First Quarter Narrative - July to Sept 2022

First Quarter Report: Tithing Down A Bit

In the first quarter of this new fiscal year (July, August, September 2022), our tithing is down about $2,000 from what we budgeted for the first quarter. It is too early to say that this is a trend and so we will continue to monitor this as the year progresses. As you can see in the accompanying charts, parish families generously gave $564,966 this first quarter. (Last year parish families gave $585,574, so the first quarter of this year is about $20,000 lower than the first quarter last year.)

There were two other notable items related to income and both relate to our school. First, our school received just over $174,000 in grants from the Educational Assistance for Non-Public Schools (EANS) fund, most of which pays for the salaries of teacher aides and technology purchases. This grant is reflected in Other Income and the related expenses are reflected in Program and Instructional Expenses.

Second, we now have 311 students out of our 490 enrolled students who are signed up to receive Indiana Choice Scholarships (Last year 242 of our students were recipients of Choice Scholarships). The first payment of Choice Scholarships from the state totaling $441,000 was received in October and so those funds are not reflected in our first quarter income for Tuition and Fees.

Related to capital improvements, we recently replaced the roof and gutter system on the rectory, replaced the HVAC system in the cafeteria, and have done other repairs to roofs and air conditioners throughout our campus. We are planning other capital improvements in the second and third quarters, including replacement of Church and rectory HVAC systems. Having a Building and Grounds savings will allow our parish to pay for these items as they are completed.

Should you have any questions, please let me know. May God continue to bless St. Barnabas Parish.

Deacon Tom Hosty, Director of Operations