Please refer to our Parish Directory for Contact information

The Parish Finance Council is a consultative body of lay persons established to advise the Pastor in matters pertaining to the financial affairs of the parish. The relationship between the Pastor and the council is one of support and collaboration. The authority of the Pastor is not diminished by the establishment of the Parish Finance Council.

It has been the consistent policy of the Diocese of Charlotte that a Parish Pastoral Council be established in each parish. While the two councils are separate and each has a different and specific role in the life and operation of the parish, they work together for the good of the parish. The chairperson of the Parish Finance Council is an ex-officio member of the Parish Pastoral Council and provides them with periodic reports on the financial status of the parish and its activities.

The Parish Finance Council is composed of the Pastor, as an ex-officio member, and not less than three reputable and practicing members of the parish knowledgeable and skilled in financial matters. Membership is by appointment of the Pastor. Members serve for a three-year term and may be appointed to a second three-year term. The Chairperson is appointed for a term of one year and may be reappointed.

The Business and Office Managers are not members of the Parish Finance Council, however they may attend meetings at the request of the Chairperson to assist the council in its deliberations.

Principal responsibilities of the Council include:

•  Preparation of an annual budget
•  Periodic review of the Diocesan bookkeeping and accounting system
•  Ensuring the submission of the Semi and Annual Financial Report to the Diocese
•  Preparation and publication of an Annual Financial Statement and Report provided to the Parish Pastoral Council and members of the Parish community.

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TO THE PARISHIONERS OF HOLY FAMILY PARISH

The report on page 2 compares cash flow from parish operations for the fiscal year ended June 30, 2007 and 2006.  The results for the year show that our operating cash/funds increased by $18,000.  There are several factors contributing to this increase.

Our offertory collections increased by $100,000. However, our operating expenses increased by only $50,000 including the payment of over $86,000 of interest on our first mortgage.  Our first mortgage payment is over $15,000 monthly.  All of the principal payments made in 2007 helped to reduce our $1.3 million mortgage by $96,000.

From a cash standpoint, we are in a stable financial position; we have experienced an increase in working capital for the first time in three years.  However, we need to continue to increase our revenue to achieve our financial goals for the fiscal year ending June 30, 2008.  As mentioned earlier, our mortgage through the Diocese for $1.3 million dollars on the new building has a monthly payment of $15,000 and the maximum term the Diocese allows is 10 years.

The finance council has approved a budget for fiscal year 2008 that indicates a slight surplus.  We continue to maintain expenses at a rate of increase that is in line with our anticipated increase in offertory collections.

Although our outlook is stable, I would once again ask that as a parish we prayerfully review our financial commitment to Holy Family.  I know that we all want to make our parish a successful Catholic community both spiritually and financially; through our prayerful consideration, we can achieve our goal.  We still have some remaining outstanding pledges from our capital campaign and commemorative/memorial campaign which we need to continue to collect.  Early payment of these amounts will help us to reduce our interest expense.  Your help in this would be greatly appreciated.

If anyone has a specific question about the parish finances, I will be glad to answer them for you.

T. Michael Borden
Finance Council Chairman

Parish Finances, continued... page 2