CHURCH OF SAINT AUGUSTINE
Fiscal 2010 Annual Report
December 2010
Pastor’s Letter
Dear Parishioners:
It is time to report on the St. Augustine’s finances for fiscal 2010. While the general economic
malaise persists, our concerted efforts at St. Augustine’s have enabled us to finish the year with a small
surplus and remain financially sound. I give many thanks to all who contributed to these results.
However, some trends noted in last year’s report, namely declining weekly Mass attendance and
collections, continue to concern me. The figures on the reverse side detail the financial results of St.
Augustine’s Parish for the fiscal year ended August 31, 2009. Below are some thoughts on the year’s
results.
Total Operating Revenues increased modestly, up 2.1%, in 2010, after having declined in each
of the previous three fiscal years. The increase was primarily due to additional Rental Income, up
$29,155, resulting from the renegotiated lease for the use of our school buildings. Future contractual
rent increases will be tied to inflation and will be more modest. On the negative side, Regular
Collections were down $5,769 and Investment Income declined $9,275. If not for the particularly
strong Christmas 2009 collection, yearly collections would have been down more significantly. The
diminished collections are reflective of economic conditions as well as declining average weekend
Mass attendance, down 5.5% from 2009. The decline in Investment Income occurred as we spent
more than $3.5 million toward substantial capital improvements to our buildings over the past several
years. This source of income will not return to its previous levels as the reserves are no longer
available to generate investment income.
While we continue to manage expenses carefully, the significant cost of paving our parking
lots, which is captured in Improvement Projects and should last ten years, skewed the yearly
comparisons. Total Expenses increased $22,880, or 2.4% from 2009. Excluding the Improvements
Project line, Total Expenses would have declined 1.3% for the year. Lower utility bills and reduced
maintenance charges can be attributed to the significant capital improvements made over the past few
years. A reduced Church Assessment, which is the contribution to the Archdiocese related to our
annual collections, also declined. While we will continue our efforts to improve efficiency and reduce
costs where appropriate in 2011, it is likely expenses will increase in the year ahead.
As a consequence of the factors mentioned above, the Parish reported a Net Surplus for 2010 of
$37,855. That’s the good news. Looking ahead, it is imperative to reverse the trends of declining
attendance – a national phenomenon – and to encourage greater generosity on the part of those who
regularly attend Mass. Voluntary contributions on the part of practicing Catholics through weekly
collections and Parish Pay are the lifeblood of the Church. We are very fortunate at St. Augustine’s.
With your continued help and support, we will continue to share our good fortune with those in our
own parish as well as our counterparts throughout the world.
Gratefully Yours in Christ,
Monsignor Thomas R. Kelly
Pastor
If, after reviewing this document, you would like more detailed financial information, please contact me or a member of the
Parish Finance Council listed below.
Jerry Baum
Kevin Fitzgerald
Paul Hickey
John McGarr
Carla Volpe Porter
Gregory Randolph
John Rote
CHURCH OF SAINT AUGUSTINE
Financial Results Fiscal Years Ending August 31,
2010
Revenues
Regular Collections
Rental Income
Investment Income
Other Income
Extraordinary Donations
Total Revenues
Expenses
Salaries/Benefits
House/Living Expense
Utilities/Insurance
Repairs/ Maintenance
Religious Education Subsidy
Parish Ministries
Church
Administrative
Church Assessment
Subtotal
Improvement Projects*
Total Expenses
Surplus/(Deficit)
* paving in 2010, boilers in 2008
2009
2008
$548,254
402,950
17,048
36,463
10,389
$1,015,104
$554,023
373,795
26,323
31,245
8,950
$994,336
$613,340
307,417
88,806
31,773
30,431
$1,071,767
$394,137
35,457
174,767
87,357
81,647
10,473
41,697
32,400
68,426
$926,361
53,000
$979,361
$387,281
38,431
183,849
85,526
84,141
9,899
36,351
32,357
81,146
$938,981
17,500
$956,481
$389,160
32,353
194,045
126,689
81,774
27,417
44,650
49,104
78,584
$1,023,766
181,111
$1,204,877
$35,743
$37,855
($133,110)