St. Augustine’s Fiscal Year Results /Comparisons

September 1, 2016- August 31, 2017

NOTE: All bills paid thru 8/31/2017

Account / Cash Balance as of 8/31/2016 / Cash balance as of 8/31/2017 / $ difference / % difference
Parish Checking / $ 3,787 / $ 823 / $ - 2,964 / -  78%
Building Fund / $ 14,327 / $ 8,984 / $ - 5,343 / -  37 %
DEF Savings / $ 93,259 / $ 99,882 / $ + 6,623 / + 7 %
DEF Alter Server / $ 1,459 / $ 1,499 / $ + 40 / + 2.7 %
Net All Accounts / $ 112,832 / $ 111,188 / $ - 1,644 / - 1.5%

Total Operating Income

8/31/2016 / 8/31/2017 / $ +/- / % +/-
Regular Offering collections / $ 148,502 / $ 143,693 / $ - 4,809 / - 3.3 %
Total operating Income / $ 198,014 *
** - $7,000 DEF / $ 200,672*
** - $ 16,000 DEF / $ + 2,658 / + 1.3 %
Net w/o DEF Savings Borrowed / $ 191,014 / $ 184,672 / $ - 6,342 / - 3.3 %

* Includes Gifts, Craft Fair, Project 60, Rafflemania

** includes borrowing from DEF (Savings account in Worcester)

Total Expenses

8/31/2016 / 8/31/2017 / $ +/- / % +/-
Total All Expenses / $ 209,710 / $ 200,166 / $ - 9,544 reduced / - 4.6% reduced
Balance between Expense/Income / $ - 18,696 / $ - 15,494 / Improving but still running deficit

Key/ Results /Facts

1. Reduced expenses for second year in a row by an additional $ 9,544 (4.6 %). “16/17” Goal set 3.9% or

$ 8,101. Goal was exceeded.

2. Goal Set to reduce borrowing from DEF (savings) to only $3,500 or a 50% reduction from prior year.

Actually increased borrowing from $7,000 year prior to $16,000 this year to meet expenses.

What Happened? Number of envelopes used has decreased by 7 % , only 5 members of Parish are

using electronic giving and regular Sunday collections are down by 3.5% or approximately $5,000.

Major fund raisers are now being used not only to help offset fixed costs IE(insurance, clergy benefits,

administrative salaries) but also are being used to offset operational costs IE (Heat, light ,power and

Custodial services) as weekly collections fall short and we are forced to increase our borrowing.

What can be done ?

Father and the Finance Committee will again reduce expenses by 3.1% approximately $6,000, we

received permission from the Bishop and rented the rectory to a local fireman and his family to help

the parish off set increasing operating costs to all 3 buildings. Wherever cost sharing was possible IE

(CCD, Deacon, Seminarian or house hold expenses) with Good Shepherd we took advantage of

reducing expenses.

What can we the Parishioners do ?

Volunteer to help in one of the many ministries we offer at St. Augustine’s… Actions speak volumes !

Strongly Consider electronic giving so that we can better plan on serving the parish’s needs

Review and renew your commitment to your neighbor and Parish so that you will be known by

“Your actions and deeds in Life ”

While money is important, as it allows for the church to exist and pays its bills, what really makes St.

Augustine’s SPECIAL to My family and hopefully YOURS is the spirit that exists in ALL parishioners who

Volunteer and step forward in time of need to help out their neighbors.

In closing, I would like to thank all of you in behalf of your pastor Father Esposito, Father Daniel,

Deacon Marc and the other members of the Finance committee for your past commitment to

each other thru your “ACTIONS” to the parish and your consideration of renewing your commitment

again this year.

AMEN…………….