Parish Financial Report
The members of Saint Gabriel Catholic Church Finance Council are pleased to present the following financial report to our fellow parishioners.
Due to the generosity of our congregation, our finances are solid, and our parish community is thriving. We are blessed.
Our operations finished the year $174K better than projected. With the addition of restricted gifts, St. Gabriel ended the year $407K ahead of plan. Revenue exceeded our budget by $255K. This was largely due to the increase of $212K in our Offertory. Collection trends were positive and exceeded expectations. Expenditures closed the year slightly over budget, largely due to increases in facilities expenses. In this year’s budget, we anticipate revenue to remain flat, and expenses to increase slightly.
As with most years, the largest percentage of our expenses are costs associated with our parish staff and our support of the Mecklenburg Area Catholic Schools. The year ended June 2016 included a 2% salary increase. Gross payroll, taxes and benefits represented $1.4 million and increased by $110K from 2015 to 2016. Health insurance costs were $125k and are estimated to increase by $13K in 2016. Our MACS assessment increased from $625K in 2015 to $652K this year. This increase is due an additional 64 students from our Parish attending MACS.
We continue to invest in the safety and maintenance of our facilities. In 2016, the Rectory underwent some much needed renovations, bathrooms were updated to meet handicap standards and the kitchen was remodeled. This coming year, in partnership with the St. Gabriel Building Committee, we plan to identify additional ways to make our campus more environmentally efficient and friendly.
St. Gabriel remains a tithing Parish, making a difference in the Charlotte community. Each year we set a target to direct 10% of offertory towards deserving charities. 2016 was no different, as we exceeded our tithing budget by giving $337K to local charities. Find details on our 2015-2016 parish tithe here.
We continue to be inspired by the leadership of Pope Francis. In addition to tithing, we grew our Pope Francis Initiative (PFI). The goal of the PFI is to make one time, meaningful contributions to organizations outside of our tithing effort. Led by Fr. Frank, the (PFI) Advisory Committee has chosen to have a broad reach in hopes of addressing needs both local and international in nature. This past year, we donated $50,000 to Catholic Charities of Charlotte Diocese to assist the local immigrant community. We committed $68,000 to Catholic Relief Services for their Water Sanitation and Hygiene (WASH) program in Nairobi, Kenya. We also provided a $50,000 grant to Lily Pad Haven, a local non-profit that serves women whom have survived human trafficking. This coming year, PFI plans to support the Catholic Charities Refugee Resettlement Office’s effort to address the refugee crisis in the Middle East.
As we close the fiscal year of 2015-2016, we reflect on our many blessings at St. Gabriel. Because you give of your time, your talents, and your treasure, our parish is thriving. Thank you, and God bless.
The Saint Gabriel Church Finance Council: Bryant Brewer (Chair), Mark Adamson, Chris Brown, Lee Cochran, Steve Gennett, Sr., Steve Gennett, Jr., Ron Levin, Sandra Lazorcheck, Lynne Roux, Steve Pernotto and Paul Grim