  
• The Pandemic Assistance monies were used to cover shortfalls in offertory contributions and fundraising (SCRIP) and to ensure that our staff could be retained and paid during this crisis. 
  
• Facility rental income and facility use charges (credits to B&G costs) increased substantially as Kingdom Prep is now using both floors of the school. For 2020 we were also able to continue other 3rd party gym rentals ($70,000).  However, going forward, these outside gym   rentals will be minimal as the school’s needs/use increases. 
  
• In accordance with the corporate relationship between Pius, Wauwatosa Catholic School and St. Bernard, subsidy and facility use charges were renegotiated for 2021-2023. 
  
• An increased Pastoral/Liturgy cost over recent years is due primarily to our phased in approach of fully reimbursing the Salvatorian Order for the cost of having a full time priest/pastor. 
  
• One of the elements of the increased Admin/ Stewardship spending is our investment in the creation of a new full time staff position (Office Manager/Communications Coordinator). 
  
• In the B&G Maintenance/Supplies/Services category, we took advantage of the increased rental income the past two years to invest back into our buildings: we contributed toward some of the improvements for Kingdom Prep and    addressed some long deferred maintenance to our multiple furnaces, boiler, air conditioner and air handlers.  This will pay dividends down the road as these pieces of equipment now operate more efficiently.   

 
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 
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