Finance

Finance Council

Effective July 1, 2022 the new members of the parish Finance Council are as follows:

  • Mike Orlowski, Chair
  • Tish Vandiver, Member & Secretary
  • Augie Jimenez, Member
  • Mike Masinick, Member
  • Mary Francis, Member
  • Father Randy Gonzales, CISM, ex officio

Click here for more information regarding the Finance Council at Transfiguration. Finance Council Guidelines from the Raleigh Diocese can be found here.

YEAR END REPORT, Fiscal year July 1, 2020 — June 30, 2021

“Thanks to Jo Ann Booz, our bookkeeper, and to volunteers Augie Jimenez, Tish Vandiver, Mary Francis, Mike Masinick, and Father Randy (ex officio) for their efforts this fiscal year.” (Mark Hopkins)

Year End Balances

  • Assets — $814,000
  • Mortgage — $24,000
  • Savings — $143,000
  • Checking — $37,000
  • Net Total Assets — $933,000

Fiscal Year 2020-2021

  • Total Operating Revenue — $222,416
  • Total Operating Expenses — $237,632

  • Net Deficit — $15,216
    • COVID costs not budgeted in 2020
    • Closing costs for acquisition of 504 E. Main
    • Increased community involvement (Backpack program, ProLife, Faith Formation, & other missionary involvements)
    • Father Melendez donation
    • Roof replacement at 504 E. Main

We purchased 504 East Main (adjacent property) for additional office/classrooms and investment at a cost of $106,000.

We reduced Cash on Hand from $54,000 to $34,000 in accordance with Diocesan guidelines (i.e. 6 weeks of expenses). This covered the roof at 504 E. Main.

In summary, we have done well spiritually as well as financially and the forecast is that we will achieve budget in revenues and expenses, while growing spiritually in our parish and surrounding community. Thank you so very much for your trust and support to our parish work.

Questions/comments are welcome and may be directed to Mark Hopkins at markhopkins121@gmail.com or 285-2830/910-305-1396.

Respectfully submitted,

Mark L. Hopkins, Chair, Finance Council