Inserted into this week’s bulletin, you will find three separate financial statements: one for Our Lady of Lourdes, one for St. Anne, and one for Seton Catholic School for the fiscal year which began on 1 July 2016 and ended on 30 June 2017. Although we are a cluster, Our Lady of Lourdes+St. Anne, and try to cooperate in every way possible, for financial purposes we must account for the parishes and school separately.
On these financial statements, you will see:  how we did for each category of income or expense,  how that compared with what we budgeted at the beginning of the year, and  our budget for the present fiscal year 1 July 2017 to 30 June 2018. The good news is that each parish and the school are in the black. This is due to your financial support and to the school and cluster staff’s efforts to contain costs. Thank you! We need to continue those efforts of strong financial support and careful costcontrol going forward.
Each week in the bulletin we have been reporting how much we received in the collection and how much we budgeted to receive weekly. It seems that the way we have reported the figures has been confusing and somewhat misleading to some people. When on a given week the amount received is less than the amount budgeted, some have thought that indicated a cash deficit. When they add together the weeks when collections did not meet the budget target, they imagine a growing parish deficit.
As you can see from the financial statements, that is not the case. For example, while weekly plate collections are our largest and most important and dependent source of budgeted income, it is not the only source of income. Also, we have prevented deficits by not exceeding our means at the churches and Seton school. We keep careful track of our budgets and cashflow. Just as with your family finances, when the money is not there, we cut back wherever we can so not to overspend.
Because the way we have been reporting the collections has been confusing, we are changing how we show the collections in the bulletin. Beginning with this bulletin you will see the amount of the weekly (envelopes, loose cash & EFT) collections for each parish, and also noteworthy special collections (e.g. missionary appeal, or hurricane relief), but we will remove the amount budgeted for the weekly collections to prevent confusion. I hope that this change in reporting the weekly collections will be less confusing. If you have questions about the financial statements, please send them to me.
Thank you for all that you do for Our Lady of Lourdes+St. Anne parishes and Seton Catholic Schoolyour gift of your time, your talents, and your financial support is most appreciated!
Grace and peace,
Fr. Gary Tyman