Finance Updates
Financial Report 2024
| Income | 2023-24 Budget | 2023-24 Actual | 2024-25 Budget | |
| General Operations (Sunday Offering, Votives, Sacraments, ETC.) | $1,068,100 | $1,008,124 | $1,115,100 | |
| Festival Income (September 2023) | $39,500 | $44,047 | $43,000 | |
| Building Income (Holy Spirit Academy) | $30,000 | $26,497 | $30,000 | |
| Music & Liturgy | $4,800 | $25,053 | $5,500 | |
| Faith Formation | $24,000 | $30,980 | $24,000 | |
| Youth Ministry | $18,500 | $31,020 | $22,065 | |
| Adult Formation | $200 | $3,718 | $5,600 | |
| Misc. Income (Thanksgiving Fund, Gardens, Sharing Tree, ETC.) | $6,000 | $24,174 | $16,600 | |
| Total Income | $1,191,100 | $1,193,613 | $1,261,865 | |
| Expense | ||||
| Salaries & Benefits | $498,960 | $425,944 | $442,986 | |
| General Operations | $242,525 | $291,688 | $235,083 | |
| Archdiocesan Assessment | $95,477 | $95,477 | $112,000 | |
| Building (Utilities, Maintenance & Repairs) | $117,400 | $118,940 | $123,900 | |
| Rectory Building | $0 | $26,288 | $41,551 | |
| Faith Formation | $34,850 | $29,009 | $34,450 | |
| Youth Ministry | $27,320 | $35,807 | $31,300 | |
| Music & Liturgy | $34,200 | $29,582 | $33,900 | |
| Adult Faith Formation & OCIA | $9,500 | $12,416 | $14,650 | |
| Festival Expenses (September 2023) | $21,300 | $22,271 | $22,000 | |
| Other Expenses (Thanksgiving fund, Sharing Tree, ETC.) | $7,100 | $23,340 | $20,500 | |
| Total Expenses | $1,088,632 | $1,110,761 | $1,112,320 | |
| Net Gain (Total Income - Total Expenses) | $102,468 | $82,851 | $149,545 | |
| Depreciation Addback | $20,500 | $26,813 | $39,804 | |
| Regular Principal Payments of Church Mortgage | ($127,704) | ($127,704) | ($131,584) | * |
| Regular Principal Payments on Rectory Loan | $0 | ($3,564) | ($7,529) | * |
| Net Cash (Sum of Above 3 Lines) | ($4,736) | ($21,603) | $50,237 | |
| Rectory Improvement Project Income | $0 | $123,098 | $0 | |
| Building Maintenance Fund Income | $70,000 | $116,380 | $110,000 | |
| Accelerated Debt Reduction Income | $175,000 | $145,100 | $140,000 | |
| *Minimum Principal Payments Required | ||||
| Cemetery Opertating income | ||||
| Interment fees, investment income, marker permit fees, mics. income, perpetual care fees and sales of burial easements | $27,201 | |||
| Cemetery Operating Expenses | ||||
| Capital improvements, equipment, grounds keeping, interments, refuse removal, repairs, maintenance, utilities | $24,681 | |||
| Cemetery Net Operating Income (Loss) | $2,521 |
The Annual Parish Financial Report was mailed out 10/2024.
Click here for Annual Parish Financial Report
Rectory Update 1/17/2024
Finance Update 2/4/2022
As of February 4th mortgage payment, our principal balance will be below $2 Million dollars!
January 17, we made a down payment on our shingles for our new roof out of our Building Maintenanc Fund.
Building Maintenance Fund Update 10/10/21
The remaining project of the initial three is our roof. Braun Intertec has been hired for roof assessment, project management and reporting, as well as Construction observations. At this time, the project is out to contractors to bid the work to start next spring. This fiscal year we have added an additional $98,339 to our Building Maintenance Fund which brings us much closer to reaching the cost to replace the roof and a balance of over $273,922 as of June 30, 2021.
Click here to view our Parish Financial Report for fiscal year 2021.
Small loan Loan Payoff! 8/19/21
On June 1st of 2017 the Church of Saint Henry refinanced its mortgage with Farmers State Bank of Hamel. One of the many blessings from this transaction was the creation of two notes and mortgages with matching terms. At the time, most loans over $2.5 million would have been classified as a “Jumbo” loan, and there would have been extra parameters involved with this type of loan. The loan officers at Farmers State Bank decided to split our $3,183,679.70 debt into a $2.5 million dollar note and a $683,679.70 note. The Accelerated Debt Reduction, and previous “All for the Glory of God Capital Campaign”, payments had been made directly to the smaller note above and beyond the amortized or monthly payments. We wish to share with you that the final payment of the $683,679.70 note has been made!! Our new amortized or monthly mortgage payment has now dropped from $19,820.10 to $15,563.83. Our Finance Committee will work to determine where to apply the $4,256.27 that we will free up each month. The current balance remaining on the $2.5 million dollar note is $2.14 million. Thank you so much for your amazing, prayerful support!!
6/12/20
Wondering how we are doing financially? WE ARE TRULY BLESSED! Thank you for your continued support of our parish and furthering the work of the Kingdom in our community. Our finances at the end of February 2020 were fantastic. Father Tony believed they might have been the best he could remember. Our General Operations income was above last year’s numbers and right on budget while the Building Maintenance and Accelerated Debt Reduction incomes were ahead of budget. Your stewardship allowed us to charge into very uncertain times with GREAT HOPE! The current financial overview as of the end of May 2020 is still amazing. We are at 99.5% of last year’s General Operations income and only 5% below budget. This is truly wonderful as our expenses have also decreased. The Building Maintenance and Accelerated Debt Reduction incomes are still holding strong as well through the end of May. THANK YOU AGAIN!
Dan Dupay