First Quarter Financial Report of 2025 to the Parish

Over the past few years, I have reported the weekly and monthly Sunday donations in the weekly newsletter.  However, this is not our only income. Our other income is made up of grants, such as the Diocesan Cathedral grant of $40,000 or is the result of unforeseen generosity of parishioners.  The traditional Sunday donations, by either envelop or PAG, still makes up the majority of our annual income, usually about 60%.  This is important because it is the one area in which you and I can have a profound effect on our resources! 

Turning to the first quarter, our total income was $121,796.  Of this amount, Sunday donations were $104,597.  The remainder was the Diocesan Grant and other miscellaneous income.  Added to this amount was the bank balance of $11,968 at the beginning of 2025, resulting on a total of $133,764 to meet our first quarter expenses.

However, our first quarter expenses were $197,587.  The bulk of these expenses were payroll, $89,000, Common Ministry and Mission, $27,450 and Utilities $26,112.  Other quarterly expense such as Insurance payments of $16,000 and other miscellaneous expenses made up the remainder. 

The result was a bank balance on March 31st of -$63,823, covered by our overdraft of $65,000.  Fortunately, within a few days, early April donations reached the bank and reduced the deficit to about -$26,000.  Regrettably, this deficit will increase once April expenses are paid.

The forecast donations for April is $28,000.  To date the first two weeks of April have resulted in income of $5,000 against a goal of $7,250, somewhat less than hoped for.  However, I’m confident we can meet the monthly goal, particularly with Easter upon us.  Are you?

On a positive note, the removal of the carbon tax should reduce our utility bills in the 2025/6 heating season by an average of $2,000 per month!

 

Warren Everett,

Treasurer

 

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