Each year we begin to pull together numbers for the new parish budget which will be approved by the Parish Community Council to become effective on July 1, the first day of the new fiscal year. Staff members and committee chairs are asked to present their needs for the coming fiscal year—July to June—and the Finance Committee tries to match that total against foreseeable income. That can be a tough job.
Each year St. Cecilia's contributes 3% of its annual weekend income to charitable causes outside of the parish. This is a written policy and part of the annual parish budget. Roughly half of that amount pays for the six dinners we serve at the Dorothy Day Center each year. The rest goes to nearby Catholic schools, Keystone food shelves and various causes in the city. One year we bought a refrigerator for a small food shelf so they could begin to handle fresh meat and vegetables.
Dorothy Day Dinners:
Six times each year, St. Cecilia's Parish feeds 250 people at the Catholic Charities Dorothy Day Center in downtown St. Paul. Ten to fifteen of our parishioners buy, cook and serve a complete dinner, at an approximate cost of $860 per evening or $5,160 per year. That amount is part of our annual budget, and part of our contribution to the welfare of our larger community.
St. Cecilia's borrowed $1.5 million in 2002 in order to build “the Link” and remodel the existing house and church building. Our monthly payment to the bank is approximately $1,600 or $20,000 per year, including principal and interest. Money to make these payments comes from our regular weekend collections and is a big part of our annual budget. In some years, special year-end gifts to the parish enable us to make additional principal payments.
The Light Bill
The cost of heat, light and water is a significant item in our parish budget. In a typical year, we spend approximately $12,000 on utilities.
Liturgy is also a significant part of our parish budget. We spent about $8,000 for candles, wine & hosts, extra musicians, new music and piano tuning—all this in addition to more than $2,000 in extra contributions for Christmas and Easter flowers—all of it money well spent.
Each year we are assessed an amount determined by the Archdiocese based on approximately 9% of our collected revenues, which is paid in quarterly installments. This is part of our contribution to our larger community, from Catholic Charities to the operation of the Archdiocesan offices. The Archdiocese provides many important services to the parish, including participation in employee benefit and pension programs, liability insurance coverage and training programs. Remember that 90+% of our parish income stays in the parish.
Payroll and benefits form a bit over two-thirds of the parish expense budget. We regularly review our staff salaries against outside salary services to maintain fair wages within the constraints of our small size and budget. We also provide parish funding for a portion of employee healthcare and access to retirement plans.
Maintenance of our building and grounds is a significant piece of the annual parish budget. Property and liability insurance costs about $10,000 per year; rubbish and snow removal, lawn care, elevator and furnace maintenance, municipal street assessments, etc., etc. add another $15,000. And this does not include the cost of electricity, gas, and water described here, nor does it include major repair/improvement projects that are becoming increasingly necessary.
The Income Side
Our revenues are primarily driven by weekly envelope and plate contributions. An increasing number of our parishioners take advantage of ACH withdrawals, which provide significant benefits to the parish in terms of consistency of cash flow and reduced costs of administration. In addition, we host various parish fundraising events, including Oktoberfest and the Annual Parish Dinner. Our revenue goals and progress against the goal are reported in the weekly bulletin. For the year, we need about $400,000 in contributions to maintain a balanced budget.
Summary of Financial Information
The Church of St. Cecilia encourages its parishioners to take advantage of the option to debit their checking or saving accounts each month for their regular contribution to the operating budget of the church. An additional contribution can be likewise made to the building fund by direct deposit. To accomplish this, please complete the Direct Deposit Forms and return to the Parish Office at 2357 Bayless Place, St. Paul, MN 55114.
Click here to print the Direct Deposit Form for regular donations.
Click hereto print the Direct Deposit Form for the building fund.
Electronic Funds Transfer
Most banking institutions have a process by which you can authorize them to issue a check to St. Cecilia or in some cases an electronic funds transfer to St. Cecilia's operating account. You should make contact with your bank if you wish to do this. You can contact Linda Whiteneck at 651.644.4502 to obtain the bank routing number and account number for the appropriate St. Cecilia account to do the electronic funds transfer.
We welcome gifts of stock. St. Cecilia has an account with UBS Financial Services to accept your stock gift transfer electronically. To make a gift of stock please call our parish office for assistance. St. Cecilia’s will acknowledge reception of the gift by letter, but we are not able/allowed to determine or assign a cash value to the donor’s gift. Our broker will assist in determining the approximate market value of the gift for the donor’s records at the time that the stock is actually exchanged.
Finance Committee Minutes