Attendees: Fr. Rob Howe, Pat Regier, Judy Gross, Andy Pasztor, Kevin Spencer, Kathy Fothergill, Pam Gandy (via Zoom), Mike Erickson (via Zoom),
Reported by: Fothergill
Opening Comments: Fr. Rob explained that Blessed Sacrament Parish and each of the other parishes in the Diocese will be set up as non-profit corporations, and that legal title of parish real estate will be transferred to each parish corporation. This structure will provide civil corporate protection to each parish in the event of claims against another parish or against the diocese. The structural change will not have a substantial impact on the normal operation of the parish. Pastors, staff, councils and committees will continue to function as before.
School Closure Update: All of the full-time school employees (principal, 5 teachers, 1 para-professional) have found employment at schools in the area. Most of the school equipment and supplies have been donated to neighboring Catholic schools including St. Brigid, Auburn Catholic and Sacred Heart Catholic. St. Mary’s Cathedral received some tables and chairs for their children’s Faith Formation groups. Preschool toy, supplies and books were donated to Chippewa and Sanford preschool and daycare programs. ESA will take the school library books and re-distribute to Midland Public Schools. Windover High School, which experienced significant flood damage in May, was able to take teacher desks, filing cabinets and other equipment and supplies.
Fiscal Year End Summary (June 30, 2020): Net Assets increased by $30K, with lower expenses in most categories. Weekend Collections were down $35K vs. budget and $13 vs. prior year. We received $245K in May from the Paycheck Protection Program via an SBA loan. We anticipate that we will be able to retain the entire amount. Major Expenditures Fund increased by 9%, as our tithe more than offset cost of the year’s projects. PSA Dedicated fund is now zero because of the school closure. The prior balance of $36K will be sent to St. Brigid School. Cash reserves at June 30, 2020 were $2,113K, an increase of $209K vs. the prior year, due to the PPP loan proceeds. The 5-year Annual Average Cash Balance of $1.9M covers approximately 10 months of operating expenses.
Fiscal 2020-2021 Budget: Budget includes: a 30% reduction in Weekend Collections; no increase in Salaries & Wages; the impact of the school closure, including a reduction of employee costs, supplies, services and food costs; cost of church roof replacement project.
Christian Services Appeal (CSA) is now called Christ Mission Appeal, and will take place on October 24/25. Our target is $205,734, down 3% vs. last year. The appeal will be coordinated by the Diocese, and will not include home visits.
Financial Results YTD: For the first two months of the year, Net Assets increased by $82K. Weekend Collections for the period were $20K above budget but $18K below last year. Other revenue YTD was below budget due to lower Faith Formation fees and lower Memorial donations. Total Expenses YTD were also below budget but are expected to increase as activity picks up. Weekend Collections continue to track ahead of budget at this point in September.
Facilities Update: Church roof replacement is underway; expect to finish by early October. Livestream camera equipment has been ordered; expect completion by end of October.
Roundtable: Sunday Mass schedule for October will be back to “normal” with Saturday Mass at 4:00 p.m. or 5:00 p.m. (TBD) and Sunday Masses at 8:30 a.m. and 11:00 a.m., with the latter Mass held outside in October, weather permitting. Fr. Rob also mentioned that the school building now gives the Parish more meeting space that satisfies COVID-19 guidelines. Separate meetings can now be held in the Parish Center, in the Social Hall and in the school building.
Meeting adjourned at 8:15 p.m.