Facts and Figures

FINANCIAL HEALTH CHECK

Offertory FY 2019-2020 August

MONTHLY FINANCE UPDATE

Monthly Financial Statement August 2019

Helpful Parish Finance Information

  • Finance Council Meetings
    · Includes Finance Council, Monsignor Keeney (Pastor), and Izzy Menchero (Business Manager).
    · 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 offertory 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 Ed Robinson, Chair of the Finance Council at 984-0469, 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)