Financial Update to Parishioners

Posted on June 05, 2020 in: From the Pastor

Financial Update to Parishioners

Dear St Max Kolbe Parishioners

Thank you very much for your continued generosity to our parish during these challenging times!  June is the last month of our current fiscal year and we wanted to provide some information on the current state of our financials, specifically where we stand with General Collections. 

General Collections are used for all manner of Parish Operating activities including salaries and benefits for Parish Office & Maintenance staff, utilities, maintenance needs and campus building upkeep, faith formation program expenses, insurance premiums, and our annual investment in St. Max Kolbe School (which has remained at the same dollar amount for over 15 years).  The chart below does not include any restricted donations, as those are recorded in a separate bank account and are not allowed to be used for general operating expenses.  Additionally, the School and Cemetery have separate income and expense budgets and are not included in the information contained below.

As you can see, overall for the year through May 31, 2020 we are trending very slightly above budget at +1%, but it truly has been the tale of two periods: pre-Covid19 and during the ongoing Covid19 shutdown/modified Mass schedule.  From July 2019 - February 2020 we were trending +12% above budget, but for the last 3 months (March, April, and May) we are down -21% from budgeted collections for this time period.

We thank you for your contributions of time, treasure, and talent over the past 11 months.  If you have any questions about our financials, please contact Russ Nolan at 763-972-2077 and he would be glad to talk with you.

St. Maximilian Kolbe General Collections                                                                       
Sunday Regular Envelopes, Automated Withdrawal Donations, and Plate Contributions

Time Period   Actual    Budget   %
July 1, 2019 - May 31, 2020  $698,418  $693,400  + 1% over
       Pre-COVID (July 2019 - Feb. 2020)  $516,010  $462,359  + 12% over
       COVID (March 2020 - May 2020)  $182,408  $231,041  - 21% under