Notes to financial statements:
1. In November 2022, the parish sold our Beaver Bank property and realized net proceeds from the sale of $937,633.33. These funds have been placed on deposit with the Archdiocese and will not be used to fund operations. However, the interest generated will be used and is included in our 2023 budget under revenue.
2. Also included in interest was an amount from the proceeds of the sale of our Mt. Uniacke property which happened in January 2023, also placed on deposit with the Archdiocese.
3. Due to our financial need emerging out of the pandemic, the Archdiocese has provided financial assistance over a three year period until we can re-attain financial stability. Those amounts are $65,000 in 2022, $30,000 in 2023 and $15,000 in 2024
4. We are budgeting both an increase in revenue and an increase in expenses with more returning to in-person Mass and meetings, and an increase in the church building usage
The Finance Council would like to encourage all parishioners to attend our financial review presentation to the parish on Sunday, March 19, at 3PM in the church
