Dear Parishioners:

I am pleased to provide you with our parish financial report for the 12 month period ending June 30, 2016.

First and foremost, thank you for your generosity and support of our parish during the past year. You are the backbone of the parish and I am grateful for your support.

To understand our parish's current financial situation it is important to understand a little history. During the fiscal year ending June 30, 2014 we experienced a decline in collections and increased expenses, and were unable to pay the full amount of our diocesan assessments. Under diocesan policy, any unpaid amount is immediately converted into a loan. As a result we have an out- standing loan to the diocese of $122,000. During the fiscal year ending June 30, 2015 we also faced challenges in paying our dioce- san assessments, but we were blessed to receive a one time bequest of $250,000 which was a great help.

During the past several months, in order to improve the financial situation in the parish, we have actively taken steps to reduce costs, both at the parish level and in the school. At this point, due to the cost reductions and your continuing generosity, we are able to pay our bills in a timely manner. In addition, some time next year we expect the diocese will request us to start repayment of our loan, so that will present an additional challenge.

Thank you once again for your generosity and continuing support. With my prayers

Fr. ThomasHoly 

Family Parish Financial Report is in Bulletin October, 2 2016