Attendees: Fr. Rob Howe, Pat Regier,Pam Gandy, Dan Kozakiewicz, Andy Pasztor, Joe Dostal, Kathy Fothergill
Reported by: Fothergill
Opening Comments: Father Rob reported that the Parish picnic was an all-around success. There were more attendees than last year, and the tent and the gym were both full. The golf outing was enjoyed by 26 foursomes. The car show was also successful. Separately, we may put barriers in the parish parking lot to reduce unwanted nighttime traffic from teenage/adult users of the park. Also, we are addressing some issues with cooling in the church.
Financial Results as of June 30, 2022: Total Net Assets increased by $27K for the full fiscal year ended June 30. Total Revenues exceeded Expenses, driven by Weekend Collections. Major Expenditures Fund has decreased by $121K as a result of significant projects, including repair and restoration of church pews and terrazzo floors. Ladies of Blessed Sacrament had a successful rummage sale in June with net proceeds of approximately $7,200. The School Dedicated Fund is now closed.
Cash reserves at the end of the fiscal year (June 30) were $2,250K, an increase of $54K (2.5%) compared with last fiscal year’s balance, despite the large outlay for repairs and restoration of church pews and floor, which is a very positive trend. Annual Average Cash reserves for the past five fiscal years is $2.1M, which covers approximately 12 months of operating expenses.
Financial Results as of August 31, 2022: Total Net Assets increased by $191K for the current fiscal year which began July 1, 2022. The increase was largely due to a $140K payment from the Employee Retention Tax Credit, a Federal program designed to keep employees on the payroll during COVID. This payment had not been included in the current year’s budget. Total Expenses YTD through August were better than Budget across most categories except Utilities and Maintenance & Repairs. Weekend Collections are tracking Budget, in line with last year Budget.
Christ Mission Appeal (CMA) for 2021 ended August 31, and we missed the target assigned by the Diocese by approximately $28K (~12%). Despite having our total pledges matching last year’s levels we missed our target by ~$28,000. The 15% increase in our CMA assessment was simply too much to overcome. This is the first time Blessed Sacrament has missed the target since 1995. The shortfall will be funded by the Parish. Our new 2022 CMA target is $250,375, an increase of 5.9% over last year’s target. Kick-off is planned for next weekend and parishioners should be receiving their pledge cards in the mail.
- Church carpet installation was completed September 2022. Cost $107K
- Church mail entrance pavers and staining. Cost ~$19K
Work in process
- Parish west entrance – we have pitting and flaking issues with concrete poured in May 2020. Working with Sugar Construction on full replacement.
- Assessment of south building (former school), gym and social hall heating equipment
Project scope was approved by Fr. Rob and Asset Sub Team; completed by Eckert Wordell on August 30, 2022
Joe Dostal (team lead) reviewed existing equipment and operating condition, and distribution of piping throughout the complex; former school building classroom heating units and hot water piping are beyond original life expectancy
More immediate issue is to install shut-off valves to the former school building. Cost $10 – $15K.
Discussed several options for heating/cooling former school building. Range from $50K to $400K. Although no immediate action is required, the review provides useful information for planning purposes. Further analysis will require dialog covering potential building investments, such as roof replacement, restrooms, etc., in conjunction with future plans for building usage.
- Upgraded the alarm system in the church and parish center. Monitoring is being provided by Veteran’s Alarm
Roundtable: No additional comments.
The meeting adjourned at 8:00 p.m.