As a member of the Finance Committee I have been asked to give an update on the Parish finances and I would first like to acknowledge the work of our Chairman Tony Kerr who maintained all the financial reconciliations during the year, ensured we met all the relevant accounting standards and that our Annual Statement of Accounts is ready for signing off by the Archdiocese.
As with any organization the Parish has to fund annually for two categories of expenditure:
Ø Capital expenditure – to cover any major upgrading or repairs to the Church or other Parish property. This should normally be by way of building up a sinking fund to pay this work as and when required
Ø Day- to- Day running costs of the Parish.
I propose to deal separately with each category.
Under Capital Expenditure there is a wish list of work to be carried out on the Church and Parish property including –
· Electrical upgrade for the Church
· Insulation of the Church roof – Light & Heat of the Church cost Euro 9270 last year
· Church Seats to be looked at again
· Painting of Church interior
· Sacristy improvements
· Repair or replace gutters
· Additional office equipment and furniture, more kitchen equipment and extra tables and chairs for the Parish Centre
· Fitting out Priests’ apartments,
· Painting of the Church exterior
When the Sisters of Charity sold Mount Saint Anne’s, they gave the Marian Hall to the Parish. Subsequently in an agreement with the Developer - in return for giving him the Marian Hall the Parish received the new Parish Centre, two apartments for Priests plus a net cash payment of almost 66,000 Euro. One of the Priests’ houses in Ramleh Park has recently been sold. After expenses and repayment of a loan to the Archdiocese the Parish will be left with a significant amount of money. It is the view of the Finance Committee that this money should be set aside as a kind of sinking fund to carry out some or all of the work I have already mentioned and to ensure the Church and any other Parish property are maintained to a high standard into the future.
Now to the question of the Day to Day running expenses of the Parish:
A breakdown of the Parish income and expenditure is set out in the Christmas edition of the Milltown News and I hope everybody received a copy. As explained in the Milltown News neither of the two collections at Sunday Mass is available for the Parish expenses.
The first collection at Masses is for the support of all diocesan clergy including priests in poorer parishes, and sick or retired priests and after deducting the standard Diocesan approved payment to the Priests of our Parish, the balance is passed to the central fund of the Archdiocese. I would point that our Parish Priest’s payment from the Archdiocese is less than the average industrial wage.
The second collection for SHARE is transferred in total to the Archdiocese. During the reordering of the Church a few years ago our parish received funds from SHARE towards this work.
Due to the current level of regular attendance at Sunday Mass it is clear the number of weekly contributors to these collections has fallen but the needs of the Archdiocese have not changed.
It should also be noted that over the last two years Inflation is 9.92% - 4.92% in 2006 and 5% in 2007.
It is important that contributions to these collections take account of inflation and the ongoing needs of the Archdiocese.
As can also be seen from the Milltown News the main sources of income for the Day to Day running costs of the Parish are:
· The Family Offering
· The Tax Rebate on the Family Offering and Dues
Over the last five years the family offering has remained fairly static at between 43000/45000 Euro per year. In that period of time with the development of Mount Saint Anne’s and other smaller developments the numbers living in the Parish catchment area have significantly increased but this is not reflected in the family offering. Due to the number of new apartments in the Parish plus the level of change in house ownership it is virtually impossible for the parish to maintain an up to date record of Parishioners so if there are parishioners who are not in receipt of family offering envelopes or Banker Order Mandate please contact the Parish Administrator or the Parish priest or leave their name and address in the Sacristy.
The Tax Rebate on the Dues and Family offering is a scheme approved by the Revenue Commissioners. This allows the Parish to claim a refund of income tax on parishioners’ annual contribution to the Dues and Family Offering provided the total comes to more than 250 Euro per year and they pay Tax under the PAYE system.
In 2006 the Tax Rebate accounted for 19% of the Parish Income for the Day-to-Day running cost of the Parish and in 2007 it was 16%. It is a very significant income stream and it is important that revenue available under the scheme be maximized for the benefit of the Parish. This can be done in three ways:
1. Parishioners might consider where necessary to increasing their annual contribution to the Family Offering and Dues so that the total exceeds the 250 Euro qualifying threshold required by Revenue. For example any parishioner increasing their contribution this year to meet the qualifying threshold could give the Parish up to 102.50 Euro in tax refund – in real terms their contribution would be 302.50 Euro and not 250 Euro
2. Parishioners with unchanged Standing Orders since the introduction of the Euro six years ago of more than 250 Euro per year and who have a capacity to do so might now consider increasing their Standing Order. The Parish would gain on the double through increased contribution and an increase in tax refund
3. Eligible participants to promptly return the completed CHY2 form as required by the Tax Authorities – only 60% of eligible participants returned the form last year for the Tax year 2006.
With the reduction in Parish clergy coupled with the increased emphasis placed on the laity through Parish Pastoral Councils and the recognition of the important role of a Parish Centre the day to day running costs of the Parish have increased substantially. The main increase is in Salaries/Honoraria and reflects amongst other payments the appointment of a professional Administrator in 2006. This appointment was necessary due to an increasing workload and to ensure the smooth functioning of the Parish and all its activities.
Into the future there are concerns about the possibility of further expenses arising for example:
· The coffee shop service and daily maintenance of the Centre is currently funded by FAS and while it is hoped this will continue for the immediate future it may in the longer term become cost to the Parish.
· The number of parishioners who clean the Church on a weekly basis is now very low and unless the position improves the cleaning of the Church may sometime in the future become a cost to the Parish
For many years we all came to Mass on Sunday and then went home to come back again the following Sunday with little or no interaction between parishioners who did not know each other. With the Parish Centre coming on stream a parish community is beginning to grow. If this community spirit is to grow and develop further it is important that parishioners firstly use the Centre’s facilities and attend at least some of the functions/courses arranged at the Centre and secondly and critically they ensure through their level of contribution to the Family Offering and use of the Tax Rebate scheme that there are sufficient funds to meet all the day-to-day running costs of the Parish including the Parish Centre.
Thank you. Michael Barry Member of the Finance Group
