Financial Management

    The Statement of Cash Flow (under DOCUMENTS in the left column) shows our parish cash balance increased $189,105. There is multiple reason for this increase, such as parishioners continued generosity, obtaining a second PPP Loan of $183,000 and our staff continued efforts to maintain our expenses to a minimal.  FY 2020-2021 Comparative Financial Statements are under DOCUMENTS in the left column.
      We are very fortunate to have a strong faith community willing to help spread the good news of Jesus Christ by sharing the gifts God has given us: time, talents, and treasures. In terms of treasures, our parish is in a fair financial position. This was made possible because individuals and families like you stepped up and offered your contributions. May God bless you for your support!
During FY 2021, we had a steady flow of monetary contributions due to your generosity. Your contributions helped, for example, revenue exceed expenses increasing our cash balance and renovate our Church building without incurring a related debt.
     Our regular (Sunday, Holy Day and On-Line Giving) collections accounted for 68 percent of our total revenue in FY 2021. Prior to the pandemic, our regular collections average $29,000 per week. This average significantly decreased when the pandemic took hold. Our weekly average dropped to $19,700 at the beginning of the pandemic. As FY 2021 progressed our weekly average gradually rose and averaged $22,400 in the last quarter of FY 2021. Additionally, in response to Fr. Eugene’s request, our collections shifted significantly from checks and cash during Mass to electronic giving through credit cards and automatic bank payments. The change is how we receive contributions makes the funding level more consistent for planning purposes. The current revenue level allows us to maintain our ministries (no staff reductions and no pay increases); but prevents us from filling vacant maintenance and Adult and Family Ministry positions as well as hiring a Parish Development Coordinator and addressing needed repairs and maintenance. We are sincerely appreciative for the continued generous support of our parishioners.
     In addition to regular collections, we were able to secure a second Paycheck Protection Program (PPP) loan in the amount of $183,000. We used these funds to help pay a portion of our staff payroll and utilities. The combination of our regular collections and PPP funds contributed to increasing our cash balance by $189,000. As we did with our first PPP loan, we plan to apply for forgiveness of the second PPP loan. We are hopeful that the second PPP loan will be forgiven.  
     Our Church building went through a major renovation. The majority of the building’s floors were replaced; walls and doors received a fresh coat of paint, the wall behind the Altar was renewed and our pews were given a fresh coat of stain. We paid most of the project’s cost ($103,500) using funds raised through our annual raffle and donations. We also received funding ($24,000) from the Our Faith, Our Future campaign. Our parish was able to accomplish this major project despite not having our biggest fundraiser in FY 2021, our Fall Festival due to the pandemic. The cost of this project would have been significantly higher had it not been for the generosity of organizations, such as the Knights of Columbus, and volunteers. They contributed countless hours of physical labor. They moved the pews, stained the pews and wooden doors, painted walls and doors, stained and installed the wooden baseboards and hand rails. They also moved all the furniture and liturgical supplies to our Community Center and back to our Church building. This project once again proofed that God’s people can achieve many things if they are united.

PARISH BUSINESS OFFICE

The Business Office manages the financial and physical assets of the parish. In administering the operational requirements, this office prepares the budget and executes control over expenses and purchases. It is also the point of contact to the Diocese of Dallas relating to financial management, fundraising & development, contract implementation, facility management and human resource administration.  

PARISH NURSERY (Temporary Closed Due to Pandemic)

One area supervised directly by the Office of Business Administration is the nursery and its staff. Our nursery enables parents to have confidence that their children are well cared for in a safe environment while they devote their attention to Sunday Mass and church sponsored programs and activities. Child Care Coordinator/Nursery Director, Sharon Bush's goal is to make sure that children's church times are happy times.

PARISH FESTIVAL 

We have one major fund raiser a year. We like to think of it as a "fun raiser." In the past, the parish festival, which is held on Saturday of the last full weekend in September, provides much needed funds to supplement the generosity of our parishioners. Here is one activity with a place for every volunteer in the parish. Get involved and have fun!

Can. 532 In all juridical matters, the parish priest acts in the person of the parish, in accordance with the law.

Can. 537 In each parish there is to be a finance committee to help the parish priest in the administration of the goods of the parish, without prejudice to can. 532. It is ruled by the universal law and by the norms laid down by the diocesan Bishop, and it is comprised of members of the faithful selected according to these norms.