FINANCIAL HEALTH CHECK
MONTHLY FINANCE UPDATE
Monthly Finance Summary April 2021
Helpful Parish Finance Information
- Finance Council Meetings
· Includes Finance Council, Monsignor Keeney (Pastor), and Izzy Menchero (Business Manager).
· Meetings held monthly.
· 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 $67,000 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 434-973-4381. - 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, please contact Izzy Menchero, Business Manager, at 434-973-4381. - 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.
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