Parish Finance Council Approves2018/2019 Fiscal Year Budget
The parish budget runs on the fiscal calendar year which is July 1st – June 30th. It is the responsibility of the Parish Finance Council to approve the yearly operation budget for the parish.The Council also meets quarterly to review the current budget in order to make sure that there are not any problems.
The budget approved by the Finance Council for the 2018/2019 fiscal year has been set at $233,893. The Council was able to reduce the parish budget by $38,754. The current fiscal year budget stands at $272,647.
When figuring out how next year’s budget gets broken down to the weekly offertory goal, an error was found in the amount that was needed for this year. Instead of needing $4,327 as posted we actually needed $5,243.21 each week in order to make the budget goal of $272,647. The reason I mention this is because the weekly offertory goal for the 2018-2019 is set at $4,498, which appears to be a weekly increase of $171.00. I can’t explain why we did not have the correct weekly goal of $5,243.21 for this year. It was simply a mistake in calculation. I hope that this is not too confusing.
The reason why we were able to reduce next year’s budget by $38,754 was by not budgeting any money for capital improvements. Any capital improvements to the parish in the coming year will come out of the Witness to Hope funds. In further reviewing the rest of this year’s budget we were able to reduce areas in the budget that had been over estimated what was needed.
St. Catherine Laboure has 188 households that receive weekly offertory envelopes in the mail each month. Less than half of these envelopes are used each week. It is vital that each household supports the parish according to their financial ability. Costs never go down. Most likely we will not be able to make any further reductions in the budget for fiscal year 2019-2020.
-updated May 23, 2018