Second Quarter Narrative - July to December 2022

Second Quarter Report: Tithing Holding Steady

For the first six months of this fiscal year (July-December 2022), our Sunday collections, or tithing, is holding steady. December was a big month, as it always is at St. Barnabas, and so for the first six months of this fiscal year, parishioners at St. Barnabas generously gave $1,184,448, which was about $9,000 below budget and about $32,000 below last year. Overall, we are pleased with our parish tithing to date.

A few notes about income and expenses. You will see that “Other Income” is running higher than budgeted and this is mainly because we received $250,889 in a grant from the Educational Assistance for Non-Public Schools (EANS) fund. We did not budget for this EANS grant as it likely to not be income for next year. Corresponding to this income, you will see that the expense line for Program and Instruction is running higher than budgeted and this reflects the use of the EANS grant on the expense side to pay for instructional aides and technology purchases.

Related to the maintenance of our campus property, in the second quarter we replaced the HVAC for our cafeteria ($41,200) which had ceased to operate effectively. Later this year, we plan to replace the original HVAC system for the church, which dates to 1986 and has aged out. The new HVAC system for the church will cost about $190,000 and will be paid from funds set aside for this project in our main operating account. We also plan to replace our HVAC system in the rectory which is in serious need of replacement. Over the next several years, we will slowly need to replace the individual air conditioning units in the classrooms in the school that are nearing the end of their life.

Finally, as reported earlier to the parish, we hope to finish in the third quarter the repairs to the water damage our church and Narthex sustained from the water pipe burst on December 26,2022. The Archdiocese is involved in ensuring that what caused the pipes to burst does not happen again, and this may require some ceiling structural modifications in the Narthex. All of these repairs are covered 100% by our insurance.

Should anyone have any questions, please just let me know.

Deacon Tom Hosty, Director of Operations

thosty@stbindy.org or 317-882-0724 ext. 253