Benchmarks of a Healthy Parish: The Parish Budget

Every year, in consultation with the parish Finance Committee a balanced Budget is prepared for our use and to submit to the Diocese. All aspects of the parish are looked at with a proper allocation of funding as needed for the smooth operation of the parish. A budget is to provide us with an alignment of both the Income and Expenses. Several weeks ago, we published, here in the Bulletin, an End of the Year Report to give you the final report of how close we stayed within our Budget. This year we report more Income than Expenses…Praise God!
The purpose of the Parish Budget is to provide me, all of you, and the Finance Committee, with accurate information regarding our needs for the continued stability of the parish. The process also involves consultation with the Parish Pastoral Council, staff, and ministries that need funding. A responsibility of our Finance Committee is to keep accurate Minutes of any Budget discussions and decisions. Besides providing an End of the Year Report to the parish, I submit a similar report to the Diocesan Financial Office.
Parish Warning Signs that this Budget is not being met include:
1. No Written Financial Budget
2. Budget is either not balanced or not realistic.
3. No (or little) involvement by the Finance Committee in review of Budget.
4. There are significant deviations from the Budget without consultation from the Finance Committee.
5. Budget is not monitored by the Pastor and Accounting Personnel.
{None of these Warning Signs are present in our Parish] It is with a great sense of joy that this important Benchmark is a healthy sign that we are doing good in regards to balancing our needs with our Income.
Thank you for your continued generosity.