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Dear Parishioners,
Happy Anniversary! Of what you ask? Well we have together survived my first year as your Pastor here at SMOY. I hope it has been a good year for you! It has been for me….
One of the realizations I had in my first few months here is how good parish life is at St. Margaret of York. It’s a great atmosphere for raising kids and a loving community that reaches out. I am blessed, privileged and thankful to be your Pastor.
If you remember back a few weeks ago Steve Walsh, a member of our Finance Commission, presented a message at all of the Masses regarding the “state” of the parish’s finances….a copy of this presentation is available on the parish website or by calling or stopping by the parish office.
Please allow me to summarize in order to make a crucial point: while we are “almost” making it on the basis of our day-to-day expenditures, our construction debt remains at a very dangerous level. Based on our new budget for the 2009-2010 fiscal year (beginning July 1, 2009) our normal daily operating expenses will average out at $976.00 per household (including interest expense of nearly $300,000.00 and principle of $180,000.00 on the debt) for the year….our average household only contributed $735.00 for the 2008-2009 fiscal year (ending June 30, 2009)….so right there one can see somewhat of the problem we are faced with.
But to really top it off, let’s look at the construction debt we carry of $6,261,000.00….equaling $3,478.00 per household. The interest on the “mortgage” for last year was $290.00 per household. The Archdiocese allows us to pay $30,000.00 per month with half going to principal and half to interest…if you do the math you can figure that while the Archdiocese is being very kind and understanding regards our debt, we are not making much progress in reducing our principal and with the allowance we pay every month we are not actually covering all of the interest expense for the year….it is simply our hope, “keeping our fingers crossed,” that there will be enough left in the bank at the end of each year to make up the difference….we cannot continue to run our parish finances like this….we must come to terms with our debt.
Historically the interest difference has been paid by the end of June of each year….this year that amount totaled $293,000.00. We have had to draw our cash in the bank down to dangerous levels in order to meet this payment….our financial outlook for the next year does not seem to portend anything different.
Please know that our Finance Commission and the Parish Staff continue to seek ways to reduce our ordinary day-to-day expenses. We took a major step by not increasing salaries for both parish and school staff for the next fiscal year….there were no pay increases for anyone for the 2009-2010 fiscal year!
It is important for everyone to realize that the key to meeting our financial commitments is US….you and me, the parishioners of SMOY! While the finance folks and staff work to meet the ministerial needs of the parish community….it is us, the parishioners, who provide so much in the way of time, talent and treasure….I know times are tough….but we really need to step up in our efforts…..or our ability to provide ministry will be diminished.
I have faith that you will come through!
God Bless,
Fr. Jan
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