Parish Finance Council Updates



November 26, 2024

• Envelope donations down 13% in October. YTD income lower than budget.
• 3 Year projections distributed.
• Natural Gas expense was low in October due to new boiler and higher than expected temperatures.
• School security enhancements were discussed. Door #5 should be a separate and secured entrance for the school. School entrance should only be done through this door for safety and security. The current school offices are separated from the rest of the school and need to be relocated.
• Will plan to rezone the remaining part of Ryan Field once the current sale is complete. We can then proceed with selling it.
• No December meeting due to busy Christmas schedules.

October 24, 2024

• Envelope income lower than expected for the last two months. Down to 5 months mortgage reserve payments. Not sure why but may be due to preelection concerns.
• Final boiler inspection should be on October 28.
• 7 school sinks will get automatic shut offs. Total cost will be a maximum of $10.5K, half of which has been received from a donation.
• Mortgage renewal will be discussed in the coming months. Hope to have the Ryan Field proceeds to apply to the balance.
• Ryan Field sale is still moving forward.
• 2025 Fund A Need was discussed

September 26, 2024

•  Current mortgage balance is $2.5M.
•  Repairs and Maintenance were high due to summer projects (painting, carpet cleaning and faucet/toilet replacement)
•  Controllers for the new boiler to be activated soon. We have sufficient funds to pay for the complete project.
•  Additional security camera, paid for by the Women's Club, has been installed.
•  Sale of Ryan Field is progressing.
•  Current mortgage will be refinanced in March. Options were discussed.
•  New Hymnals have arrived and will be first used on October 20.
•  Annual report will be mailed out to the parish soon.

August 29, 2024

• Fiscal Year 24 Operating Income was lower than budget. Total Expenses were Higher than budget.
• Overall, FY 2024 was a good year.
• Boiler installation invoice has been paid. Abatement and a new Controller have not yet been paid.
• New Toilets on the Ground floor have been installed. Costs were split between the church and school.
• School has installed 6 room air conditioners and upgraded the room used by the 2 year olds.
• New school lease has been signed.
• Tree in Ryan Field fell and destroyed the retaining wall bleachers and fencing. Repairs have been completed.
• Sale of Ryan Field has been delayed.
• New hymnal funding has exceeded the goal.

June 27, 2024

• Cash Balance and collections are both strong.
• Year-to-date financial results were reviewed. Results are very close to budget.
• The New Boiler Project is proceeding according to plan. Work will start next week on the demolition of the old boiler. Installation will proceed as soon as this is done.

• Future projects that are being considered based on funding availability:
  

A.  Replacing school bathroom faucets with automatic shutoff faucets

B.  Replacing the school's remaining older toilets with new water efficient ones

C.  Men's Club Garage replacement.

D.  Replacing the fencing and exterior wall on playground

E.  New Hymnals for the church

Projects A & B were approved for completion. Project C is waiting on architect and city approval. Projects D & E will be delayed pending funding availability.

• Update on sale of Ryan Field was given.
• The 2024-2025 Budget was reviewed and approved.

May 23, 2024

• Reviewed April Financial Reports. Sunday Envelope giving is strong. Computer Hardware expense is high due to replacing two computers. Water bill is high due to leaky toilets and sinks.
• Net Income is close to budget.
• LED lighting update is now completed.
• Gardeners are doing a great job making our grounds look fantastic.
• Boilers have been turned off for the season.
• Mortgage will be refinanced next year. Currently discussing our options going forward.
• Net Zero Carbon Study was reviewed and options going forward were discussed.
• Reviewed plans for Men's Club Garage, replacing Hymnals, Ryan Field and Boiler project.
• Discussed moving all the plaques out of Founders Room and into Brioschi Hall to give more visibility. Will be discussed with Parish Council and parish staff.

April 25, 2024

• Budget for next fiscal year has been started.
• Operating expenses are at budget for YTD.
• New boiler will lead to lower maintenance costs next year.
• Spring Family Fiesta was a success.
• Ryan Field purchaser is progressing with Due Diligence.
• Fund-A-Need donations are getting close to completion.
• A consulting company for the Net Zero Grant to reduce our carbon footprint will get us a report to review.

March 21, 2024

• The parish is maintaining a good cash balance. Expenses are very close to budgeted amounts.
• Year-to-date financial results are good and close to budget.
• Hot water problem in Brioschi Hall kitchen has been corrected.
• Discussion was held about the need to replace the boiler now instead of waiting. The Energy Engineer that reviewed our current installation suggested we proceed now. The risk of a failure is high enough that a new system does need to be purchased and installed.
• Replacement Boiler project bids were reviewed and discussed. One bid was selected. We can proceed once the 2024 Fund-A-Need Fundraiser is successful.
• Ryan Field Update: The interested buyer has started their due diligence on the field. This process will take until the fall.

