Financial Facts and Figures
Finance Council Members
|Pat Macionis, Chair||Retired, formerly Director of Planning, Division of Mental Health Services NJ Department of Human Services|
|Joe Raichel||Community Market President, Wachovia Bank|
|Anthony Scaperlanda||Professor of Economics, Emeritus – Northern Illinois University|
- Finance Council Meetings
· Includes Finance Council, Father Gregory (Pastor), Izzy Menchero (Business Manager), Lauren Taddei (Parish Accountant).
· Meetings held in October, January, March and July.
· Agenda Items include financial analysis, asset management, income and expense budget, Diocesan mandates, capital improvements, debt reduction, Parishioner gifts, Wills and planned giving.
- Facts and Figures
· The Parish’s fiscal year is tied into the Diocese and runs from July 1st – June 30th.
· 9½% of the Parish’s offetory and rental income is sent to the Diocese each month. This “tax” is called the Diocesan Cathedraticum.
· The Diocese of Richmond mandates a $44,000 assessment for Catholic education from Incarnation.
· The Parish pays $12.50 for every registered household to receive the bi-weekly, Catholic Virginian.
- How the Parish Assists You
· Your Parish offers Electronic Funds Transfer (EFT)(sometimes called Bank Withdrawal) and on-line Visa/Master Card donations to allow a simple, consistent way of giving.
· Your Parish offers Youth Envelopes to teach our children about the importance of being good stewards of our resources.
· Your Parish places the annual “Statement of Financial Conditions” in the bulletin and on this web site every August.
· Your Parish sends out an annual eighth month reminder regarding the previous year’s financial stewardship commitment to Incarnation.
· Your Parish’s envelopes are concise and consist of 4 main envelopes (General Offertory, Outreach to those less fortunate, Haiti Ministry and Debt Reduction) in addition to the Holy Day and special second collection envelopes.
· Your Parish is always available to help should you or your family need financial assistance. Please contact Sheila Herlihy in the Parish Office 973-4381.
- How You Can Assist the Parish
· Remain consistent in your offertory giving. If you are away, miss Mass a week or forget about your envelope, please attempt to make up this loss of income to the Parish the following week.
· Use Electronic Funds Transfer (EFT) or on-line Credit Card donations. You are able to designate the amount and timeliness of the withdrawal (once or twice per month for EFT or once per month for credit cards).
· Give us your ideas. If you have ideas, suggestions or creative ways to manage our Parish resources, let us know!
· Ask questions. If you ever have a question regarding Parish finances, do not hesitate to contact Pat Macionis, Chair of the Finance Council at 973-4381, or Izzy Menchero, Business Manager at 973-4381.
- Additional Facts and Figures
· Every attempt is made to use vendors, contractors, suppliers, etc. who are registered parishioners.
· Staff salaries are based on the combination of the local wage and benefits, Diocesan guidelines and parish budget planning.
· Affiliation with other business is based on factors of quality, service and discounts to the Parish or our parishioners (Cici’s, ACAC, as examples)