Diocese of Rochester

Our Financial Report for the 2024-2025 Fiscal Year (FY) that ended on June 30, 2025

To the parishioners of St. Martin de Porres,

My name is Peter Lent and I am a member of the Finance Council for the St. Martin de Porres Parish. At the Masses this weekend I will be presenting the Council’s Financial Report for the 2024-2025 Fiscal Year (FY) which ended on June 30, 2025.

There is a 2-page insert in this week’s Parish Bulletin that provides a summary of the Parish’s financial status at the end of the 2024-2025 FY and compares it with the financial status at the end of the previous 2023-2024 FY.

On Page 1 of the Insert is a Balance Sheet that lists value of our total Assets and Liabilities at the end of both Fiscal Years. Assets include both Current Assets (e.g. Bank Accounts) and Non-Current Assets (like our Investments, which can be both unrestricted (like our money in the Diocesan Communis Fund) and donor restricted (like the Stain Glass Window Fund for St. Mary’s).

Examples of Liabilities are: Accounts Payable, Employee Benefits (e.g. Pension Accrual), and Second Collection donations.

A review of the Balance Sheet shows:

- There was an increase in Parish Assets and a reduction in Liabilities in 2024-2025 FY compared to the previous FY. The assets increased due to gains in our investments.

- Our liabilities are not as much of a concern because nearly all are accounts payable, which are short-term in nature, and we have the funds to pay them. Also, our Parish holds no debt.

As a whole, the balance sheet reflects a parish in good financial health.

 Page 2 of the Insert is a Statement of Receipts and Expenditures. It includes a Table and 2 Pie Charts.

The Table includes information on the categories of Receipts and Expenditures related to normal operating activities for the Parish and compares these for both the Fiscal Years. In addition, the Table also compares Non-Operating Revenues and Expenses for both fiscal years. See Note * at the bottom of Page 2 that gives examples of what kind of revenues and expenses would be considered as Non-Operating.

The Pie Charts contain information from only the 2024-2025 FY.

One chart shows the relative contributions of various groups of revenue sources to the Total Operating Revenue, where the majority of revenue came from the Regular Collections category.

The other chart shows the relative contribution of various categories of expenses to the Total Operating Expense, where the majority of expenditures came from the Salaries/Benefits category.

The following was found when the Operating Revenues and the Operating Expenses for 2024-2025 FY was compared to the previous fiscal year.

Operating Revenue

- In 2024-2025 FY, the Regular Collections increased 11% over Regular Collections in the previous Fiscal Year. The Regular Collections category includes: at Mass Regular Collections, E-Giving Collections, General Maintenance Collections, and Holy Days Collections.

- With the exception of Easter, all categories within Regular Collections increased compared to the previous Fiscal Year.  Most notable was E-Giving collections that increased 15% and General Maintenance collections (Building & Grounds envelopes) that increased 114% (from $12,000 in the previous Fiscal Year to $ 26,000 in 2024-2025 FY.

Operating Expenditures

-  Compared to 2023-2024 FY, the 2024-2025 FY Operating Expenses had:

           - lower Total Operating Expenses due to lower expenses for Salaries/Benefits and Building & Maintenance.

           - All other Expenditure categories were higher than in previous year       

           - In terms of Budget details related to Building & Maintenance, the following line items were over budget by amount indicated: Utilities  budget $3,000; Snow Removal $ 1,000; and Building Repairs $  8,000.                     

Net Operating Surplus/Deficit is calculated by subtracting Total Operating Expenditures from Total Operating Revenue. (Total Operating Revenue - Total Operating Expenditures = Net Operating Surplus or Deficit.)

In 2024-2025 FY there was a Net Operating Deficit of - $6,774; however the Net Operating Deficit for the previous Fiscal Year was considerably higher at - $ 59,723.                   

In summary  –

Overall we consider we have had a strong year financially and look forward to continuing this trend in the current fiscal year.               

Some closing thoughts -

During the 2024-2025 FY, Cherie Harrington, a member of the Finance Council, provided quarterly updates to the Parishioners. These updates included information on the status of offertory collections in relation to expectations in the Budget. Parishioners were asked to prayerfully consider increasing their weekly offerings, as well as supporting Parish General Maintenance by using the Building and Grounds envelopes. We also encouraged Parishioners to consider using E-Giving and making their offerings on a monthly basis.

Noting the increase in revenue that we had in the 2024-2025 FY, we know that our Parishioners reacted positively to the message and we thank them for increasing their contributions to support our Parish.

I will be here after Mass to answer any questions you may have.

Copies of this presentation are available at tables in the back of the Church.  Check the Parish Bulletin over next 3 weeks – we will be putting a link in it so you can view the insert as well as this presentation.

Thank you for your attention this afternoon (or morning).