November 28, 2023

• Fiscal Year end audit was presented by the auditor. There was some concern about the amount of our long term debt, but otherwise, the audit was a success.
• October financial reports were reviewed. Expenses are close to last year. 
• The Annual report to the parish is in the mail along with pledge cards for 2024.
• A generous donation was received to be applied directly to the mortgage principal
• Long-range building maintenance plan was distributed to the committee.
• Hot water issues are being worked on and should be resolved soon.
• A bid was received for the replacement boiler. This bid was for several smaller boilers instead of one large one. This will make it significantly more efficient.
• The Fund-A-Need for 2024 was discussed which will be to complete the fundraising for the new boilers.

October 20, 2023

• Fiscal Year 23 audit is in progress and will be presented next month.
• Reviewed August and September financial reports. Income was lower than expected. However, the fall festival income was good.
• A suggestion was made to put the cash reserve for the new boiler into a 6-month CD to earn more interest.
• Overall expenses were reasonable
• Snow removal contract has been signed.
• LED conversion of light fixtures is complete in the lower level and first floor except the school cafeteria which will be done this summer
• The 'For Sale' sign for Ryan Field is to be upgraded to a double sided sign so it is visible from both directions on White Bear.
• Discussion on the handicap entrance to the church. It is underutilized due to the location of the button to open the door. Increased signage will be added.

August 24, 2023

• Audit fieldwork will begin on Sept. 5
• Reviewed Year end financial reports and July financial reports
• Year end results showed income was down by $45K and Expenses were up by $18K.
• July financial results were positive and showed a good start to the new fiscal year.
• New energy control system, thanks to the Men's Club, has resulted in improved climate control in lower level offices, sacristy and chapel.
• All flood related improvements are complete
• Additional security cameras were installed thanks to the Women's Club
• Pothole patching in the upper parking lot will be complete before school starts.
• Plan to apply for a Star Grant from the city to repair the Conway playground retaining wall.
• Sales listing agreement for Ryan Field was extended for another year.
• New three year lease agreement with the school is being negotiated.

May 25, 2023

• Reviewed April Financial Reports: income was strong but is still lagging for the fiscal year
• Balance Sheet still shows good cash reserves
• Current Fund-A-Need (Boiler Replacement) balance is $69,000—great response so far
• Repairs to the building from the recent water damage should be complete is 2 weeks
• No major repair/replacement projects planned for this summer. Potholes in the parking lot will be filled.
• Ash trees along White Bear had to be removed
• The Rain Garden project is complete. Trees have been planted.
• No updated information on selling Ryan Field
• Additional building security enhancements are planned
• Budget for next year was discussed
• Membership for next year was reviewed

April 27, 2023

• March income from envelope collections were down compared to budget and from last year at this time.
• Overall operating expenses are higher than budget and last year but are being monitored closely
• YTD Snow Removal is much higher than budget due to our record snowfalls
• Parking Lot cleanup and repair was discussed
• Status of repairs from the Water leak damage was reviewed
• Results from the Fund-A-Need and Friends and Family event were reviewed
• 2023-2024 preliminary budget was reviewed
• Recruiting for new members for Finance Council and Parish Council will be after Masses on April 29 & 30

March 23, 2023

• February Income was lower than budget
• Cash reserves are still strong
• Utility costs are high but close to budget. Snow Removal is much higher than budget
• Next year's budget is being prepared
• We took a tour of the building to see the water damage and ongoing repairs. There was extensive damage but insurance will cover most of it.
• Plan is to upgrade both bathrooms to modern facilities (toilets first, then sinks). This will lower the chance of this happening again and make them more user friendly
• Friends and Family Event and the Boiler replacement Fund-A-Need were reviewed.
• Composting program will start soon. This will lower trash removal costs and be good for the environment.
• Recruiting for new members for Finance Council and Parish Council will be in April and May

February 23, 2023

• The financial Balance Sheet
• Profit and Loss statement for January 2023; we have decreased the amount of deficit in budgeted income for the fiscal year as compared to December 2022
• Continued the review of the Finance Council Constitution and Bylaws
• Building Maintenance - no major repairs or issues
• The replacement of the broken window, now boarded with plywood, at Door 3 will take place when the weather grows warmer; the broken window was accidentally caused by our snow removal company during work after a snowstorm
• A decision was made about a maintenance project to fund in the 2023 Friends and Family Event, and an announcement will be made soon to the parish about the project
• No activity so far on the selling of Ryan Field

December 22, 2022

• The financial Balance Sheet
• Profit and Loss statement. Results were good for November. However, increased Gas and Electric costs are significant.
• Building Maintenance issues in the Parish. Increased costs due to a car accident which knocked out power to the building.
• Plan to explore expanding the composting program
• No activity so far on the selling of Ryan Field

November 17, 2022

• St. Pascal's financial Balance Sheet
• 4 Additional "Principal Only" donations of $36,184 were received and applied to the mortgage
• Profit and Loss statement from October
• Building Maintenance issues in the Parish and School buildings
• Ryan Field is now on the market
• Stewardship Report for 2021-2022 Fiscal year is in the mail

October 27, 2022

• The Parish financial status as of the end of September
• The current mortgage balance
• Parish maintenance status and upcoming projects
• The Sale of Ryan Field
• Fall Festival results