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annual parish report 2010  (PDF)

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Queen of the Apostles Annual Financial Report

August 28-29, 2010 

Thank you for selecting Queen of Apostles Church for your faith community. We are a dynamic, diverse and growing parish that is steadily attracting new families, adding programs and increasing our community involvement through our weekly tithe of 5 percent of offertory to a variety of agencies that assist the sick, poor and needy.

All of this takes time and money and we are blessed by your generous stewardship. Father Frank Cancro and Director of Music and Liturgy Chrissy Glisson bring vitality and spiritual direction to our worship, while a dedicated staff supports our mission and fellowship and maintains our facilities. Yet without your commitment as volunteers and your financial support our church could not function. Here is a summary of our growth in families and weekly offertory over the past three years:

From July 2007 to June 2010 (we operate on a fiscal year that ends June 30), our parish grew from 545 families to 751 families, an increase of 206 families or 38 percent. During that same period our average weekly offertory grew from $6900 to $10425, an increase of $3525 or 51 percent.  To remain financially stable and support our church programs, income must increase proportionally to our growth in families. While we have done that over time, the chart above shows that we did not meet that goal in last year’s difficult economy.

Last year our parish generated almost $595,000 in income (3 percent above budget) and spent $547,500 (4 percent below budget) on normal operations, giving us a surplus of $47,500. But we also invested more than $92,000 to improve the parking lot and remove the St. Benedicts Building which was beyond repair. The difference came from savings, which on June 30, 2010, stood at $343,000.

This year’s budget of $596,725 in income anticipates a 3 percent increase in offertory to $10,750 a week, but fewer large donations than last year. Expenses will increase 9 percent to $600,600, resulting in a $3,821 deficit for the year. The table on the last page of this report identifies how we collect and spend our funds. The largest increases in expenses this year will come in salaries, reflecting higher medical costs and longer hours by staff to meet the expanded needs of the parish, and in school subsidies as more of our children attend Catholic schools in the region. Additionally, we will again draw down savings by $69,000 to put a new roof on the MAK Center, make other improvements and upgrade lighting in the parking areas.

In addition to our weekly offertory, parish members gave nearly $27,000 last year to various Diocesan campaigns such as missions, priest and religious retirement and seminaries, and 196 families gave a total of $44,760 to the annual Diocesan Support Appeal (DSA). This year’s DSA assessment is $56,175. The parish is obligated to fulfill this assessment. To date, 213 families have pledged $51,600 leaving us with a shortfall of $4,575 which must come from our general fund if our goal is not meet.

                You continue to show your generosity by supporting monthly donations to local food shelves and homeless shelters, and by our 5 percent tithe, to donate $22,210 last year to various community programs. This is a true display of Christian stewardship that is much needed during these most difficult economic conditions.

FINANCIAL POSITION-FISCAL YEAR-END JUNE 30

As we go into the new church year with the uncertain economic conditions it will be a challenge for all of us to be able to meet our financial goals. Together as a faith community, Queen of the Apostle Church will be able to meet those challenges through your continued stewardship, generous financial support and prayers.

                 Please feel free to contact any member of the Finance Council if you have any questions pertaining to the finances.

 Jack H. Morris, Chairman                    704-829-7557                      jackhmorris@yahoo.com

Charlie Boyd                                                  704-825-4669                      cboyd98841@aol.com

Dave Charzewski                                        704-824-7198                      dlcharzewski@aol.com

Rick Houser                                                   704-824-4889                      Rick.Houser@fidelityBankNC.com

Elizabeth Hunnicutt                               704-825-3209                      jhunnicutt001@carolina.rr.com

James Sharik                                                 704-866-8171                      sharikj@bellsouth.net

Michael Vasko                                              704-825-0773                      mvasko@franklinamerican.com

Dorothy Wilson                                           704-475-0147                      dwilson@mercysc.org 

Income & Expenses for the Years Ended June 30

(Note: Please view the “Income & Expenses Budget Report” spreadsheet for Years 2008, 2009, 2010 and projections for 2011 in the PDF document or open the link for the Word Document, above)

 Note: Budget for 2011 does not include planned capital expenditures of $69,000.

Below are photos shot with Mark Colone’s camera phone.  He apologizes in advance for being too busy grilling hot dogs to remember to carry his digital camera with him!

Father Frank, Heidi and Steve Maskol and Jay Stone.

Olivia Colone just finished delivering sausages as she played waitress.

Robbie Dills, Nikae and Peter Liberatore, Justin and Vanessa Thompson.

The Kranzlers!

Team ID: Front from left: Cyril Aboy, Denise Summers, Nikki Liberatore, Lauren Liberatore, Sally Stone and Coach Jay Stone.  Back, from left: Nick Guida, Nick Suarez, Paul Summers, Noel Williams, Head Coach Peter Liberatore, Tony Citro, Robbie Dills and Mark Colone.  Missing: Austin Berrong and Coach Brandi Pressley.

Team ID: Front kneeling, from left: Paul Leonardis and Barbara Bapst.  Middle Row, from left:  Christina Barnhill, Head Coach Steve Maskol, Vanessa Thompson, Jo Leonardis and Justin Thompson.  Back, from left: Jena Barnhill, Billy Baucom, Shawn Saylors and Ryan Kranzler.  Missing: Ed Esslinger, Penny Ramsey and Bill Bridgeman.