Immaculate Conception Parish Annual Financial Report
Fiscal Year 2018-2019 July 1, 2018 thru June 30, 2019
We are pleased to share financial information for our parish for the fiscal year that ended June 30, 2019, and note the following:
FY 2018-2019 saw much change at Immaculate Conception Parish. In June, we learned that the Capuchin Friars would no longer be serving our Parish, and we would be served by Diocesan priests. As the school year ended, we saw the need to hire a new Principal and 3 teachers. All are now in place and we have balanced budgets for the next fiscal year.
Our revenue was slightly above budget (2%) primarily due to unrestricted donations and bequests. In May, we received a bequest from former parishioner James Ulcher totaling $65,712. Operating expenses were also over budget due to the shortfall in the Priests Retirement and DSA collections. We ended the fiscal year at $10,000 over budget. Improvements to our main sanctuary included new LED llights and upgraded sound system.
Immaculata School on the other hand, ended the fiscal year under budget by $41,394 primarily due to parishioners' donations from our Immaculata Sunday special collection. In May 2019, we received a bequest of $52,500 from former parishioners Dick and Win Hunt. We also want to give a special "thank you" to all who helped make Malachi's Playground a reality.
Our Capital Campaign continues to grow. In May we received a very generous $250,000 challenge pledge from an anonymous donor. This gives us a total of $1,868,688 in pledges to date, with payments received of $728,492. Thank you all for your support.
Thank you again for all that you continue to do for your parish.
Finance Council Chairman