September Financial Report

Dear Parishioners,
I’m so proud of our parish as we begin this adventure together.
St. Joan of Arc School is off and running. We were one of the first schools in the city to open our doors. None of that happens without the leadership of so many and the flexibility of our teachers.
I’m also proud of our Men’s Club. They’ve stepped up in a number of ways. There are two I’d like to highlight. First, they took quick action in helping with the tree clean up after the big windstorm on August 10th. Then, instead of cancelling the SausageFest they reworked it so that it would comply with the Covid restrictions. I’m imagining a long line of cars filing in to pick up food on September 10th.
Every month Dennis Smid creates a report for the Parish Council. Rather than provide weekly updates in the bulletin about Sunday giving, which are not always up to date because of the lag time it takes to print the bulletin, we thought it might be best these share monthly reports in the bulletin.

In Christ,
Fr. Lorig

July 2020 Financial Report
Summary – And off we go with a new fiscal year, one that will likely include surprises and uncertainty. It is pleasant to report that July was a better month than we expected when we prepared the budget, though this is due in large part to recognizing the remaining amount of the proceeds from the Paycheck Protection Program (PPP). July was also a good month for our investments. The following paragraphs provide additional detail.

Operating Results – Contributions tracked very closely to budget in July, though we see softness in our maintenance gifts. We recorded $49,074 from the PPP, which exhausts the loan amount. Excluding PPP our revenue was favorable to budget by $925.

Expenses were favorable to budget by $11,150, but we see a number of expense items that were delayed (e.g., charges for parish clustering, and property insurance). We were also able to prepare our facilities for school opening with lower maintenance costs than expected.

PPP and Other Grants – As noted above, we have consumed the entire amount of our PPP loan. We await instructions from FNBO to complete this program. We have applied to the State of Nebraska for two small grants (perhaps $500 – $1,000 total) to defray additional costs for COVID-related costs (sanitizer, cleaning materials, PPE, etc.) We were advised that our applications were accepted, but we do not know when the funds will arrive.

Cash and Investments – Our cash position improved in July due to our operating surplus of $21,046 and market growth/dividends on our investments in the amount of $54,804. (Reminder: markets do not always go up.)

Dennis Smid, Finance Committee Chair