Finances at Our Lady of Peace

March 2018 Financial Update

  1. Weekend Collections

A clear trend in our weekend collections has developed since the merger took effect in 2014. As you can see in the graph below, there has been a steady decline in our total yearly parish collections.

Merger thru 2017

 

  1. Debt Reduction Fund

We have a monthly loan payment of $4,966. It’s for the renovation of the church building that was done 19 years ago. We have $219,760 left on this debt, and whenever we don’t receive $4,966 a month in the Debt Reduction envelopes, we make up the difference by taking money out of the Debt Reduction Fund. Unfortunately, we’ve had to take money out of that fund almost every single month. Look below at how fast the Debt Reduction Fund is disappearing. If nothing changes, it will be gone entirely in a month or so.

Debt Reduction

 

  1. Reaching our CSA Target

On average, about 300 people in the parish use envelopes. Pretend for a moment that all those 300 people use their envelopes every week. I know that some use them once a month or twice a month, but pretend that all 300 families using envelopes use them every single week. If each of those 300 people using envelopes gave an extra $5 a week, we’d make our CSA goal and wouldn’t have to take any money out of savings.