Annual Financial Report

Saints Simon and Jude Finance Council - FY 2021

Annual Letter to the Parish Saints Simon and Jude is a vibrant parish with over 50 active ministries. There is certainly an abundance of opportunity on which to get involved in both spiritual growth and service in supporting both the parish and the surrounding community. One recent example was the celebration of our parish’s 60th Anniversary, where Mass was celebrated, donations to charities made, along with many activities for family and friends. Together, our Parish makes a difference. Every year the Finance Council has the obligation of writing to you on the financial health of the Parish. Bottom line, the Parish was able to close the fiscal year in a positive financial position primarily due to two pieces of extraordinary income (more below). As you will see in this report, the Parish achieved a net operating surplus of $437,033, up from $352,270 in FY 2020, though down from the pre-pandemic level of $644,410 in FY 2019. More specifically, the Church and School realized financial operating deficits or $135,769 and $79,597 respectively. The losses were offset by the Federal Payroll Protection Program (PPP) grants of $443,599 and $208,800 and funds negotiated related to the pipeline project. It is important to note that the Parish will not have the benefit of these two extraordinary funding sources in the current fiscal year, which began July 2021. The decrease in Sunday Mass attendance along with the resulting decrease in Offertory collections are having a significant impact. For the last 18 months, collection income had generally been running in the $25,000 to $30,000 range while pre-pandemic levels averaged in the $30,000 to $35,000 range. Certainly, in part, this continued to be driven by the pandemic and remote Mass attendance, although we are beginning to see an uptick in electronic giving (easy to implement instructions are on the SSJ website). Please know we deeply respect there may be an abundance of financial matters that many might still be facing, so we thank you for your continued financial support. Listed below is an abbreviated list of activities that the Parish has undertaken to continue operations in our wonderful Church and School. We remain cautiously optimistic that our finances will rebound in FY-22, and will continue to provide prudent advice and guidance as we move forward this year. As members of the Finance Council, we continue to make respectful recommendations to Fr. Gerlach on the use of Parish financial resources. Here are highlights on Church and School activities of recent:  Church: o Live Mass attendance returned and Simulcast-Live remains in place. o “Nothing Compares to Being There” message launched by the Archdiocese, encouraging all to safely return to live Mass. Fiscal Year 2022 looks to be a transitional year with the Parish, striving to restore Mass attendance and Offertory collections to pre-pandemic levels. o More communications forthcoming, encouraging on-line giving. o No significant parish projects are on the immediate horizon, although regular maintenance continues.  School: o Live in-classroom education resumed with masks. o With the additional guidance from the Archdiocese through their School Planning and Assistance Team, rigorous planning continues towards increasing grade school enrollment and corresponding improvements in the school financial position, notably the reduction in the level of parish subsidy. o Increase in Staff to provide housekeeping, sanitation, safety, and other health safety guidelines. I am grateful to the members of the Finance Council for their dedication, expertise, and advice offered for the benefit of the Parish. On behalf of the entire Finance Council, we thank you in advance for your continued generous financial commitments! Your contributions and active participation enables the many wonderful activities to take place at Saints Simon and Jude Parish! Respectfully, Mike Bray for the Finance Council. Members: Rev. Michael J. Gerlach, Sr. Regina Elinich, IHM, Kathy Breslin, Suzanne Burke, Ralph Celidonio, Gene Cleary, Annette Glaudel, and Ray Mazza

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